<SEC-DOCUMENT>0001010549-15-000090.txt : 20150330
<SEC-HEADER>0001010549-15-000090.hdr.sgml : 20150330
<ACCEPTANCE-DATETIME>20150330160117
ACCESSION NUMBER:		0001010549-15-000090
CONFORMED SUBMISSION TYPE:	10-K
PUBLIC DOCUMENT COUNT:		18
CONFORMED PERIOD OF REPORT:	20141231
FILED AS OF DATE:		20150330
DATE AS OF CHANGE:		20150330

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CHINA PHARMA HOLDINGS, INC.
		CENTRAL INDEX KEY:			0001106644
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				731564807
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		10-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34471
		FILM NUMBER:		15734474

	BUSINESS ADDRESS:	
		STREET 1:		2ND FLOOR, NO. 17, JINPAN ROAD
		STREET 2:		HAIKOU
		CITY:			HAINAN PROVINCE
		STATE:			F4
		ZIP:			570216
		BUSINESS PHONE:		8689866811730

	MAIL ADDRESS:	
		STREET 1:		2ND FLOOR, NO. 17, JINPAN ROAD
		STREET 2:		HAIKOU
		CITY:			HAINAN PROVINCE
		STATE:			F4
		ZIP:			570216

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TS ELECTRONICS INC
		DATE OF NAME CHANGE:	20030818

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SOFTSTONE INC
		DATE OF NAME CHANGE:	20030128

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SOFTSTONE INC /DE/
		DATE OF NAME CHANGE:	20010808
</SEC-HEADER>
<DOCUMENT>
<TYPE>10-K
<SEQUENCE>1
<FILENAME>cphi10k123114.htm
<DESCRIPTION>CHINA PHARMA
<TEXT>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="DISPLAY: inline;" face="Wingdings">x</font> ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Commission file number: 001-34471</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 18pt; FONT-WEIGHT: bold">China Pharma Holdings, Inc.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(Exact name of registrant as specified in its charter)</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">incorporation or organization)</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(IRS Employer Identification No.)</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Second Floor, No. 17, Jinpan Road</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Haikou, Hainan Province, China 570216</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Securities registered pursuant to Section 12(b) of the Act:</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">NYSE MKT</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Securities registered pursuant to Section 12(g) of the Act: <font style="DISPLAY: inline; FONT-WEIGHT: bold">None.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes <font style="DISPLAY: inline;" face="Wingdings">&#168;</font> No <font style="DISPLAY: inline; FONT-WEIGHT: bold" face="Wingdings">x</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act. Yes <font style="DISPLAY: inline;" face="Wingdings">&#168;</font> No <font style="DISPLAY: inline; FONT-WEIGHT: bold" face="Wingdings">x</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such report(s)), and (2) has been subject to such filing requirements for the past 90 days. Yes <font style="DISPLAY: inline; FONT-WEIGHT: bold" face="Wingdings">x</font> No <font style="DISPLAY: inline;" face="Wingdings">&#168;</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (&#167; 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes <font style="DISPLAY: inline; FONT-WEIGHT: bold" face="Wingdings"><font style="DISPLAY: inline;" face="Wingdings">o</font></font> No <font style="DISPLAY: inline;" face="Wingdings"><font style="DISPLAY: inline;" face="Wingdings">x</font></font></font><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;<font style="DISPLAY: inline; FONT-SIZE: 10pt">&#160;</font></font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of Registrant&#8217;s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. <font style="DISPLAY: inline; FONT-WEIGHT: bold" face="Wingdings">x</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See definitions of &#8220;large accelerated filer,&#8221; &#8220;accelerated filer,&#8221; and &#8220;smaller reporting company&#8221; in Rule 12b-2 of the Exchange Act.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Accelerated filer <font style="DISPLAY: inline; FONT-FAMILY: wingdings">o</font></font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Non-accelerated filer <font style="DISPLAY: inline; FONT-FAMILY: wingdings">o</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Do not check if a smaller reporting company</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Smaller reporting company <font style="DISPLAY: inline; FONT-FAMILY: wingdings">x</font></font></div>
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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes <font style="DISPLAY: inline;" face="Wingdings">&#168;</font> No <font style="DISPLAY: inline; FONT-WEIGHT: bold" face="Wingdings">x</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was last sold, or the average bid and ask price of such common equity, as of the last business day of the registrant&#8217;s most recently completed second fiscal quarter: $9,443,423 as of June 30, 2014, based on the closing price of $0.39 of the Company&#8217;s common stock on such date.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The number of outstanding shares of the registrant&#8217;s common stock on March 19, 2015 was 43,579,557.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Documents Incorporated by Reference: None.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">FORM 10-K ANNUAL REPORT</font></font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">PART I</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Item 1.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Business.</font></div>
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<td valign="bottom" width="8%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; 5</font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Item 1A.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Risk Factors.</font></div>
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<td valign="bottom" width="8%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; 22</font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Unresolved Staff Comments.</font></div>
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<td valign="bottom" width="8%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; 42</font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Properties.</font></div>
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<td valign="bottom" width="8%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; 42</font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Item 3.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Legal Proceedings.</font></div>
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<td valign="bottom" width="8%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; 43</font></td>
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<td valign="bottom" width="8%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; 43</font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Item 5.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Market for the Registrant&#8217;s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.</font></div>
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<td valign="bottom" width="8%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; 43</font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Item 6.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Selected Financial Data</font></div>
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<td valign="bottom" width="8%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; 44</font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Item 7.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations.</font></div>
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<td valign="bottom" width="8%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; 45</font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Item 7A.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Quantitative and Qualitative Disclosures about Market Risk.</font></div>
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<td valign="bottom" width="8%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; 55</font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Item 8.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Financial Statements and Supplementary Data.</font></div>
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<td valign="bottom" width="8%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; 55</font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Item 9.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.</font></div>
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<td valign="bottom" width="8%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; 55</font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Item 9A.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Controls and Procedures.</font></div>
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<td valign="bottom" width="8%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; 55</font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Item 9B.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Other Information.</font></div>
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<td valign="bottom" width="8%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; 56</font></td>
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<td align="left" valign="top" width="66%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">PART III</font></div>
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<td valign="bottom" width="8%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; 56</font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Item 11.</font></div>
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<td valign="bottom" width="8%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; 58</font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Item 12.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">PART IV</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Item 15.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Exhibits, Financial Statement Schedules.</font></div>
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<td valign="bottom" width="8%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; 62</font></td>
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<td valign="bottom" width="8%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; F-1&#160; -&#160; F-18</font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><br>
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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">The statements contained in this report with respect to our financial condition, results of operations and business that are not historical facts are &#8220;forward-looking statements&#8221;. Forward-looking statements can be identified by the use of forward-looking terminology, such as "anticipate", "believe", "expect", "plan", "intend", "seek", "estimate", "project", "could", "may" or the negative thereof or other variations thereon, or by discussions of strategy that involve risks and uncertainties. Management wishes to caution the reader of the forward-looking statements that any such statements that are contained in this report reflect our current beliefs with respect to future events and involve known and unknown risks, uncertainties and other factors, including, but not limited to, economic, competitive, regulatory, technological, key employees, and general business factors affecting our operations, markets, growth, services, products, licenses and other factors, some of which are described in this report including in &#8220;Risk Factors&#8221; in Item 1A and some of which are discussed in our other filings with the SEC. These forward-looking statements are only estimates or predictions. No assurances can be given regarding the achievement of future results, as actual results may differ materially as a result of risks facing our company, and actual events may differ from the assumptions underlying the statements that have been made regarding anticipated events.</font></font></font><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><br>
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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">These risk factors should be considered in connection with any subsequent written or oral forward-looking statements that we or persons acting on our behalf may issue. All written and oral forward looking statements made in connection with this report that are attributable to our company or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. Given these uncertainties, we caution investors not to unduly rely on our forward-looking statements. We do not undertake any obligation to review or confirm analysts&#8217; expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date of this report or to reflect the occurrence of unanticipated events, except as required by applicable law or regulation.</font></font></font><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><br>
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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">Notwithstanding the above, Section 27A of the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;) and Section 21E of the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;) expressly state that the safe harbor for forward-looking statements does not apply to companies that issue penny stock. If we are ever considered to be an issuer of penny stock, the safe harbor for forward-looking statements may not apply to us at certain times.</font></font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We are principally engaged in the development, manufacture and marketing of pharmaceutical products for human use in connection with a variety of high-incidence and high-mortality diseases and medical conditions in the People&#8217;s Republic of China (the &#8220;PRC&#8221;).&#160;&#160;All of our operations are conducted in the PRC, where our manufacturing facilities are located.&#160;&#160;We manufacture pharmaceutical products in the form of dry powder injectables, liquid injectables, tablets, capsules, oral solutions and granules.&#160;&#160;All of our pharmaceutical products are sold on a prescription basis and have been approved for at least one or more therapeutic indications by the China Food and Drug Administration (the &#8220;CFDA&#8221;) based upon demonstrated safety and efficacy.</font></font></div>

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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Basic generic drug, which is a common drug in the PRC for which there is a very large market demand;</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">First-to-market generic drug, which is a generic Western drug that is new to the PRC marketplace; or</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Modern Traditional Chinese Medicine, which generally is a non-synthetic, plant-based medicinal compound of the type that has been widely used in the PRC for thousands of years, to which we apply modern production techniques to produce a pharmaceutical product in different formulations, such as tablets, capsules or powders.</font></div>
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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In selecting generic drugs to develop and manufacture, we consider several factors, including the number of other manufacturers currently producing the particular drug, the size of the market, the proposed or required method of distribution, the existing and expected pricing for the particular drug in the marketplace, the costs of manufacturing that drug, and the costs of acquiring or developing the formula for that drug.&#160;&#160;We believe we have historically selected generic drugs to manufacture that have large addressable markets and higher profit margins relative to other drugs being manufactured and distributed in the PRC.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In 2002, we built, and we currently own and operate an approximately 8,000-square-meter manufacturing facility in Haikou, Hainan Province that supports eight modern, scalable production lines.&#160;&#160;We implement quality control procedures in compliance with China&#8217;s Good Manufacturing Practice, or GMP standards, and applicable CFDA regulations to ensure consistent quality in our products.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The CFDA promulgated <font style="FONT-STYLE: italic; DISPLAY: inline">Good Manufacturing Practices for Pharmaceutical Products</font> (2010 revised version) (the &#8220;new GMP&#8221;) on February 12, 2011, which became effective on March 1, 2011.&#160;&#160;The new GMP standards outline the basic principles and standards for the manufacturing of pharmaceutical products and the management of quality controls in the manufacturing process in the PRC. Pursuant to those mandatory requirements, the upgrading of our two injectables production lines was required to be accomplished by the end of 2013. From January 1, 2014 to November 3, 2014, we had suspended the production at our dry powder injectables and liquid injectables production lines due to the failure to meet new GMP upgrading deadline. &#160;In 2014, however, we completed construction of a 20,000 square-meter new factory installed with four sterilization production lines (two liquid injectables and two dry powder injectables production lines) to meet the latest GMP standard.&#160; In November 2014 the CFDA completed their process of the GMP certification for our new facility and issued a GMP certificate to enable us to commence manufacturing our two liquid injectables and two dry powder injectables production lines.&#160;&#160;We have commenced the operation on the four product lines in the fourth quarter 2014.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We market and sell our products through 16 sales offices covering all major cities and provinces in the PRC.&#160;&#160;To comply with applicable Chinese law relating to sales of prescription drugs to certain hospitals and clinics, we also use a distribution system comprised of over 1,000 independent regional distributors.</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Corporate History</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We are a holding company and conduct substantially all of our production, marketing, finance, development and administrative activities through our wholly-owned subsidiary located in the PRC. We were incorporated in the state of Delaware under the name &#8220;Softstone, Inc.&#8221; on January 28, 1999. From mid-2003 to October 19, 2005, we did not generate any significant revenue and we accumulated no significant assets as we explored business opportunities as a publicly-held &#8220;shell&#8221; corporation.</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We entered into our current line of business on October 19, 2005 by acquiring Onny Investment Limited, a holding company formed in the British Virgin Islands (&#8220;Onny&#8221;), and its operating subsidiary located in the PRC, Hainan Helpson Medical &amp; Biotechnology Co., Ltd. (&#8220;Helpson&#8221;).&#160;&#160;On March 16, 2006, we changed our corporate name to China Pharma Holdings, Inc. On December 31, 2012, we reincorporated from the State of Delaware to the State of Nevada.</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Helpson was established in Haikou, Hainan Province, PRC as a foreign-invested enterprise on February 25, 1993. The company was originally an &#8220;equity joint venture,&#8221; as defined by China&#8217;s laws on foreign invested enterprises, between Haikou Biomedical Engineering Co., Ltd., a PRC company, and Hong Kong Fudao Development Co., Ltd., a Hong Kong company (&#8220;Fudao&#8221;).</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">On June 16, 2001, Fudao entered into an Equity Interest Transfer Agreement with Hainan Kaidi Science and Technology Co., Ltd., a PRC company (&#8220;Kaidi&#8221;), pursuant to which Fudao transferred all of its ownership interest in Helpson to Kaidi.&#160;&#160;As a result of such transfer, Helpson became a PRC domestic company, rather than a foreign-invested company.</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Onny was incorporated on January 12, 2005 under the laws of the British Virgin Islands. On May 25, 2005, the then-existing three shareholders of Helpson entered into an equity interest transfer agreement with Onny, as a result of which, effective as of June 21, 2005, Helpson became a wholly foreign-owned enterprise (WFOE) and Onny became the sole stockholder of Helpson.</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">On October 19, 2005, we acquired all of the issued and outstanding shares of Onny in exchange for 27,499,940&#160;&#160;shares of our common stock and became Onny&#8217;s sole stockholder. In connection with such share exchange, all of our officers and directors at that time resigned as officers and directors of our company, and new directors and executive officers were appointed.&#160;&#160;In addition, as a result of such share exchange, which is commonly referred to as a &#8220;reverse acquisition,&#8221; Helpson became our indirect wholly-owned subsidiary.</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Industry Background and Market Opportunities</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The Chinese pharmaceutical industry has been a key contributor to the PRC&#8217;s economic growth. According to the research report <font style="FONT-STYLE: italic; DISPLAY: inline">In Search of New Growth Models for Big Pharma in China </font>issued by McKinsey &amp; Company on October 2013, China&#8217;s pharmaceutical market grew by another 20%, to reach $70 billion in 2013 at ex-manufacturer price, with some sub-segments (e.g., oncology) or channels (e.g. country hospitals, Tier 3 cities) expanding at a much faster pace. This report also pointed out that China&#8217;s pharmaceutical market has been on a great run, growing at 21% compound annual growth rate (CAGR) over the past five years. In a recent joint forecast developed by McKinsey and the China Pharmaceutical Association (CPA), the China pharmaceutical market is projected to continue growing around 17% annually through 2020, approaching RMB 1.9 trillion in retail sales (~RMB 1.2 trillion in ex-manufacture sales). Sang Guowei, Chairman of CPA, commented in his keynote speech during the 15<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">th</font> Annual Meeting of the China Association of Science and Technology in May 2013 that &#8220;China&#8217;s pharmaceutical market is projected to surpass the U.S. as the largest in the world post-2020.&#8221; Regardless of the final number, most experts agree that China will become the second-largest pharmaceutical market by 2020, and ultimately the largest one in the world. We believe the growth of Chinese pharmaceutical industry is supported by the strong growth in the Chinese economy, the aging population, the increasing rate of chronic disease in the PRC, the recent health care reform, and improvements in the protection of intellectual property rights in the PRC.</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The Chinese pharmaceutical market is highly fragmented with over 4,700 pharmaceutical manufacturers (including Active Pharmaceutical Ingredient (API) manufacturers) comprised of a number of larger state-owned enterprises and a large number of small enterprises by the end of 2012. We believe this fragmentation provides opportunities for better managed and more financially sound companies to gain market share by using comparatively strong technical, manufacturing and marketing abilities.&#160;&#160;In addition, regulatory agencies in the PRC have introduced a series of new regulations to control the standards and quality of manufacturing and distribution in the pharmaceutical industry.&#160;&#160;These new regulations require companies to obtain government-recognized manufacturing and distribution licenses, and good manufacturing practice (GMP) and good sales practice certificates, and have resulted in the elimination of many small or poorly-managed companies.&#160;&#160;We believe this new regulation will precipitate consolidation opportunities in the pharmaceutical industry and a generally more favorable competitive environment for our Company.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We expect China&#8217;s healthcare spending to rise significantly in relation to its rapidly-growing GDP and to become more aligned with international standards.&#160;&#160;Growth drivers, such as the rapidly growing economy, increased income levels and rising living standards, increasing health consciousness, an aging population and life style related diseases are expected to positively affect China&#8217;s healthcare spending. We believe the increased healthcare spending by the Chinese government to reform the healthcare system has already greatly improved the accessibility of and desire for medical care. We also believe the Chinese government&#8217;s increased spending on the rural market will be another driving force for our future growth.&#160;</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline">National Medical Insurance Program</font>. The National Medical Insurance Program (the &#8220;NMIP&#8221;), introduced in 1999, is the largest medical insurance program in the PRC.&#160;&#160;According to <font style="FONT-STYLE: italic; DISPLAY: inline">The Notice of Key Healthcare Works in 2013</font> released by Ministry of Health of PRC on January 22, 2013, the government is determined to maintain the coverage rate of NMIP above 95%; increase the average level of participant&#8217;s contribution to RMB340, and increase the government subsidy; optimize overall planning and reimbursement methods, increase the in-patient reimbursement rate to 75%, try to increase the real reimbursement rate by 5% to the previous year; increase the maximum reimbursement amount to no less RMB80,000 per person; increase the reimbursement level of outpatient expenses; and gradually reduce the percentage of participant&#8217;s out-of-pocket expenses to such participant&#8217;s total expenses.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The NMIP is funded primarily by central and provincial governments and, to a lesser degree, by program participants and their employers. The program has two types of accounts: individual accounts and social pool accounts. Each participant has an individual account that holds all contributions from the participant and 30% of the contributions from his or her employer. The amounts of the employer&#8217;s and the participant&#8217;s contributions are determined as fixed percentages of the participant&#8217;s salary. An increase in the participant&#8217;s salary will increase the size of both contributions to the participant&#8217;s individual account, subject to a fixed monthly cap that varies from city to city and may be adjusted from year to year. A participant may claim reimbursement from his or her individual account for prescription medicines, OTC medicines and other out-patient and in-patient medical expenses. The maximum amount available for reimbursement for an individual program participant is capped at a level equal to the balance in that individual&#8217;s account. In addition to individual accounts, the NMIP in each province also includes a social pool account, which holds the contributions from the provincial government as well as the remaining 70% of employer contributions. The social medical expense pool is used to pay for hospitalization costs and in-patient related charges incurred by the participants, subject to certain co-payments, exclusions and limitations. Other than in the relatively more affluent eastern provinces in China, many provincial governments have not fully funded the provincial social medical expense pools, which results in delay or failure in reimbursing the hospitalization costs and other in-patient related expenses of the NMIP participants.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The CFDA promulgated <font style="FONT-STYLE: italic; DISPLAY: inline">Good Manufacturing Practices for Pharmaceutical Products (2010 revised version) </font>(the &#8220;new GMP&#8221;) on February 12, 2011, which became effective on March 1, 2011.&#160;&#160;The new GMP standards outline the basic principles and standards for the manufacturing of pharmaceutical products and the management of quality controls in the manufacturing process in the PRC. Since it was first enacted in 1988, GMP has over two decades of history in China, and went through two revisions in 1992 and 1998. As of June 30, 2004, manufacturing of all active pharmaceutical ingredients (API) and finished dosage must be in compliance with the GMP standards. The new GMP standards that became effective on March 1, 2011 include improvements based upon foreign manufacturing advancements, and have taken into consideration local conditions in China. Based on the principle of &#8220;equal importance between hardware and software&#8221;, strictly implementing the idea of risk control during the manufacturing process of pharmaceutical products, and more focus on scientific guidance and operability, the new GMP standards are consistent with the World Health Organization (WHO) standards.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The four main characteristics of the new GMP standards are: (1) strengthening the establishment of the quality control system during the manufacturing process of pharmaceutical products by significantly increasing the requirements on quality control software; (2) improving the requirements on the quality of practitioners; (3) refining operation procedures, rules on document management, including manufacturing records, improving guidance and operability; and (4) further improvements related to measures to ensure the safety of pharmaceutical products.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline">Healthcare Reform</font>.&#160;&#160;In September 2008, the State Council of China published a draft plan to ease the difficulties and minimize the costs for Chinese citizens to obtain proper healthcare treatment.&#160;&#160;On March 17, 2009, the PRC government issued an Opinion on &#8220;Deepening the Healthcare System Reform&#8221;. The State Council subsequently released the Notice on Important Implementing Plans for the Healthcare System Reform 2009-2011. The goal of the healthcare reform plan is to establish a basic, universal healthcare framework to provide safe, efficient, convenient and affordable healthcare to urban and rural residents.</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Our Strategy</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We believe we are well positioned in a rapidly-growing industry in one of the fastest-growing economies in the world. We currently manufacture a number of off-patent branded generic drugs that were among the first to market in the PRC. We expect to continue to gain additional competitive advantages through the growing pipeline of new pharmaceutical products we are developing for specific target patient groups. Our diverse portfolio of products and our new product pipelines include products for high-incidence and high-mortality conditions in China, such as cardiovascular, central nervous system (CNS), infectious and digestive diseases.&#160;&#160;Furthermore, the Healthcare Reform initiated by the State Council in 2008 in China has significantly expanded the landscape of healthcare industry in China. For example, the total number of healthcare institutions has increased to 982,000 as of the end of October 2014, consisting of 25,000 hospitals, 921,000 basic level healthcare institutions, 32,000 professional public healthcare institutions and 3,000 other institutions; which represented an increase of 21,436 in total number, with the breakdown of an increase of 1,061 hospitals, and a decrease of 63 basic level healthcare institutions, and an increase of 19,656 professional public healthcare institutions compared to the end of October 2013 according to a report issued on October 2014 by PRC Ministry of Health and Family Planning Committee. The increase in demand from these sources should allow us to continue to grow organically. In addition, the new production approval we received from the CFDA on Candesartan, an angiotensin II receptor antagonist serving as a first-line treatment for hypertension in November 2013 which was launched to the market towards the end of 2014 and new products from our pipeline of products under development (such as the generic version of Crestor and novel anti-drug-resistant combination antibiotics) would offer us significant growth opportunities if these products are approved for manufacture and sale in the PRC. Finally, the Healthcare Reform has started to change the landscape of the Chinese pharmaceutical industry, which we believe will create many attractive acquisition opportunities. We plan to explore these opportunities in an effort to add synergistic products that can help us continue to grow at rates that are commensurate with our historical rate of growth.</font></font></div>

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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline">Promoting Our Existing Brands to Increase Our National Recognition</font>. We intend to support and grow the existing recognition and reputation of our brands and to maintain our branded pricing strategy through continued sales and marketing efforts. To achieve this goal, we plan to promote the efficacy and safety profile of our established prescription pharmaceutical products to physicians at hospitals and clinics in all provinces in the PRC through the efforts of our sales force and our independent distributors and through educational physician conferences and seminars.</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline">Developing and Introducing Additional Products to Expand or Strengthen Our Existing Product Portfolio</font>. We plan to focus our development capabilities towards expanding our existing portfolio of approved products. We have a number of products in various stages of the CFDA approval process. In addition, we intend to conduct clinical trials for new generic or&#160;modernized products to expand our current existing products. We plan to introduce new generic or modernized products to leverage our branded market leadership position, particularly in the therapeutic areas in which we already have a strong presence.</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline">Expanding Our Distribution Network For Further Market Penetration</font>. We intend to expand our reach beyond our current 16 offices in the PRC to drive additional growth of our existing and future products. We currently contract with over 1,000 distributors in the PRC and plan to expand upon these relationships to target new markets. In addition, we plan to continue to broaden our marketing efforts outside of major cities in the PRC and increase our market penetration in cities and rural areas in which we already have a presence.&#160;&#160;Over the long term, we also intend to expand our presence beyond the PRC to international markets by working with international pharmaceutical companies in cross selling our products.</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline">Acquiring Complementary Products Lines, Technologies, Distribution Networks and Companies</font>. We intend to selectively pursue strategic acquisition opportunities that we believe will grow our customer base, expand our product lines and distribution network, enhance our manufacturing and technical expertise or otherwise complement our business or further our strategic goals. Pursuing strategic acquisitions is a significant component of our growth strategy.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Products</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We currently have a product portfolio of 20 pharmaceutical products that address a wide variety of diseases and medical indications.&#160;&#160;All of our pharmaceutical products have demonstrated safety and efficacy in clinical trials sufficient to obtain approval by the CFDA and are sold on a&#160;prescription basis. The following table summarizes the approved indications for our marketed pharmaceutical products and the year in which each of such products was first marketed to our customers.</font></font></div>

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</tr><tr bgcolor="white">
<td colspan="2" valign="top" width="21%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="53%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td colspan="2" valign="top" width="17%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="azure">
<td colspan="2" valign="top" width="21%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-INDENT: -18pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Gastrodin Injection</font></div>
</div>
</td>
<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="53%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Tiredness, loss of concentration, poor sleep (the &#8220;declined spirit&#8221; syndrome), and for traumatic syndromes of the brain, including vertigo, neuralgia and headaches.</font></div>
</div>
</td>
<td colspan="2" valign="top" width="17%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-INDENT: 18pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2005</font></div>
</div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td colspan="2" valign="top" width="21%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="53%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td colspan="2" valign="top" width="17%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="azure">
<td colspan="2" valign="top" width="21%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-INDENT: -18pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Propylgallate for Injection</font></div>
</div>
</td>
<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="53%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Cerebral thrombosis, coronary heart disease and complication after surgery-thrombus deep phlebitis.</font></div>
</div>
</td>
<td colspan="2" valign="top" width="17%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-INDENT: 18pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2006</font></div>
</div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td colspan="3" valign="top" width="29%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="53%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="azure">
<td colspan="2" valign="top" width="21%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-INDENT: -18pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Ozagrel Sodium for Injection</font></div>
</div>
</td>
<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="53%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Cerebral thrombosis, coronary heart disease and complication after the surgery-thrombus deep phlebitis.</font></div>
</div>
</td>
<td colspan="2" valign="top" width="17%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-INDENT: 18pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2006</font></div>
</div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td colspan="2" valign="top" width="21%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="53%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td colspan="2" valign="top" width="17%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="azure">
<td colspan="2" valign="top" width="21%" style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Alginic Sodium Diester Injection</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></div>
</div>
</td>
<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="53%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Ischemic heart disease, cerebrovascular diseases (cerebral thrombosis, cerebral embolism and coronary heart disease) and high lipoprotein blood disease.</font></div>
</div>
</td>
<td colspan="2" valign="top" width="17%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-INDENT: 18pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2006</font></div>
</div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td colspan="2" valign="top" width="21%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="53%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td colspan="2" valign="top" width="17%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="azure">
<td colspan="2" valign="top" width="21%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-INDENT: -18pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Bumetanide for Injection</font></div>

<div style="TEXT-INDENT: -18pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></div>
</div>
</td>
<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="53%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Various edema diseases (including those associated with heart failure, hepatic cirrhosis, nephropathy, and pulmonary edema), hypertension, acute renal failure, hyperkalemia, hypercalcemia and for the rescue of acute drug poisoning.</font></div>
</div>
</td>
<td colspan="2" valign="top" width="17%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-INDENT: 18pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2007</font></div>
</div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td colspan="3" valign="top" width="29%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="53%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td colspan="2" valign="top" width="17%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="azure">
<td colspan="2" valign="top" width="21%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-INDENT: -18pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Candesartan</font></div>
</div>
</td>
<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="53%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Hypertension</font></div>
</div>
</td>
<td colspan="2" valign="top" width="17%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-INDENT: 18pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2013</font></div>
</div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td colspan="3" valign="top" width="29%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="53%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td colspan="2" valign="top" width="17%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td colspan="4" valign="top" width="29%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Anti-infection and </font><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Respiratory Diseases</font></div>
</div>
</td>
<td colspan="2" valign="top" width="17%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="21%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td colspan="2" valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="53%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td colspan="2" valign="top" width="17%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="azure">
<td valign="top" width="21%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-INDENT: -18pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Roxithromycin Dispersible Tablets</font></div>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></div>
</div>
</td>
<td colspan="2" valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="53%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Pharyngitis and tonsillitis caused by Streptococcus pyogenes; sinusitis, tympanitis, acute and chronic bronchitis caused by acute bacteria, Mycoplasma pneumonia and Chlamydia pneumoniae; urethritis and cervical infection caused by chlamydia trachomatis; skin soft tissue infection caused by sensitive bacteria.</font></div>
</div>
</td>
<td colspan="2" valign="top" width="17%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-INDENT: 18pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1995</font></div>
</div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="21%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td colspan="2" valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="53%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td colspan="2" valign="top" width="17%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="azure">
<td valign="top" width="21%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-INDENT: -18pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Cefaclor Dispersible Tablets</font></div>
</div>
</td>
<td colspan="2" valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="53%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Tympanitis, lower respiratory tract infection, urinary tract infections and skin/skin tissue infection.</font></div>
</div>
</td>
<td colspan="2" valign="top" width="17%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-INDENT: 18pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2002</font></div>
</div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>

<div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>

<div id="PGBRK" style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">11</font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
</div>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><br>
</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td valign="bottom" width="21%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Product</font></div>
</td>
<td valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="51%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Indication</font></div>
</td>
<td valign="bottom" width="20%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Year of</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Commercial</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Launch</font></div>
</td>
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<td valign="top" width="21%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="51%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="20%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="azure">
<td valign="top" width="21%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Cefalexin Capsules</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></div>
</td>
<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="51%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Acute tonsillitis caused by sensitive fungi, airway infections, such as pharyngitis, otitis media, nasal sinusitis and bronchitis; pneumonia, respiratory tract infection, urinary tract infections and skin soft tissue infections.</font></div>
</td>
<td valign="top" width="20%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2002</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="top" width="21%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="51%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="20%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="azure">
<td valign="top" width="21%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Anhydroandrographolide</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></div>
</td>
<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="51%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Ischemic heart disease, cerebrovascular diseases (cerebral thrombosis, cerebral embolism and coronary heart disease) and high lipoprotein blood disease.</font></div>
</td>
<td valign="top" width="20%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2003</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="top" width="21%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="51%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="20%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="azure">
<td valign="top" width="21%" style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Clarithromycin Granules and Capsules</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></div>
</td>
<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="51%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Nasopharynx infection, lower respiratory tract infection, skin tissue infection, acute tympanitis and mycoplasma pneumonia caused by clarithromycin susceptible organisms; urethritis and cervical infection caused by chlamydia trachomatis; and the treatment of legionella infection, mycobacterium avium complex (MAC) infection and helicobacter pylori infection.</font></div>
</td>
<td valign="top" width="20%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2004</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="top" width="21%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="51%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="20%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="azure">
<td valign="top" width="21%" style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Naproxen Sodium and Pseudophedrine Hydrochlorida Sustained Release Tablets</font></div>
</td>
<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="51%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Relieve cold, sinus and flu symptoms, blocked nose caused by anaphylaxis rhinitis, runny nose, fever, sore throat, symptoms of myalgia in the limbs and pain around the joints.</font></div>
</td>
<td valign="top" width="20%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2005</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="top" width="21%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="51%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="20%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="azure">
<td valign="top" width="21%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Gull Wood Extract Syrup</font></div>
</td>
<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="51%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Detoxicating, anti-inflammatory, quickly reducing swelling, for the indication of acute tonsillitis, acute pharyngitis, acute conjunctivitis, and upper respiratory tract infection.</font></div>
</td>
<td valign="top" width="20%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2010</font></div>
</td>
</tr><tr bgcolor="white">
<td colspan="2" valign="top" width="29%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="51%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="20%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td colspan="2" valign="top" width="29%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Digestive Diseases</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></div>
</td>
<td valign="top" width="51%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="20%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="azure">
<td valign="top" width="21%" style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Hepatocyte Growth-promoting Factor for Injection</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></div>
</td>
<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="51%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Serious viral hepatitis symptoms caused by various viral hepatitis types (acute, subnormal temperature, chronic serious disease early or middle period of hepatitis).</font></div>
</td>
<td valign="top" width="20%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2005</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="top" width="21%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="51%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="20%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="azure">
<td valign="top" width="21%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Tiopronin</font></div>
</td>
<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="51%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Acute and chronic Hepatitis B, and for the relief of drug-induced liver injury.</font></div>
</td>
<td valign="top" width="20%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2009</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="top" width="21%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="51%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="20%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="azure">
<td valign="top" width="21%" style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Compound Ammonium Glycyrrhetate S for Injection</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></div>
</td>
<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="51%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Liver dysfunction caused by acute and chronic hepatitis; supplemental treatment to toxic/trauma hepatitis, liver cancer; also for the indication of food/drug poisoning, and drug allergy.</font></div>
</td>
<td valign="top" width="20%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2009</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="top" width="21%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="51%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="20%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="azure">
<td valign="top" width="21%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Omeparzole</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></div>
</td>
<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="51%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Gastroesophageal reflux disease, and other conditions caused by excess acidic formulations in the stomach, including gastric ulcers, recurrent duodenal ulcers and Zollinger-Ellison Syndrome.</font></div>
</td>
<td valign="top" width="20%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2009</font></div>
</td>
</tr><tr bgcolor="white">
<td colspan="2" valign="top" width="29%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Others</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></div>
</td>
<td valign="top" width="51%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="20%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="azure">
<td valign="top" width="21%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Vitamin B6 for Injection</font></div>
</td>
<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="51%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Vitamin supplement.</font></div>
</td>
<td valign="top" width="20%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2005</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="top" width="21%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="51%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="20%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="azure">
<td valign="top" width="21%" style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Granisetron Hydrochloride Injection</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></div>
</td>
<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="51%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Nausea and vomiting caused by radiotherapy and chemotherapy during the treatment of malignant tumors.</font></div>
</td>
<td valign="top" width="20%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2006</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In addition to our pharmaceutical products, we also manufacture Recombined Human Fibroblast Growth Factor (rhaFGF), which is used by other companies in the manufacture of products for the repair of wounded skin cells.&#160;&#160;We sell this product only to distributors for resale to other manufacturers as an active pharmaceutical ingredient for their production of cosmetics.</font></font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>

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<div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
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<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">12</font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
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<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The following table sets forth the aggregate amount and percentage of our revenues attributed to our product portfolio by indication group in the years ended December 31, 2014 and 2013.</font><br>
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<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td rowspan="2" valign="middle" width="28%" style="BORDER-BOTTOM: black 4px double; BORDER-LEFT: black 1.5pt solid; BORDER-TOP: black 1.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Product Category</font></div>
</td>
<td colspan="2" valign="bottom" width="39%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1.5pt solid; BORDER-TOP: black 1.5pt solid; BORDER-RIGHT: black 1.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Twelve Months Ended December 31</font></div>
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<td rowspan="2" valign="middle" width="17%" style="BORDER-BOTTOM: black 4px double; BORDER-TOP: black 1.5pt solid; BORDER-RIGHT: black 1.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Net Change</font></div>
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<td rowspan="2" valign="middle" width="16%" style="BORDER-BOTTOM: black 4px double; BORDER-TOP: black 1.5pt solid; BORDER-RIGHT: black 1.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">% Change</font></div>
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<td valign="bottom" width="21%" style="BORDER-BOTTOM: black 4px double; BORDER-LEFT: black 1.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2014</font></div>
</td>
<td valign="bottom" width="18%" style="BORDER-BOTTOM: black 4px double; BORDER-LEFT: black 1.5pt solid; BORDER-RIGHT: black 1.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2013</font></div>
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</tr><tr bgcolor="azure">
<td valign="bottom" width="28%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">CNS Cerebral &amp; Cardio Vascular</font></div>
</td>
<td valign="bottom" width="21%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">4.38</font></div>
</td>
<td valign="bottom" width="18%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1.5pt solid; BORDER-RIGHT: black 1.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">7.18</font></div>
</td>
<td valign="bottom" width="17%" style="BORDER-BOTTOM: black 2px solid; BORDER-RIGHT: black 1.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-2.81</font></div>
</td>
<td valign="bottom" width="16%" style="BORDER-BOTTOM: black 2px solid; BORDER-RIGHT: black 1.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-39%</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="bottom" width="28%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Anti-Viro/ Infection &amp; Respiratory</font></div>
</td>
<td valign="bottom" width="21%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">16.43</font></div>
</td>
<td valign="bottom" width="18%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1.5pt solid; BORDER-RIGHT: black 1.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">18.18</font></div>
</td>
<td valign="bottom" width="17%" style="BORDER-BOTTOM: black 2px solid; BORDER-RIGHT: black 1.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-1.75</font></div>
</td>
<td valign="bottom" width="16%" style="BORDER-BOTTOM: black 2px solid; BORDER-RIGHT: black 1.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-10%</font></div>
</td>
</tr><tr bgcolor="azure">
<td valign="bottom" width="28%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Digestive Diseases</font></div>
</td>
<td valign="bottom" width="21%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1.31</font></div>
</td>
<td valign="bottom" width="18%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1.5pt solid; BORDER-RIGHT: black 1.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2.94</font></div>
</td>
<td valign="bottom" width="17%" style="BORDER-BOTTOM: black 2px solid; BORDER-RIGHT: black 1.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-1.63</font></div>
</td>
<td valign="bottom" width="16%" style="BORDER-BOTTOM: black 2px solid; BORDER-RIGHT: black 1.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-55%</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="bottom" width="28%" style="BORDER-BOTTOM: black 1.5pt solid; BORDER-LEFT: black 1.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Other</font></div>
</td>
<td valign="bottom" width="21%" style="BORDER-BOTTOM: black 1.5pt solid; BORDER-LEFT: black 1.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2.82</font></div>
</td>
<td valign="bottom" width="18%" style="BORDER-BOTTOM: black 1.5pt solid; BORDER-LEFT: black 1.5pt solid; BORDER-RIGHT: black 1.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">4.51</font></div>
</td>
<td valign="bottom" width="17%" style="BORDER-BOTTOM: black 1.5pt solid; BORDER-RIGHT: black 1.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-1.69</font></div>
</td>
<td valign="bottom" width="16%" style="BORDER-BOTTOM: black 1.5pt solid; BORDER-RIGHT: black 1.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-37%</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><br>
</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Due to the nature of the pharmaceutical industry, we continually strive to change our product portfolio to respond to changes in market demand.&#160;&#160;Based on the foundation established by a number of our widely-recognized prescription products, such as Cefaclor and Roxithromycin, we have launched and will continue to launch a variety of medicines.&#160;&#160;The core criteria for our selection of potential pipeline products are strong market demand, proven efficacy and safety. In an effort to gain an advantage in the marketplace, we often seek to improve the production process of the new generic products we elect to manufacture or to strengthen the quality of a proposed product to increase its efficacy.</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><br>
</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We also adjust the delivery system and marketing for each of our products based on the product&#8217;s target patient group. We believe that maintaining a variety of delivery systems (e.g. tablet, capsule, granule, injectables and dry powder) for certain of our products targeted at different groups enhances our competitive position in the marketplace. As a result, our sales and marketing personnel work closely with management and our research and development personnel to determine which of our products can successfully be marketed in more than one delivery system and which generics in the marketplace may be a good candidate for us to manufacture and distribute in the marketplace using a different delivery system.</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><br>
</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Product Development</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><br>
</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Our product portfolio includes both branded and generic drugs that we either develop independently or with joint research efforts with our academic institutional partners or, to a lesser extent, acquire from third parties. We develop new products in-house as well as through cooperation&#160;&#160;with several research institutes, including the Chinese Academy of Sciences, China University of Pharmaceuticals, Sichuan University, Chongqing Medical Industry Institute and the Military Medical Academy Basic Medical Science Institute. We only pay these institutes for their research efforts and expenses if the research goals are accomplished evidenced by the certification of an applicable drug candidate and approval of drug production by the CFDA. Following our receipt of such certification and approval, the rights to the applicable drug candidate are transferred to us. Following any such payment and transfer, we become the sole owner of the drug certifications and/or the approvals of drug production, and any related research. We have no further payment or other obligations to the research institute from which we acquired such assets.&#160;&#160;In this manner, we obtained certificates and approvals of drug production for our Naproxen Sodium and Pseudophedrine Hydroclorida sustained release tablets through our cooperative relationship with the Chongqing Medical Industry Institute; we also obtained certificates and approvals of drug production for our Cefalcor dispersible tablets through our cooperative relationship with the China University of Pharmaceuticals. We are now manufacturing and selling both drugs. We expect to continue to develop additional new drugs under this method. We also intend to continue purchasing or obtaining licenses from third parties to produce certain drug products on a limited basis, as we regard this as an important and effective means for us to develop our business. In addition, we have started to take a dominant position in the research activities of formulation screening, new technology exploration, and technical criteria improvement in 2013. We expect this new model will improve our exploration channels for the pipeline products.</font></font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div id="PGBRK" style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">13</font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>
</div>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><br>
</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">As of December 31, 2014, the product candidates that we are developing at different stages include the following:</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><br>
</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td valign="bottom" width="30%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Indication of Product Candidate</font></font></div>
</td>
<td valign="bottom" width="46%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CFDA Status</font></div>
</td>
</tr><tr bgcolor="azure">
<td valign="bottom" width="30%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Anti Infection</font></div>
</div>
</td>
<td valign="bottom" width="46%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">In Phase II Clinical Study</font></div>
</div>
</td>
</tr><tr bgcolor="white">
<td valign="bottom" width="30%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Cholesterol Control Drug</font></div>
</div>
</td>
<td valign="bottom" width="46%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Clinical Trial Completed. Waiting for Production Approval</font></div>
</div>
</td>
</tr><tr bgcolor="azure">
<td valign="bottom" width="30%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Alzheimer's disease drug</font></div>
</div>
</td>
<td valign="bottom" width="46%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Production Verification Completed, Waiting for Production Approval</font></div>
</div>
</td>
</tr><tr bgcolor="white">
<td valign="bottom" width="30%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Coronary Heart Disease Drug</font></div>
</div>
</td>
<td valign="bottom" width="46%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Approaching Phase III Clinical Study End Point</font></div>
</div>
</td>
</tr><tr bgcolor="azure">
<td valign="bottom" width="30%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">New medicine delivery technology</font></div>
</div>
</td>
<td valign="bottom" width="46%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">In Technical Transfer</font></div>
</div>
</td>
</tr><tr bgcolor="white">
<td valign="bottom" width="30%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Hepatitis Drug</font></div>
</div>
</td>
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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Our drug formula development and acquisition expenditures were $0.8 million and $1.2 million in the years ended December 31,&#160;2014&#160;and 2013, respectively, which represented 3% and 4% of our revenues for such years, respectively.</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We believe the first product to market from our product candidates will be Rosuvastatin, which is a generic form of Crestor&#174; used in the treatment of hyperlipidemia, or high cholesterol.</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline">Anti-Drug-Resistant Cephalosporin (anti-infection drug)</font>. Cephalosporin continues to be the most widely prescribed class of antibiotics in China.&#160;&#160;According to the CFDA, approximately 50% of antibiotic sales are derived from cephalosporin. According to the Chinese industry publications, sales of cephalosporin antibiotics in China were estimated by the CFDA to be over $17.4 billion in 2015. Due to the broad usage of antibiotics, including cephalosporin, drug resistance has become a significant issue in China. We believe our new combination antibiotic possesses substantial competitive advantages in this environment.&#160;The CFDA will designate our combination antibiotic as a Class 1 drug, which carries a five-year exclusivity when the CFDA approval is obtained.&#160;&#160;The clinical trials for our cephalosporin product candidate commenced in November 2008, and we are currently in phase II of clinical trials. The phase II clinical trials lasted longer than originally expected, due to the enhanced criteria introduced during the implementation process of this trial.</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Distribution and Customers</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We believe we have a well-developed sales network.&#160;&#160;As our current pharmaceutical product portfolio is comprised mainly prescription drugs, our major sales targets are hospitals. As of December 31, 2014, we also had 16 sales offices covering all major provinces of China, and 141 sales representatives who assist in managing many of our relationships with hospitals, doctors and local drug distributors. Overall, our distribution model is rather flat, with relatively few intermediaries compared to many other pharmaceutical companies in China<font style="DISPLAY: inline; FONT-WEIGHT: bold">.&#160;</font> Due to this advantage, we believe we are able to keep our selling cost lower than the industry average.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Due to the nature of our products and current governmental regulations, all of our customers are located in the PRC.&#160;&#160;We have established long-standing relationships with most of our key customers as our operating subsidiary, Helpson, which was formed in 1993.&#160;</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Production Facilities</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We manufacture and package our products at our manufacturing facility in the Haikou Free Trade Zone in Haikou, Hainan Province. Our manufacturing facility, which was built in 2002, is approximately 8,000 square meters and has eight production lines for different forms including: tablets, capsule, granule, dry power, liquid injectables, Cephalosporins (specifically designated), chemical API, and biological API.&#160;</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: -0.3pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The CFDA promulgated Good Manufacturing Practices for Pharmaceutical Products (2010 revised version) (the &#8220;New GMP Standards&#8221;) on February 12, 2011, which became effective on March 1, 2011.&#160;The new GMP outlines the basic principles and standards for the manufacturing of pharmaceutical products and the management of quality controls in the manufacturing process in the PRC. Pursuant to those mandatory requirements, the upgrading of our two sterilization production lines - liquid injectables and dry powder injectables production lines were required to be completed by the end of 2013. As of January 1, 2014, we had suspended such two production lines due to the failure to meet the GMP upgrading deadline. However, construction of our new main building has been completed, and two new sterilization production lines have been installed. In November 2014 the CFDA completed their process of the GMP certification for our new facility and issued the GMP certificate to enable us to commence manufacturing our liquid injectables and dry powder injectable product lines.&#160;&#160;We have commenced the operation on the two product lines in the fourth quarter 2014.</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We have completed the upgrading of our existing tablets and capsules production line in our old facility and received new GMP certificate on January 2015. We have begun reforming and upgrading our existing dry powder injectables production line, cephalosporin production line, and granules production line in 2015 to meet the New GMP Standards.</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Raw Materials</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We require a supply of a wide variety of raw materials to manufacture our products.&#160;&#160;We employ purchasing staff with extensive knowledge of our products who work with our product development, and formulations and quality control personnel to source raw materials for our products.&#160;&#160;Currently, we rely on numerous suppliers in the PRC and overseas to deliver our required raw materials and believe we have at least three principal suppliers for each of our most critical raw materials.&#160;&#160;In certain cases, we enter into arrangements with suppliers to hedge against the risk of shortages of supply, and have the capability and warehouse capacity to store such materials if we anticipate a shortage of such materials.&#160;&#160;Historically, we have not had difficulty obtaining raw materials from suppliers. For the year ended December 31, 2014, our purchases from one supplier accounted for approximately 26.5% of raw material purchases.&#160;&#160;For the year ended December 31, 2013, purchases from one supplier accounted for approximately 18.7% of raw material purchases.</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Competition</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We believe we have established a commercially competitive position in the highly-fragmented pharmaceutical industry in China through our core competitive advantages, as described below:</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We have a highly-efficient commercialization process for new products, including significant experience with the CFDA registration process.</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We have over 20 years of product-development experience during which time we have implemented processes to efficiently introduce and market new and existing products to the Chinese market. We have successfully obtained the final production approval from the CFDA for many pharmaceutical products, including fifteen new products in the past ten years.</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We have a market-oriented product portfolio and product lines.</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Our product focus is on developing and manufacturing medicines that help large patient groups, such as the infectious disease and cardio vascular disease patient groups. Our diversified GMP-certified manufacturing facility includes six production lines targeting a variety of delivery mechanisms, such as tablets, capsules,&#160;liquid-injectables and dry powder injectables, which enables us to effectively manufacture a broad range of new drugs. We also have another three production lines under upgrading in order to meet the New GMP Standards.</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We have product diversification to target specific sub-markets.</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We attempt to differentiate our products from those of our competitors by changing, and, in many cases, improving, certain physical aspects of our products to address to different market segments.&#160;&#160;For example, to make our Cefaclor product more patient friendly to children and patients with swallowing problems, we added an enteric coating to make our tablets easier to swallow.</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We have a national sales network and a highly-trained marketing team.</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Our experienced sales team has the industry knowledge and know-how to synergistically combine our strong market insight with a successful commercialization platform.</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We have developed high-quality relationships with leading hospital and clinic administrators and physicians.</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">While sales of our pharmaceutical products to hospitals are made through our distributors, we believe our long-term relationships with leading hospitals and healthcare clinics throughout China resulting from our long-term promotional efforts and periodic physician seminars improve the perception of our products in the marketplace and help us identify and select high-volume drugs to develop into new generic products relatively early in the process.</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We cooperate effectively with a number of leading academic research institutions.</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Through our cooperative efforts with leading academic research institutions, which are our research partners, we are able to develop new product candidates in a cost-effective manner and currently have a number of significant projects in active development in our pipeline.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Notwithstanding such favorable positioning, we are subject to intense competition. There are both local and overseas pharmaceutical enterprises that are engaged in the manufacture and sale of potential substitute or similar pharmaceutical products in the PRC. These competitors may have more capital and better research and development resources, and manufacturing and marketing capability and experience than we do.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Our profitability may be adversely affected if</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In addition, competition from imported products and China's admission as a member of the World Trade Organization (&#8220;WTO&#8221;) creates increased competition. The PRC became a member of the WTO in December 2001. As a result of the admission into the WTO, competition in the pharmaceutical industry in the PRC intensified generally in two respects. With lower import tariffs, imported pharmaceutical products manufactured overseas may become increasingly competitive in terms of pricing. We also believe that well-established foreign pharmaceutical manufacturers may set up production facilities in the PRC and compete with domestic manufacturers directly. With the expected increased supply of competitively-priced pharmaceutical products in the PRC, we may face increased competition from foreign pharmaceutical products, especially in terms of high-end pharmaceutical products, including certain types of products manufactured by U.S. manufacturers.</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Intellectual Property</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We regard our packaging designs, trademarks, trade secrets, patent and similar intellectual property as part of our core competence that is critical to our success. We rely on patent, trademark and trade secret law, as well as confidentiality agreements with certain of our employees, distributors and others to protect our intellectual property rights.</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In November 2008, we purchased the patented medical formula for a cerebral/cardio-vascular indication and the manufacturing processes for that product candidate from a third party laboratory.&#160;&#160;In connection with that acquisition, we obtained the title of the patent.&#160;&#160;This patent expires in 2025.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In 2012, we acquired another patent related to a medical formula for the treatment of cerebral/cardio-vascular diseases. This patent expires in 2029.</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">As of December 31, 2014, we owned 17 registered trademarks, including marks for nine of the 20&#160;&#160;pharmaceutical products we manufacture, including the tradenames Funalin, Fukexing, Beisha, Shiduotai, Xinuo, Pusenlitai, Pusenouke, Shuchang and Shenkaineng, as well as marks for our AFGF logo, our HPS logo, our two HELPSON logos and four other logos. The registration numbers of the 17 registered trademarks are as follows: No.1280259, No.1500459, No.1511770, No.1535416, No.1537828, No.1535420, No.1272792, No.1272759, No.1272760, No.1330294, No.1327731, No.1330295, No.1476339, No.3993785, No. 4074317, No.4074321 and No. 4315247.</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Environmental Matters</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We comply with the Environmental Protection Law of China as well as applicable local regulations. In addition to statutory and regulatory compliance, we actively ensure the environmental sustainability of our operations. Penalties may be levied upon us if we fail to adhere to and maintain certain standards. Such failure has not occurred in the past, and we generally do not anticipate that it will occur in the future, but no assurance can be given in this regard.</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Regulations</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline">Regulations Relating to Pharmaceutical Industry</font>.&#160;The pharmaceutical industry in China is highly regulated. The primary regulatory authority is the CFDA, including its provincial and local branches. As a developer and producer of medicinal products, we are subject to regulation and oversight by the CFDA and its provincial and local branches. The Law of the PRC on the Administration of Pharmaceuticals provides the basic legal framework for the administration of the production and sale of pharmaceuticals in China and covers the manufacturing, distribution, packaging, pricing and advertising of pharmaceutical products. These regulations set forth detailed rules with respect to the administration of pharmaceuticals in China. We are also subject to other PRC laws and regulations that are applicable to business operators, manufacturers and distributors in general.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline">Registration and Approval of Medicine</font>.&#160;&#160;Pursuant to the PRC Provisions for Drug Registration, a medicine must be registered and approved by the CFDA before it can be manufactured and sold. The registration and approval process requires the manufacturer to submit to the CFDA a registration application containing detailed information concerning the efficacy and quality of the medicine and the manufacturing process and the production facilities the manufacturer expects to use. This process generally takes two to five years and could be longer, depending on the nature of the medicine under review, the quality of the data provided and the workload of the CFDA. If a manufacturer chooses to manufacture a pre-clinical medicine, it is also required to conduct pre-clinical trials, apply to the CFDA for permission to conduct clinical trials and go through the clinical trials. If a manufacturer chooses to manufacture a post-clinical medicine, it only needs to go through the clinical trials. In both cases, a manufacturer needs to file clinical data with the CFDA for approval for manufacturing after clinical trials are completed.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline">New Medicine</font>. If a medicine is approved by the CFDA as a new medicine, the CFDA will issue a new medicine certificate to the manufacturer and impose a monitoring period of one to five years. During the monitoring period, the CFDA will monitor the safety of the new medicine, and will neither accept new medicine certificate applications for an identical medicine by another pharmaceutical company, nor approve the production or import of an identical medicine by other pharmaceutical companies. As a result of these regulations, the holder of a new medicine certificate has the exclusive right to manufacture the new medicine during the monitoring period. We currently have new medicine certificates for our Pusenouke, Cefaclor dispersible tablets and Roxithromycin dispersible tablets and Bumetanide for injection products.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline">National Production Standard and Provisional Standard</font>. In connection with the CFDA&#8217;s approval of a new medicine, the CFDA will normally direct the manufacturer to produce the medicine according to a provisional national production standard, or a provisional standard. A provisional standard is valid for two years, during which time the CFDA closely monitors the production process and quality consistency of the medicine to develop a national final production standard for the medicine, or a final standard. Three months before the expiration of the two-year period, the manufacturer is required to apply to the CFDA to convert the provisional standard to a final standard. Upon approval, the CFDA will publish the final standard for the production of this medicine. There is no statutory timeline for the CFDA to complete its review and grant approval for the conversion. In practice, the approval for conversion to a final standard is time-consuming and could take a number of years. However, during the CFDA&#8217;s review period, the manufacturer may continue to produce the medicine according to the provisional standard.&#160;</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline">Transitional Period</font>. Prior to the latter of (1) the expiration of a new medicine&#8217;s monitoring period or (2) the date when the CFDA grants a final standard for a new medicine after the expiration of the provisional standard, the CFDA will not accept applications for an identical medicine nor will it approve the production of an identical medicine by other pharmaceutical companies. Accordingly, the manufacturer will continue to have an exclusive production right for the new medicine during this transitional period.</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Continuing CFDA Regulation</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Pharmaceutical manufacturers in China are subject to continuing regulation by the CFDA. If the labeling or its manufacturing process of an approved medicine is significantly modified, a new pre-market approval or pre-market approval supplement will be required by the CFDA. A pharmaceutical manufacturer is subject to periodic inspection and safety monitoring by the CFDA to determine compliance with regulatory requirements.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The CFDA has a variety of enforcement actions available to enforce its regulations and rules, including fines and injunctions, recall or seizure of products, the imposition of operating restrictions, partial suspension or complete shutdown of production and criminal prosecution.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline">Permits and Licenses for Pharmaceutical Manufacturers</font>. A pharmaceutical manufacturer must obtain a pharmaceutical manufacturing permit from the CFDA&#8217;s relevant provincial branch. This permit is valid for five years and is renewable for an additional five-year period upon its expiration. Our current pharmaceutical manufacturing permit, issued by the CFDA, will expire on December 31, 2015.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline">Good Manufacturing Practice.</font> A pharmaceutical manufacturer must meet the Good Manufacturing Practice standards, or GMP standards, for each of its production facilities in China in respect of each form of pharmaceutical product it produces.&#160;&#160;GMP standards include staff qualifications, production premises and facilities, equipment, raw materials, environmental hygiene, production management, quality control and customer complaint administration. If a manufacturer meets the GMP standards, the CFDA will issue to the manufacturer a Good Manufacturing Practice certificate, or a GMP certificate, with a five-year validity period.&#160;&#160;However, for a newly-established pharmaceutical manufacturer that meets the GMP standards, the CFDA will issue a GMP certificate with only a one-year validity period. The New GMP Standards became effective on March 1, 2011 and&#160;&#160;pharmaceutical manufacturers (except manufacturers of injectables, blood products or vaccines, which have a three-year grace period) have a five-year grace period to upgrade existing facilities to comply with the revisions.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We obtained three GMP certificates for our manufacturing facility in respect of the majority form of pharmaceutical product we produce, one valid until October 30, 2019 (lyophilized powder for injection, small volume parenteral solutions), one valid until January 2020 (tablets, capsules), and one valid until December 31, 2015 (tables, capsule - cephalosprins).&#160;&#160;All of our GMP certificates are valid for five years.&#160;&#160;While we are required to implement certain upgrades to our manufacturing facilities to comply with the new GMP standards, we do not currently anticipate any difficulty in renewing these certificates when we finish the facility upgrading.&#160;&#160;</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Product liability claims may arise if any pharmaceutical products sold have a harmful effect on the consumers, and the injured party may claim for damages or compensation. The General Principles of the Civil Law of the PRC, which became effective in January&#160;1987, state that manufacturers and sellers of defective products causing property damage or injury shall incur civil liabilities for such damage or injuries.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The Product Quality Law of the PRC was enacted in 1993 and amended in 2000 to strengthen the quality control of products and protect consumers&#8217; rights and interests. Under this law, manufacturers and distributors who produce or sell defective products may be subject to confiscation of earnings from such sales, revocation of business licenses and imposition of fines, and in severe circumstances, may be subject to criminal liability.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The Law of the PRC on the Protection of the Rights and Interests of Consumers was promulgated on October&#160;31, 1993 and became effective on January&#160;1, 1994 to protect consumers when they purchase or use goods or services. All business operators must comply with this law when they manufacture or sell goods and/or provide services to customers. In extreme situations, pharmaceutical product manufacturers and distributors may be subject to criminal liability if their goods or services lead to the death or injuries of customers or other third parties.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The retail prices of some pharmaceutical products sold in China, primarily those included in the Essential Drug and Reimbursement Lists and those pharmaceutical products for which production or distribution are deemed to constitute monopolies, are subject to price controls in the form of retail price ceilings. In particular, manufacturers or distributors cannot freely set or change the retail price for any price-controlled product above the applicable price ceiling or deviate from the applicable fixed price imposed by the PRC government. The prices of medicines that are not subject to price controls are determined freely at the discretion of the respective pharmaceutical companies, subject to notification to the provincial pricing authorities. The National Development and Reform Commission (NDRC) may grant premium pricing status to certain pharmaceutical products that are subject to price controls, and may set the price-ceiling for pharmaceutical products that have obtained such status.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Only the manufacturer of a medicine may apply for an increase in the retail price of the medicine, and it must either apply to the provincial price control authorities in the province in which it is incorporated, if the medicine is provincially regulated, or to the NDRC, if the medicine is regulated by the NDRC. For a provincially regulated medicine, in cases where provincial price control authorities approve an application, manufacturers must file the newly-approved price with the NDRC for record and thereafter the newly-approved price will become binding and enforceable across China.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We currently have two products listed in the National Essential Drug List (EDL).&#160;&#160;Periodic reductions in the consumer prices of those products due to price changes implemented by the PRC government have had only a minimal impact on our revenues.&#160;&#160;The government announced two rounds of retail drug price cuts in 2011, first in March when the NDRC cut the maximum prices of certain antibiotics and circulatory system drugs by an average of 21%, and in August when prices for 32 types of endocrine and neurological drugs were cut by an average of 14%.</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Reimbursement under the National Medical Insurance Program</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">By the end of 2012, approximately 1.3 billion people had been enrolled into the National Medical Insurance Program (NMIP). The Ministry of Labor and Social Security, together with other government authorities, determines which medicines are to be included in or removed from the national medicine catalog for the NMIP, and under which tier a medicine should fall, both of which affect the amounts reimbursable to program participants for their purchases of those medicines. These determinations are based on a number of factors, including price and efficacy. A NMIP participant can be reimbursed for the full cost of a Tier 1 medicine and 80-90% of the cost of a Tier 2 medicine.</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Although it is designated as a national program, the implementation of the NMIP is delegated to various provincial governments, each of which has established its own medicine catalog. A provincial government must include all Tier 1 medicines listed in the national medicine catalog in its provincial medicine catalog, but may use its discretion based on its own selection criteria to add other medicines to, or exclude Tier 2 medicines listed in the national medicine catalog from its provincial medicine catalog, so long as the combined numbers of the medicines added and excluded do not exceed 15% of the number of the Tier 2 medicines listed in the national catalog. In addition, provincial governments may use their discretion to upgrade a nationally classified Tier 2 medicine to Tier 1 in their provincial medicine catalogs, but may not downgrade a nationally classified Tier 1 medicine to Tier 2.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The total amount of reimbursement for the cost of prescription and OTC medicines, in addition to other medical expenses, for an individual program participant in a calendar year is capped at the amount in that participant&#8217;s individual account. The amount in a participant&#8217;s account varies, depending upon the amount of contributions from the participant and his or her employer. Generally, on average, program participants who are from relatively wealthier eastern parts of China and relatively wealthier metropolitan centers have greater amounts in their individual accounts than those from less developed provinces.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Currently, all of our pharmaceutical products are listed on the National Insurance Catalogue (NIC), and only two of our products -Vitamin B6 and Cefalexin - are listed on the EDL. However, some of our non-EDL drugs have been selected to enter the provincial EDL, which varies from province to province. We believe these drugs will experience an increase in sales volume due to the government-initiated promotion of those drugs, while remaining free from the pricing pressures often experienced by drugs listed on the EDL.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In addition to the regulations relating to pharmaceutical industry in China, we are also subject to the regulations applicable to a foreign invested enterprise in China.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline">Foreign Currency Exchange.&#160;&#160;</font>Pursuant to the Foreign Currency Administration Rules promulgated in 1996 and amended in 1997 and various regulations issued by State Administration of Foreign Exchange, or the SAFE, and other relevant PRC government authorities, Renminbi is freely convertible only to the extent of current account items, such as trade-related receipts and payments, interests and dividends. Capital account items, such as direct equity investments, loans and repatriation of investment, require the prior approval from the SAFE or its local counterpart for conversion of Renminbi into a foreign currency, such as U.S. dollars, and remittance of the foreign currency outside the PRC.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Payments for transactions that take place within the PRC must be made in Renminbi. Unless otherwise approved, PRC companies other than foreign investment enterprises (FIEs) must convert foreign currency payments they receive from abroad into Renminbi. On the other hand, FIEs may retain foreign exchange in accounts with designated foreign exchange banks, subject to a cap set by the SAFE or its local counterpart.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline">Dividend Distribution.&#160;&#160;</font>Under the PRC&#160;&#160;regulations governing dividend distributions by wholly foreign-owned enterprises and Sino-foreign equity joint ventures, wholly foreign-owned enterprises and Sino-foreign equity joint ventures in the PRC may pay dividends only out of their accumulated profits, if any, determined in accordance with PRC accounting standards and regulations. Additionally, these foreign-invested enterprises are required to set aside certain amounts of their accumulated profits each year, if any, to fund certain reserve funds. These reserves are not distributable as cash dividends.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">As of December 31, 2014, we had 439 employees, among which 397 employees were full-time employees and 42 employees were&#160;temporary employees.&#160;&#160;&#160;None of our employees is represented by a labor union and, in general, we consider our relationship with our employees to be good.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">As required by applicable Chinese law, we have entered into employment contracts with substantially all of our officers, managers and employees. We are working towards entering into employment contracts with those employees who do not currently have employment contracts with us. The PRC enacted a new Labor Contract Law, which became effective on January 1, 2008. We have updated our employment contracts and employee handbook and are in compliance with such law.</font></font></div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">ITEM 1A. RISK FACTORS</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">The commercial success of our products depends upon the degree of their market acceptance among the medical community. If our products do not attain market acceptance among the medical community, our operations and profitability would be adversely affected.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">If we fail to meet the New GMP Standards, the production at three of our old production lines will be&#160;&#160;suspended and our operations and profitability would be adversely affected.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We are in the process of upgrading our old production facilities to bring them in line with the New GMP Standards which became effective as of March 1, 2011. We have completed the upgrading of our existing tablets and capsules production lines in our old facility and received new GMP certificate in January 2015. And we have begun reforming and upgrading our existing dry powder injectables production line, cephalosporin production line, and granules production line in 2015 to meet the New GMP Standards.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">If we are not able to satisfy the requirements of the new GMP guidelines and obtain clearance from the CFDA, our existing tablets and capsules production lines shall be suspended and we may be subject to fines or other penalties, all of which may have a material and adverse impact on our business, financial condition and results of operations.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">We may be subject from time to time to product recalls initiated by us or by the CFDA. Product recalls could impose significant costs on us and adversely affect our ability to generate revenue.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">During our course of business, we must comply with a variety of product safety and product testing regulations. In particular, our products are subject to, among other statutes and regulations, those issued by the CFDA. If the CFDA issues any notices to cease the production, sale and use of any of our products, we should comply with such requirements. As a result, we may incur significant costs in complying with cessation requirements, and our financial results could be materially and adversely affected. Furthermore, concerns about potential liability or potential future changes in product safety regulations may lead us to voluntarily recall or otherwise discontinue selling selected products, which could materially and adversely affect our results of operations.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;In March 2013, CFDA issued a nationwide notice (the &#8220;CFDA Notice&#8221;) for the cessation of the production, sale and use of Buflomedil effective immediately. The CFDA Notice was a result of the reevaluation done by the CFDA based on the indications from the recent Chinese and international research materials, which found that the risks of side effects to the nervous system and the cardiovascular system from Buflomedil have surpassed its clinical treatment benefits. The CFDA Notice was applicable to all the manufacturers and distributers in China who are in the business of the production and sale of Buflomedil-related products.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Recalls could also harm our reputation, increase our costs and reduce our net sales. Governments and regulatory agencies in the markets where we manufacture and sell products may enact additional regulations relating to product safety and consumer protection in the future or take other actions. The CFDA has the authority to revoke drug approvals previously granted and remove from the market previously approved products for various reasons.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">If we fail to develop new products with high profit margins and our high-profit-margin products are replaced by competitors&#8217; products, then our gross and net profits margins will be adversely affected.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We had gross profit margin of 22% for the year ended December 31, 2014 compared to gross loss margin of 1.5% for the year ended December 31, 2013. Without the effect of inventory obsolescence, management estimates that our gross profit would have been approximately 30.9% in 2014 and 28.7% in 2013. It remains to be true that the pharmaceutical market in the PRC is very competitive, and there may be pressure to reduce sale prices of products without a corresponding decrease in the cost of sold products. To the extent that we fail to develop new products with high profit margins and our high-profit-margin products are substituted by competitors&#8217; products, our gross profit margins and net profit margins will be adversely affected. In addition, in the event that our products are included in the EDL, which is subject to high level of governmental price control, our gross profit margin and net profit margins could be adversely affected notwithstanding any increase in our revenues that may result from the listing of such products on EDL.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Our products face substantial competition. Other companies may discover, develop, acquire or commercialize products earlier or more successfully than we do.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We operate in a highly competitive environment. Our products compete with other products or treatments for diseases for which our products may be indicated. Many of our products may compete against products that have lower prices, superior performance, greater ease of administration or other advantages compared to our products. We would face enhanced competition if competitive products are added to the National Medical Insurance Program. Our inability to compete effectively could reduce sales or margins, which could have a material adverse effect on our results of our operations.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Some of our competitors are actively engaged in research and development in areas in which we have products or in which we are developing product candidates or new indications for existing products. In the future, we expect that our products will compete with new drugs currently in development, drugs approved for other indications that may be approved for the same indications as those of our products and drugs approved for other indications that are used off-label. If alternatives to our products are dispensed or prescribed to patients, the volume of our competing products may decline or we may be required to lower the price of our competing products to remain competitive, either of which could negatively impact our sales. In addition, an increasing number of foreign pharmaceutical companies have introduced their pharmaceutical products into the Chinese market. Competitive products introduced by these companies can also negatively impact our sales and results of operations.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Large Chinese state-owned and privately owned pharmaceutical companies and foreign-invested or foreign pharmaceutical companies may have greater clinical, research, regulatory, manufacturing, marketing, financial and human resources than we do. In addition, some of our competitors may have technical or competitive advantages over us with respect to the development of technologies and processes. These resources may make it difficult for us to compete with them to successfully discover, develop and market new products and for our current products to compete with new products or new product indications that these competitors may bring to market. There may also be significant consolidation in the pharmaceutical industry among our competitors. Alliances may develop among competitors, and these alliances may rapidly acquire significant market share.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Furthermore, in order to gain market share in China, competitors may significantly increase their advertising expenditures and promotional activities or engage in irrational or predatory pricing behavior. In addition, our competitors may engage in inappropriate competition or illegal acts, such as bribery. Third parties may actively engage in activities designed to undermine our brand name and product quality or to influence customer confidence in our products. Increased competition may result in price reductions, reduced margins and loss of market share, any of which could materially adversely affect our profit margins. We may not be able to compete effectively against current and future competitors.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Most of our products are off-patent branded generics that can be manufactured and sold by other pharmaceutical manufacturers in the PRC once the relevant protection or monitoring periods, if any, elapse.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Most of our products are off-patent branded generic pharmaceuticals and are not protected by intellectual property rights. As a result, other pharmaceutical companies may sell equivalent products at a lower cost, and this might result in a commensurate loss in sales of our branded generic products or require us to lower our prices to compete. Certain of our generic products are subject to protection during the CFDA&#8217;s monitoring period. During such period, the CFDA will not accept applications for new medicine certificates for the same product by other pharmaceutical companies or approve the production or import of the same product by other pharmaceutical companies. Once such monitoring period expires, other manufacturers may obtain relevant production approvals and will be entitled to sell generic pharmaceutical products with similar formulae or production methods in China. The maximum monitoring period currently granted by the CFDA is five years from the date the CFDA production approval is issued. As a result, we expect to face increased competition for our products following the expirations of their respective monitoring periods. If other pharmaceutical companies sell pharmaceutical products that are similar to our unprotected products or our protected products for which the relevant protection or monitoring period has expired, we may face additional competition and our business and profitability may be adversely affected.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Our business depends in part on our well-known Helpson brand name, and if we are not able to maintain and enhance our brand recognition to maintain our competitive advantage, our reputation, business and operating results may be harmed.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We believe that market awareness of our Helpson brand has contributed significantly to the success of our business. We also believe that maintaining and enhancing the Helpson brand is critical to maintaining our competitive advantage. Although our sales and marketing staff will continue to further promote our brand to remain competitive, we may not be successful. If we are unable to further enhance our brand recognition and increase awareness of our products, or if we are compelled to incur excessive marketing and promotion expenses in order to maintain our brand awareness, our business and results of operations may be materially and adversely affected. Furthermore, our sales and results of operations could be adversely affected if the Helpson brand or our reputation is impaired by recalls or negative publicity for one of our branded products, and certain actions taken by our distributors, competitors, third-party marketing firms or relevant regulatory authorities.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Pricing of our principal products is subject to government approval. Changes in government control on prices of our products may limit our profitability or cause us to stop manufacturing certain products.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The prices of pharmaceutical products listed in the national medical insurance catalog and other medicines, the production or trading of which may constitute monopolies, are subject to the control of the NDRC of the PRC and the relevant provincial or local price control authorities, either in the form of fixed prices or price ceilings. From time to time, the NDRC publishes a list of medicines subject to price controls. The NDRC directly regulates retail prices of certain medicines on the list and authorizes provincial price control authorities to regulate retail prices of the remaining products on that list. Because of these price controls, which are in the form of price ceilings, it would be difficult for us to raise the wholesale prices of any products subject to such controls if their price ceilings are not raised by the NDRC. The limitation on our ability to raise the wholesale prices of our products may prevent us from absorbing or offsetting the effect resulting from any increase in the cost of raw materials or other costs, which would lower our margins. We are required to file the prices of our products with the provincial price control authorities. The prices of our products may be adjusted downward by the relevant governmental authorities in the future. Separately, the government implemented two rounds of retail drug price cuts in 2012, first in May when the NDRC cut the maximum prices of certain digestive diseases drugs by an average of 17%, and in October when prices for certain tumor, immune system and hematological system drugs were cut by an average of 17%. The government then implemented another round of retail drug price cut in February 2013 when prices for respiratory, antipyretic and analgesic drugs were cut by an average of 15%. In addition, since the prices of all medicines are set by NDRC or relevant governmental authorities, if we are required to lower the wholesale prices to distributors of our principal products in the future as a result of any government-mandated reduction in the price ceilings of our products, our future revenue and profitability would be adversely affected.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Reimbursement may not be available for our products, which could diminish our sales or affect our ability to sell our products profitably.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Market acceptance and sales of our products also depend to a large extent on the reimbursement policies of the PRC government. The Ministry of Labor and Social Security of the PRC or provincial or local labor and social security authorities, together with other government authorities, review the inclusion or removal of drugs from the national medical insurance catalog or provincial or local medical insurance catalogs for the National Medical Insurance Program every other year, and catalogs under which a drug will be classified affects the amounts reimbursable to program participants for their purchases of those medicines. These determinations are made based on a number of factors, including price and efficacy. Generally, there are two catalogs, the NIC and the EDL on which a product can be included. The products selected for the EDL generally are selected from the NIC. A consumer can be reimbursed for the full cost of a medicine on the EDL and can be reimbursed for 80% to 90% of the cost of a medicine listed on the NIC. Our Vitamin B6,Cefalexin, Clarithromycin and Omeprazole products are currently included in the EDL. If the relevant government authorities decide to remove these products from the medicine catalogs, such removal may reduce the affordability of our products and change the public perception regarding our products, which, in turn, would adversely affect the sales of these products and reduce our net revenue. Furthermore, if we are unable to obtain approval from the relevant government authorities to include our new products in the national, provincial or local medicine catalogs, sales of our new products maybe materially and adversely affected.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">The growth and success of our business depend on our ability to successfully market our principal products to hospitals and their selection in tender processes used by hospitals for medicine purchases.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Our future growth and success significantly depend on our ability to successfully market our principal products to hospitals as prescription medicines. Approximately 90% of the end-customers of our products were hospitals. Hospitals may make bulk purchases of a medicine included in the national and provincial medicine catalogs only if that medicine is selected under a government-administered tender process. The interest of a hospital in a medicine is evidenced by:</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">the willingness of physicians at a hospital to prescribe this medicine to their patients.</font></div>
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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We believe effective marketing efforts are critical in making and keeping hospitals and physicians interested in purchasing our products. If our marketing efforts are not effective, hospital administrators may not want to include our products in their formularies or may remove them from their formularies, or physicians may not be interested in prescribing our products to their patients. As a result, we may find it difficult to maintain the existing level of sales of our products, and our revenues and profitability may decline.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Our future research and development projects may not be successful.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The successful development of pharmaceutical products can be affected by many factors. Products that appear to be promising at their early phases of research and development may fail to be commercialized for various reasons, including the failure to obtain the necessary regulatory approvals. In addition, the research and development cycle for new products for which we may obtain an approval certificate is long. The process of conducting basic research and various stages of tests and trials of a new product before obtaining an approval certificate and commercializing the product may require ten years or longer. A few of our product candidates are in the early stages of pre-clinical study and clinical trial and we must conduct significant additional clinical trials before we can seek the regulatory approvals necessary to begin commercial production and sales of these products. There is no assurance that our future research and development projects will be successful or completed within the anticipated time frame or budget or that we will receive the necessary approvals from relevant authorities for the production of these newly developed products, or that these newly-developed products will achieve commercial success.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Others may obtain approval for a competitive product before the product we are developing is approved. In that case, we may be precluded from getting approval until the competitor&#8217;s monitoring period expires and realize little or no benefit from our research and development investment.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Even if such products can be successfully commercialized, they may not achieve the level of market acceptance that we expect. In addition, the pharmaceutical industry is characterized by rapid changes in technology, constant enhancement of industrial know-how and frequent emergence of new products. Future technological improvements and continual product developments in the pharmaceutical market may render our existing products obsolete or affect their viability and competitiveness. Therefore, our future success will largely depend on our development capability, including our ability to improve our existing products, diversify our product range and develop new and competitively-priced products that can meet the requirements of the changing market. Should we fail to respond to these frequent technological advances by improving our existing products or developing new products in a timely manner or these products do not achieve a desirable level of market acceptance, our business and profitability will be materially and adversely affected.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">We cooperate with research institutions and universities in the PRC for the research and development of certain new products and any failure of such research institutions to meet our timing and quality standards or our failure to continue such collaborative arrangement or enter into such new arrangements could adversely affect our ability to develop new pharmaceuticals and our overall business prospects</font>.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Our business strategy includes collaborating with third parties for research and development of new products. We maintained long-term cooperative relationships with a number of research institutions and universities in the PRC. These research institutions and universities have collaborated with us in a number of research projects and certain of our products that have obtained approval certificates were developed by such research institutions. At present, several research institutions and universities are working with us on various research and development projects. Any failure of such research institutions to meet the required quality standards and timetables set forth in their research agreements with us, or our inability to enter into additional research agreements with these research institutions on terms acceptable to us in the future, may have an adverse effect on our ability to develop new medicines and on our business prospects. In addition, the growth of our business and development of new products may require that we seek additional research institutions. We cannot assure you that we will be able to enter into agreements with new parties on terms acceptable to us. Our inability to enter into such agreements or our failure to maintain such arrangements could limit the number of new products that we develop and ultimately decrease our sources of future revenue.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">We may not be able to obtain regulatory approval for any of the new products and failure to obtain these approvals could materially harm our business.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">All new medicines must be approved by the CFDA before they can be marketed and sold in the PRC. The CFDA requires successful completion of clinical trials and demonstrated manufacturing capability before it grants approval. It often takes a number of years before a medicine can be ultimately approved by the CFDA. In addition, the CFDA and other regulatory authorities may apply new standards for safety, manufacturing, packaging, and distribution of future product candidates.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Complying with such standards may be time-consuming and expensive and could result in delays in obtaining CFDA approval for our future product candidates, or possibly preclude us from obtaining CFDA approval altogether. For example, due to the enhanced criteria introduced during the implementation process of the trial of one of our products in the pipeline, Anti-Drug-Resistant Cephalosporin, the clinical trials lasted longer than originally expected. Furthermore, our future products may not be effective or may prove to have undesirable or unintended side effects, toxicities or other characteristics that may preclude us from obtaining regulatory approval or prevent or limit commercial use. The CFDA and other regulatory authorities may not approve the products that we develop and even if we do obtain regulatory approvals, such regulatory approvals may be subject to limitations on the indicated uses for which we may market a product, which may limit the size of the market for such product.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">New product development in the pharmaceutical industry is time-consuming and costly and has a low rate of successful commercialization</font>.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Our success will depend in part on our ability to enhance our existing products and to develop new products. The development process for pharmaceutical products is complex and uncertain, as well as time-consuming and costly. Relatively few research and development programs produce a commercial product. A product candidate that appears promising in the early phases of development may fail to reach the market for a number of reasons, such as:</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">proprietary rights, such as patent rights, held by others to our product candidates and their refusal to sell or license such rights to us on reasonable terms, or at all.</font></div>
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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Delays in any part of the development process or our inability to obtain regulatory approval of our products could adversely affect our operating results by restricting or delaying our introduction of new products. Even if we successfully commercialize new products, these products may address markets that are currently being served by our mature products and may result in a reduction in the sales volume of our mature product or vice versa. Failure to develop, obtain necessary regulatory clearances or approvals for or successfully commercialize or market potential new products or technologies could have a material adverse effect on our financial condition and results of operations.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">We may not be able to successfully identify and acquire new products or businesses</font>.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In addition to our own product development efforts, our growth strategy also relies on our acquisitions of new product candidates, products or businesses from third parties. Any future growth through acquisitions will be dependent upon the continued availability of suitable acquisition candidates at favorable prices and upon advantageous terms and conditions. Even if such opportunities are present, we may not be able to successfully identify them. Moreover, other companies, many of which may have substantially greater financial, marketing and sales resources, are competing with us for the right to acquire such product candidates, products or businesses.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">We depend on distributors for all of our revenues and failure to maintain relationships with our distributors or to otherwise expand our distribution network would materially and adversely affect our business</font>.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We sell our products exclusively to pharmaceutical distributors in the PRC and depend on distributors for all of our revenues. We have business relationships with over 1,000 distributors in the PRC. For the year ended December 31, 2014, one distributor accounted for 16.2% of our revenues. For the year ended December 31, 2014, onedistributor accounted for 17.7% of our accounts receivable. In line with industry practices in the PRC, we enter into written sales agreements with our distributors. However, such sales agreements are not in substance equivalent to a typical distribution agreement in the United States. Each sales agreement is more in the form of a sales order and specifies one or several purchases of one or more products without any continuing obligation to purchase any additional amount of products. In the event certain distributors choose not to continue their relationship with us after completing their existing sales agreements, they can do so without breaching any contract or agreement and our financial results could be adversely affected if we cannot find the equivalent distributors in time under such circumstances. In addition, some of our distributors may sell products that compete with our products. We compete for desired distributors with other pharmaceutical manufacturers, many of which may have higher visibility, greater name recognition and financial resources, and broader product selection than we do. Consequently, maintaining relationships with existing distributors and replacing distributors may be difficult and time consuming. Any disruption of our distribution network, including our failure to renew our existing distribution agreements with our desired distributors, could negatively affect our ability to effectively sell our products and would materially and adversely affect our business, financial condition and results of operations.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">We rely on a limited number of distributors for the majority of sales of our products</font>.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160; We rely on a limited number of distributors for most of our net revenue. Our top five distributors in the aggregate accounted for 31% and 38% of our net revenues in 2014 and 2013, respectively. We expect that a relatively small number of our distributors will continue to account for a major portion of our net revenue in the near future. Our dependence on a few distributors could expose us to the risk of substantial losses if a single large distributor stops purchasing our products, purchases fewer of our products or goes out of business and we cannot find substitute distributors on equivalent terms. If any of our significant distributors reduces the quantity of the products they purchase from us or stops purchasing from us, our net revenue would be materially and adversely affected.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Our operations may be affected if we could not obtain raw materials from our current key suppliers on acceptable terms.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We require a supply of a wide variety of raw materials to manufacture our products. Currently, we rely on numerous suppliers in the PRC and overseas to deliver our required raw materials and believe we have at least three principal suppliers for each of our most critical raw materials. For the year ended December 31, 2014 and 2013, purchases from one supplier accounted for 26.5% and 18.7% of our raw material purchases, respectively.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Historically, we have not had difficulty obtaining raw materials from suppliers. However, we cannot predict the impact on our suppliers of the current economic environment and other developments in their respective businesses. Insolvency, financial difficulties or other factors may result in our suppliers not being able to fulfill the terms of their agreements with us. Furthermore, such factors may render suppliers unwilling to extend contracts that provide favorable terms to us or may force them to seek to renegotiate existing contracts. Although we believe we have alternative sources of supply for the raw materials used in our business, termination of our relationship with any of our key suppliers could have a material adverse effect on our business, financial condition or results of operations in the unlikely event that we are unable to obtain adequate raw materials from other sources in a timely manner or at all.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">We may not be able to effectively manage our employees and distribution network, and our reputation, business, prospects and brand may be materially and adversely affected by actions taken by our distributors and third party marketing firms.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In addition, although our company policies prohibit our employees from making improper payments to hospitals or otherwise engaging in improper activities to influence the procurement decisions of hospitals, we may not be able to effectively manage our employees, as the compensation of our sales and marketing personnel is partially linked to their sales performance. As a result, we cannot assure you that our employees will not violate the anticorruption laws of the PRC, the United States and other countries. Such violations could have a material adverse effect on our reputation, business, prospects and brand.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Failure to adequately manage our employees, distribution network or third-party marketing firms, or their non-compliance with employment, distribution or marketing agreements could harm our corporate image among hospitals and end users of our products and disrupt our sales, resulting in a failure to meet our sales goals. Furthermore, we could be liable for actions taken by our employees, distributors or third-party marketing firms, including any violations of applicable law in connection with the marketing or sale of our products, including China&#8217;s anticorruption laws and the Foreign Corrupt Practices Act of the United States, or the FCPA. In particular, if our employees, distributors or third-party marketing firms make any payments that are forbidden under the FCPA, we could be subject to civil and criminal penalties imposed by the U.S. government.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Recently, the PRC government has increased its anti-corruption measures. In the pharmaceutical industry, corrupt practices include, among others, acceptance of kickbacks, bribes or other illegal gains or benefits by the hospitals and medical practitioners from pharmaceutical manufacturers and distributors in connection with the prescription of certain pharmaceuticals. Our employees, affiliates, distributors or third-party marketing firms may violate these laws or otherwise engage in illegal practices with respect to their sales or marking of our products or other activities involving our products. If our employees, affiliates, distributors or third-party marketing firms violate these laws, we could be required to pay damages or fines, which could materially and adversely affect our financial condition and results of operations. In addition, PRC laws regarding what types of payments to promote or sell our products are impermissible are not always clear. As a result, we, our employees, affiliates, our distributors or third-party marketing firms could make certain payments in connection with the promotion or sale of our products or other activities involving our products which at the time are considered by us or them to be legal but are later deemed impermissible by the PRC government. Furthermore, our brand and reputation, our sales activities or the price of our common stock could be adversely affected if we become the target of any negative publicity as a result of actions taken by our employees, affiliates, distributors or third-party marketing firms.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">We have limited insurance coverage and may incur losses resulting from product liability claims, business interruptions or claims that could be covered by D&amp;O Insurance.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The nature of our business exposes us to the risk of product liability claims that is inherent in the research and development, manufacturing and marketing of pharmaceutical products. Using product candidates in clinical trials also exposes us to product liability claims. These risks are greater for our products that receive regulatory approval for commercial sale. Even if a product is approved for commercial use by an appropriate governmental agency, there can be no assurance that users will not claim effects other than those intended resulted from the use of our products. While to date no material claim for personal injury resulting from allegedly defective products has been brought against us, a substantial claim or a substantial number of claims, if successful, could have a material adverse impact on our business, financial condition and results of operations. Such lawsuits may divert the attention of our management from our business strategies, may be costly to defend and may negatively impact our reputation and our Helpson brand&#8217;s reputation, and harm the sales of our other branded products. In addition, product liability insurance for pharmaceutical products is not available in the PRC. In the event of allegations that any of our products are harmful, we may experience reduced consumer demand for our products or our products may be recalled from the market. We may also be forced to defend lawsuits and, if unsuccessful, to pay a substantial amount in damages. In addition, business interruption insurance available in the PRC offers limited coverage compared to that offered in many other countries. We do not have any business interruption insurance. Any business disruption or natural disaster could result in substantial costs and diversion of resources. Lastly, we currently do not have directors and officers insurance. In the event we or any of our directors or officers are sued under any proceedings or actions that could be covered by a standard D&amp;O insurance, we may incur substantial costs and expenses to defend such case.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Our future liquidity needs are uncertain and we may need to raise additional funds in the future.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Based on our current operating plans, we expect our existing resources to be sufficient to fund our existing operations for at least 12 months. However, we may be required to raise additional funds to expand our operations. In addition, we may, need to raise additional funds if our expenditures exceed our current expectations. This could occur for a number of reasons, including:</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">economic, political and other conditions in China and elsewhere.</font></div>
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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We cannot assure you that our revenues will be sufficient to meet our operational needs and capital requirements. If we need to obtain external financing, we cannot assure you that financing will be available in amounts or on terms acceptable to us, if at all. Our future liquidity needs and other business reasons could require us to sell additional equity or debt securities or obtain a credit facility. The sale of additional equity or equity-linked securities could result in additional dilution to our stockholders. The incurrence of additional indebtedness would result in increased debt service obligations and could result in operating and financing covenants that would restrict our operations.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">We may undertake acquisitions in the future, and any difficulties in integrating these acquisitions may damage our profitability.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In the future, we may acquire additional businesses or products that complement our existing business and expand our business scale. The integration of new businesses and products may prove to be an expensive and time consuming procedure. We can offer no assurance that we will be able to successfully integrate the newly acquired businesses and products or operate the acquired business in a profitable manner. Failure to locate an appropriate acquisition target, failure to successfully integrate and operate acquired businesses and products, and failure to identify substantial liabilities associated with acquired businesses, may materially adversely impact our operations and profits.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">The failure to manage growth effectively could have an adverse effect on our business, financial condition and results of our operations.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The rapid market growth of our pharmaceutical products may require us to expand our employee base for managerial, operational, financial and other purposes. As of December 31, 2014, we had 439 employees. Our future development will impose significant responsibilities upon the members of management to identify, recruit, maintain, integrate and motivate new employees. Aside from the increased difficulties in the management of human resources, we may also encounter working capital issues, as we need increased liquidity to finance the purchases of raw materials and supplies, research and development and purchase of drug formulas for new products, acquisition of new businesses and technologies, and the hiring of additional employees. For effective growth management, we will be required to continue improving our operations, management, and financial systems and control. Our failure to manage growth effectively may lead to operational and financial inefficiencies that will have a negative effect on our profitability.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">We depend upon key employees and consultants in a competitive market for skilled personnel. If we are unable to attract and retain key personnel, it could adversely affect our ability to develop and market our products.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We are highly dependent upon the principal members of our management team, especially Ms. Zhilin Li, our Chairman, President and Chief Executive Officer. The loss of the services of Ms. Li&#160;&#160;would adversely affect our ability to develop and market our products. We also depend in part on the continued services of our key scientific personnel and our ability to identify, hire and retain additional personnel, including marketing and sales staff. We face intense competition for qualified personnel, and the existence of noncompetition agreements between prospective employees and their former employers may prevent us from hiring those individuals or subject us to suit from their former employers. While we attempt to provide competitive compensation packages to attract and retain key personnel, many of our competitors are likely to have greater resources and more experience than we have, making it difficult for us to compete successfully for key personnel.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Certain of our employees and consultants were previously employed at other biotechnology or pharmaceutical companies, including our competitors or potential competitors, or at universities or other research institutions. Although no claims against us are currently pending, we may be subject to claims that these employees or consultants have, inadvertently or otherwise, used or disclosed trade secrets or other proprietary information of their former employers. Litigation may be necessary to defend against these claims. Even if we are successful in defending against these claims, litigation could result in substantial costs and be a distraction to our management. If we fail in defending such claims, in addition to paying monetary damages, we may lose valuable intellectual property rights or personnel.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We are subject to PRC laws and regulations concerning the discharge of waste water, gaseous waste and solid waste during our manufacturing processes. We are required to establish and maintain facilities to dispose of waste and report the volume of waste to the relevant government authorities, which conduct scheduled or unscheduled inspections of our facilities and treatment of such discharge. We may not at all times comply fully with environmental regulations. Any violation of these regulations may result in substantial fines, criminal sanctions, revocations of operating permits, shutdown of our facilities and obligation to take corrective measures. Our cost of complying with current and future environmental protection laws and regulations and our liabilities which may potentially arise from the discharge of effluent water and solid waste may materially adversely affect our business, financial condition and results of operations. The government may take steps towards the adoption of more stringent environmental regulations. Due to the possibility of unanticipated regulatory or other developments, the amount and timing of future environmental expenditures may vary substantially from those currently anticipated. If there is any unanticipated change in the environmental regulations, we may need to incur substantial capital expenditures to install, replace, upgrade or supplement our pollution control equipment or make operational changes to limit any adverse impact or potential adverse impact on the environment in order to comply with new environmental protection laws and regulations. If such costs become prohibitively expensive, we may be forced to cease certain aspects of our business operations.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160; All of our products are produced at our manufacturing facility in Hainan, China. A significant disruption at that facility, even on a short-term basis, could impair our ability to timely produce and ship products, which could have a material adverse effect on our business, financial position and results of operations. Our manufacturing operations are vulnerable to interruption and damage from natural and other types of disasters, including earthquake, fire, floods, environmental accidents, power loss, communications failures and similar events. If any disaster were to occur, our ability to operate our business at our facilities would be seriously impaired. For example, a once-in-forty-year 16 grade super typhoon Rammasun hit Haikou on July 18, 2014 which caused us approximately $2.3 million (RMB14.2 million) losses. Part of the warehouse was flooded; some damage was caused to our new facility while the water and electricity supply was suspended for several days causing a brief halt to our production activities and a delay our in obtaining the new GMP certificate.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In addition, we do not maintain any insurance other than property insurance for some of our buildings and equipment. Accordingly, unexpected business interruptions resulting from disasters could disrupt our operations and thereby result in substantial costs and diversion of resources. Our production process requires a continuous supply of electricity. We have encountered power shortages historically due to restricted power supply to industrial users during summers when the usage of electricity is high and supply is limited or as a result of damage to the electricity supply network. Because the duration of those power shortages was brief, they had no material impact on our operations. Interruptions of electricity supply could result in lengthy production shutdowns, increased costs associated with restarting production and the loss of production in progress. Any major suspension or termination of electricity or other unexpected business interruptions could have a material adverse impact on our business, financial condition and results of operations.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">The discontinuation of any preferential tax treatments or other incentives currently available to us in the PRC could materially and adversely affect our business, financial condition and results of operations.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Prior to January 1, 2008, pursuant to the original Income Tax Law of the PRC for Enterprises with Foreign Investment and Foreign Enterprises and its implementation rules, a foreign invested enterprise as defined under PRC laws was required to pay a 30% corporate income tax and a 3% local income tax; an enterprise with foreign investment of a production nature scheduled to operate for a period of not less than ten years was, from the year of making profits, exempt from enterprise income tax in the first and second years and allowed a fifty percent reduction in the third to fifth years. Pursuant to the State Council&#8217;s Regulations on Encouraging Investment in and Development of Hainan Island promulgated in May 1988, the corporate income tax for all companies incorporated in Hainan Province was reduced to 15%. Pursuant to the Regulations on Foreign Investment in Hainan Special Economic Zone promulgated by Hainan Province in March 1991 (the &#8220;Regulation on Foreign Investment&#8221;), all foreign-invested enterprises incorporated in Hainan Province are exempt from the local income tax.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">However, on March 16, 2007, China&#8217;s national congress approved the Enterprise Income Tax Law of the PRC (&#8220;New Income Tax Law&#8221;), which took effect on January 1, 2008. The New Income Tax Law unified the enterprise income tax rate, cost deduction and tax incentive policies for both domestic and foreign invested enterprises. Under the New Income Tax Law, enterprises that were established and already enjoyed preferential tax rates or tax holidays before March 16, 2007 will (i) in the case of preferential tax rates, gradually increase to a 25% rate over a period of five years, (ii) in the case of tax holidays, continue to receive the benefit of such holidays until the expiration of such term.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">As a result, we enjoyed a preferential tax rate of 9%, 10% and 11% in the years of 2008, 2009 and 2010. We obtained the High Tech Enterprise status from the government in 2010 and we enjoy a 15% income tax rate for a three-year period from 2011 to 2013. We applied for continued High Tech Enterprise status in 2013, with its associated favorable tax rate, and we received an extension of the 15% income tax rate for a second three-year period from 2014 to 2016. The discontinuation of any of our existing special or preferential tax treatment or other incentives could have an adverse affect on our business, financial condition and results of operations.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">We cannot guarantee the protection of our intellectual property rights, and if infringement or counterfeiting of our intellectual property rights occurs, then our reputation and business may be adversely affected.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Litigation may be necessary in the future to enforce our intellectual property rights or to determine the validity and scope of the intellectual property rights of others. However, because the validity, enforceability and scope of protection of intellectual property rights in the PRC are uncertain and still evolving, we may not be successful in prosecuting these cases. In addition, any litigation or proceeding or other efforts to protect our intellectual property rights could result in substantial costs and diversion of our resources and could seriously harm our business and operating results. Furthermore, the degree of future protection of our proprietary rights is uncertain and may not adequately protect our rights or permit us to gain or keep our competitive advantage. If we are unable to protect our trade names, trade secrets and other propriety information from infringement, our business, financial condition and results of operations may be materially and adversely affected.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Risks Related to Doing Business in China</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Adverse changes in political and economic policies of the PRC government could have a material and adverse effect on the overall economic growth of China, which could reduce the demand for our services and materially and adversely affect our competitive position.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We conduct substantially all of our business and have historically derived all of our revenues in China. Accordingly, our business, financial condition, results of operations and prospects are affected significantly by economic, political and legal developments in China. The Chinese economy differs from the economies of most developed countries in many respects, including:</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">the degree of government involvement;</font></div>
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<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#183;</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">the level of development;</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">the growth rate;</font></div>
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<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#183;</font></div>
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<td valign="top" width="78%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">the control of foreign exchange;</font></div>
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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
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<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#183;</font></div>
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<td valign="top" width="78%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">access to financing; and</font></div>
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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
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<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#183;</font></div>
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<td valign="top" width="78%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">the allocation of resources.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">While the Chinese economy has experienced significant growth in the past 30 years, growth has been uneven, both geographically and among various sectors of the economy. The Chinese economy has also experienced certain adverse effects due to the recent global financial crisis. The Chinese government has implemented various measures to encourage economic growth and guide the allocation of resources. Some of these measures benefit the overall Chinese economy, but may also have a negative effect on us. For example, our operating results and financial condition may be adversely affected by government control over capital investments or changes in tax regulations that are applicable to us, and by government policies or guidance aimed at curtailing the perceived over-capacity of certain industry sectors, such as pharmaceutical companies. The Chinese government has implemented certain measures, including interest rate increases, to control the pace of economic growth. These measures may cause decreased economic activity in China, which could in turn reduce the demand for our products and materially and adversely affect our operating results and financial condition.</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The Chinese economy has been transitioning from a planned economy to a more market-oriented economy. Although in recent years the Chinese government has implemented measures emphasizing the utilization of market forces for economic reform, the reduction of state ownership of productive assets and the establishment of sound corporate governance in business enterprises, a substantial portion of the productive assets in China is still owned by the Chinese government. The continued control of these assets and other aspects of the national economy by the Chinese government could materially and adversely affect our business.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The Chinese government also exercises significant control over Chinese economic growth through the allocation of resources, controlling payment of foreign currency-denominated obligations, setting monetary policy and providing preferential treatment to particular industries or companies.</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

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<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>
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<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">33</font></div>

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<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>
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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Any adverse change in the economic conditions or government policies in China could have a material and adverse effect on overall economic growth and the level of investments in health industries in China, which in turn could lead to a reduction in demand for our products and consequently have a material and adverse effect on our business.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">The PRC legal system has inherent uncertainties that could limit the legal protections available to us.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The PRC legal system is a civil law system based on written statutes. Unlike common law systems, it is a system in which decided legal cases have little precedential value. In the late 1970s, the PRC government began to promulgate a comprehensive system of laws and regulations governing commercial matters. The overall effect of legislation enacted over the past 20 years has significantly enhanced the protections afforded to foreign-invested enterprises in China. However, these laws, regulations and legal requirements are relatively recent and are evolving rapidly, and their interpretation and enforcement involve uncertainties. These uncertainties could limit the legal protections available to foreign investors.</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The practical effect of the PRC legal system on our business operations in China can be viewed from two separate but intertwined considerations. First, as a matter of substantive law, the Foreign Invested Enterprise laws provide significant protection from government interference. In addition, these laws guarantee the full benefit of corporate articles and contracts to Foreign Invested Enterprise participants. These laws, however, do impose standards concerning corporate formation and governance that are not qualitatively different from the corporation laws found in the United States. Similarly, PRC accounting laws mandate accounting practices that may not be consistent with the U.S. generally accepted accounting principles. PRC accounting laws require that an annual &#8220;statutory audit&#8221; be performed in accordance with PRC accounting standards and that the account books of a foreign invested enterprise be maintained in accordance with PRC accounting laws. Article 14 of the PRC Wholly Foreign-Owned Enterprise Law requires a wholly foreign-owned enterprise to submit certain periodic fiscal reports and statements to designated financial and tax authorities. If a foreign-invested enterprise refuses to keep account books in China, the financial and tax authorities may impose a fine on it, and the industry and commerce administration authority may order it to suspend operations or may revoke its business license.</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Second, while the enforcement of substantive rights may be less clear than United States procedures, foreign invested enterprises and wholly foreign-owned enterprises are PRC registered companies that enjoy the same status as other PRC registered companies in business-to-business dispute resolutions. The PRC legal infrastructure, however, is significantly different in operation from its United States counterpart, and may present a significant impediment to the operation of a foreign invested enterprise.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">PRC economic reform policies or nationalization could result in a total investment loss in our common stock.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Since 1979, the PRC government has reformed its economic policies. Because many reforms are unprecedented or experimental, they are expected to be refined and improved. Other political, economic and social factors, such as political changes, changes in the economic growth rates, unemployment or inflation, or in the disparities in per capita wealth between regions within China, could lead to further readjustment of the reform measures. This refining and readjustment process may negatively affect our operations.</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Although the PRC government owns the majority of productive assets in China, in the past several years the government has implemented economic reform measures that emphasize decentralization and encourage private economic activity. Because these economic reform measures may be inconsistent or ineffectual, there are no assurances that:</font></div>

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<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#183;</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">We will be able to capitalize on economic reforms;</font></div>
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<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#183;</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">The Chinese government will continue its pursuit of economic reform policies;</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">The economic policies, even if pursued, will be successful;</font></div>
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<td align="left" valign="top" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="78%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#183;</font></div>
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<td valign="top" width="78%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Economic policies will not be significantly altered from time to time; or</font></div>
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<div>&#160;</div>

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<div id="HDR">
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<div>&#160;</div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
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<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#183;</font></div>
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<td valign="top" width="78%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Business operations in China will not become subject to the risk of nationalization.</font></div>
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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Over the last few years, China&#8217;s economy has registered high growth rates. Recently, there have been indications that rates of inflation have increased. In response, the Chinese government recently has taken measures to curb this excessively expansive economy. These measures have included restrictions on the availability of domestic credit, reducing the purchasing capability of some of its customers, and limited recentralization of the approval process for purchases of certain foreign products. These austere measures alone may not succeed in slowing down the economy&#8217;s excessive expansion or control inflation, and may result in severe dislocations in the Chinese economy. The PRC government may adopt additional measures to further combat inflation, including the establishment of freezes or restraints on certain projects or markets. These measures may adversely affect our operations.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">There can be no assurance that the reforms to China&#8217;s economic system will continue or that we will not be adversely affected by changes in China&#8217;s political, economic, and social conditions and by changes in policies of the PRC government, such as changes in laws and regulations, measures which may be introduced to control inflation, changes in the rate or method of taxation, imposition of additional restrictions on currency conversion and remittance abroad, and reduction in tariff protection and other import restrictions.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">You may experience difficulties in effecting service of legal process, enforcing foreign judgments or bringing original actions in the PRC against our company or our management based on U.S. or other foreign laws.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Our operating subsidiary, Helpson, is incorporated under the laws of the PRC and substantially all of our assets are located in the PRC. In addition, substantially all of our directors, executive officers and managers reside within the PRC, and substantially all of the assets of these persons are located within the PRC. As a result, it may not be possible to effect service of process within the United States or elsewhere outside the PRC upon certain of our directors, executive officers or managers, including with respect to matters arising under U.S. federal securities laws or applicable state securities laws. Moreover, the PRC does not have treaties providing for the reciprocal recognition and enforcement of judgments of courts with the United States, the United Kingdom, Japan or many other countries. As a result, recognition and enforcement in the PRC of judgments of a court in the United States and any of the other jurisdictions mentioned above in relation to any matter may be difficult or impossible. Furthermore, an original action may be brought in the PRC against us, our directors, executive officers or managers only if the actions are not required to be arbitrated by PRC law and Helpson&#8217;s articles of association, and only if the facts alleged in the complaint give rise to a cause of action under PRC law. In connection with any such original action, a PRC court may impose civil liability, including monetary damages.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Because we receive substantially all of our revenue in Renminbi, which currently is not a freely convertible currency, and the PRC government controls the currency conversion and the fluctuation of the Remninbi, we are subject to changes in the PRC&#8217;s political and economic decisions.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We receive substantially all of our revenues in Renminbi, which currently is not a freely-convertible currency. The PRC government may, at its discretion, restrict access in the future to foreign currencies for current account transactions. Any future restrictions on currency exchanges may limit our ability to use revenue generated in Renminbi to fund any future business activities outside China or to make dividend or other payments in U.S. dollars. Although the Chinese government introduced regulations in 1996 to allow greater convertibility of the Renminbi for current account transactions, significant restrictions still remain, including primarily the restriction that foreign-invested enterprises may only buy, sell or remit foreign currencies, after providing valid commercial documents, at those banks authorized to conduct foreign exchange business. In addition, conversion of Renminbi for capital account items, including direct investment and loans, is subject to governmental approval in China, and companies are required to open and maintain separate foreign exchange accounts for capital account items.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">We cannot be certain that the Chinese regulatory authorities will not impose more stringent restrictions on the convertibility of the Renminbi, especially with respect to foreign exchange transactions.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Fluctuation in the value of the Renminbi may have a material and adverse effect on your investment. The change in value of the Renminbi against the U.S. dollar is affected by, among other things, changes in PRC&#8217;s political and economic conditions. From 1995 until July 2005, the People&#8217;s Bank of China intervened in the foreign exchange market to maintain an exchange rate of approximately Renminbi8.3 per U.S. dollar. On July 21, 2005, the PRC government changed this policy and began allowing modest appreciation of the Renminbi versus the U.S. dollar. Under the new policy, the Renminbi was permitted to fluctuate within a narrow and managed band against a basket of certain foreign currencies. This change in policy caused the Renminbi to appreciate approximately 21.5% against the U.S. dollar over the following three years. As a consequence, the Renminbi has fluctuated sharply since July 2008 against other freely traded currencies, in tandem with the U.S. dollar. It is difficult to predict how long the current situation may last and when and how it may change again. There remains significant international pressure on the PRC government to adopt a substantial liberalization of its currency policy, which could result in a further and more significant appreciation in the value of the Renminbi against the U.S. dollar. Significant revaluation of the Renminbi may have a material and adverse effect on your investment. For example, to the extent that we need to convert U.S. dollars we receive from securities offering into Renminbi for our operations, appreciation of the Renminbi against the U.S. dollar would have an adverse effect on the Renminbi amount we would receive from the conversion. Conversely, if we decide to convert our Renminbi into U.S. dollars for the purpose of making payments for dividends on our common stock or for other business purposes, appreciation of the U.S. dollar against the Renminbi would have a negative effect on the U.S. dollar amount available to us.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In addition, appreciation or depreciation in the value of the Renminbi relative to the U.S. dollar would affect our financial results reported in U.S. dollar terms without giving effect to any underlying change in our business or results of operations. The income statements of our operations are translated into U.S. dollars at the average exchange rates in each applicable period. To the extent the U.S. dollar strengthens against foreign currencies, the translation of these foreign currencies denominated transactions results in reduced revenue, operating expenses and net income for our international operations. Similarly, to the extent the U.S. dollar weakens against foreign currencies, the translation of these foreign currency denominated transactions results in increased revenue, operating expenses and net income for our international operations. We are also exposed to foreign exchange rate fluctuations as we convert the financial statements of our foreign subsidiaries into U.S. dollars in consolidation. If there is a change in foreign currency exchange rates, the conversion of the foreign subsidiaries&#8217; financial statements into U.S. dollars will lead to a translation gain or loss, which is recorded as a component of other comprehensive income. Very limited hedging transactions are available in China to reduce our exposure to exchange rate fluctuations. To date, we have not entered into any hedging transactions. While we may enter into hedging transactions in the future, the availability and effectiveness of these transactions may be limited, and we may not be able to successfully hedge our exposure at all.&#160;</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Our manufacturing process may produce by-products, such as effluent, gases and noise, that are harmful to the environment. We are subject to multiple laws governing environmental protection, such as &#8220;The Law on Environmental Protection in the PRC&#8221; and &#8220;The Law on Prevention of Effluent Pollution in the PRC,&#8221; as well as standards set by the relevant governmental bodies determining the classification of different wastes and proper disposal. We have properly attained a waste disposal permit for our manufacturing facility, which details the types and concentration of effluents and gases allowed for disposal. We are responsible for the renewal of the waste disposal permit. There is no assurance that we will obtain the renewal of the waste disposal permit when the current permit expires.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">China is experiencing substantial problems with environmental pollution. Accordingly, it is likely that the national, provincial and local governmental agencies will adopt stricter pollution controls. There can be no assurance that future changes in environmental laws and regulations will not impose costly compliance requirements on us or otherwise subject us to future liabilities. Our business&#8217;s profitability may be adversely affected if additional or modified environmental control regulations are imposed upon us.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Failure to comply with PRC regulations regarding the registration requirements for employee equity incentive plans may subject our PRC citizen employees or us to fines and other legal or administrative sanctions.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">On March 28, 2007, the SAFE promulgated the Application Procedure of Foreign Exchange Administration for Domestic Individuals Participating in Employee Stock Holding Plan or Share Option Plan of Overseas-Listed Company, which were superseded by Notice from SAFE regarding Issues related to Domestic Individual Participating Offshore Public Company Equity Incentive Plan promulgated on February 15, 2012 (&#8220;SAFE #7&#8221;) or the Share Option Rule. Under the Share Option Rule, PRC citizens who are granted share options or other employee equity incentive awards by an overseas publicly-listed company are required, through a PRC agent who may be a PRC subsidiary of such overseas publicly-listed company, to register with the SAFE and complete certain other procedures related to the share options or other employee equity incentive plans. We and our PRC citizen employees who are granted share options or other equity incentive awards under our 2010 Long-Term Incentive Plan, or PRC optionees, are subject to the Share Option Rule. If we or our PRC optionees fail to comply with these regulations, we or our PRC optionees may be subject to fines and legal sanctions.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">China adopted the PRC Employment Contract Law, or the new Labor Contract Law, effective January 1, 2008 and the implementation rules effective September 18, 2008. The new Labor Contract Law and its implementation rules impose more stringent obligations on employers for, among others, entering into written employment contracts, hiring temporary employees, dismissing employees, setting compensations for dismissal and protecting certain sick or disabled employees from dismissal and setting forth detailed requirements relating to the contents of the employment contracts. The implementation of the new Labor Contract Law may increase our operating expenses, in particular our personnel expenses, as the continued success of our business depends significantly on our ability to attract and retain qualified personnel. In the event that we decide to terminate some of our employees or otherwise change our employment or labor practices, the new Labor Contract Law may also limit our ability to effect those changes in a manner that we believe to be cost-effective or desirable, which could adversely affect our business and results of operations.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">PRC regulation of loans and direct investment by offshore holding companies to PRC entities may delay or prevent us from using the proceeds we receive from a securities offering to make loans or additional capital contributions to our PRC operating subsidiary.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In utilizing the proceeds we receive from a securities offering, as an offshore holding company with a PRC subsidiary, we may make loans to our PRC subsidiary, or we may make additional capital contributions to our PRC subsidiary. Any loans to our PRC subsidiary are subject to PRC regulations and approvals. For example, loans to our PRC subsidiary Helpson, which is a foreign-invested enterprise, to finance its activities cannot exceed statutory limits and must be registered with the State Administration of Foreign Exchange in China, or SAFE, or its local counterpart. Loans by us to domestic PRC enterprises must be approved by the relevant government authorities and must also be registered with the SAFE or its local counterpart. Any capital contributions to our PRC subsidiary must be approved by the Ministry of Commerce in China or its local counterpart. On August 29, 2008, SAFE promulgated Circular 142, a notice regulating the conversion by a foreign-invested company of foreign currency into Renminbi by restricting how the converted Renminbi may be used. The notice requires that Renminbi converted from the foreign currency denominated capital of a foreign-invested company may only be used for purposes within the business scope approved by the applicable governmental authority and may not be used for equity investments within the PRC unless specifically provided for otherwise.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In addition, SAFE strengthened its oversight over the flow and use of Renminbi funds converted from the foreign currency-denominated capital of a foreign-invested company. The use of such Renminbi may not be changed without approval from SAFE, and may not be used to repay Renminbi loans if the proceeds of such loans have not yet been used. Violations of Circular 142 may result in severe penalties, including substantial fines as set forth in the Foreign Exchange Administration Rules. We cannot assure you that we will be able to obtain these government registrations or approvals on a timely basis, if at all, with respect to our future loans or capital contributions to our direct or indirect subsidiaries. If we fail to receive such registrations or approvals, our ability to use the proceeds from a securities offering and to capitalize our PRC operations may be negatively affected, which could materially and adversely affect our liquidity and ability to fund and expand our business.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">The 2006 M&amp;A Rule establishes more complex procedures for some acquisitions of Chinese companies by foreign investors, which could make it more difficult for us to pursue growth through acquisitions in China.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">On August 8, 2006, six PRC regulatory agencies, namely, the Ministry of Commerce, the State Assets Supervision and Administration Commission, or SASAC, the State Administration for Taxation, the State Administration for Industry and Commerce, the CSRC and SAFE, jointly adopted the Regulations on Mergers and Acquisitions of Domestic Enterprises by Foreign Investors, or the 2006 M&amp;A Rule, which became effective on September 8, 2006. The 2006 M&amp;A Rule establishes additional procedures and requirements that could make some acquisitions of PRC companies by foreign entities, such as our company, more time-consuming and complex, including requirements in some instances that the approval of the Ministry of Commerce shall be required for transactions involving the shares of an offshore listed company being used as the acquisition consideration by foreign entities, including Sino-foreign joint ventures. In the future, we may grow our business in part by acquiring complementary businesses. Complying with the requirements of the 2006 M&amp;A Rule to complete such transactions could be time-consuming, and any required approval processes, including obtaining approval from the Ministry of Commerce, may delay or inhibit our ability to complete such transactions, which could affect our ability to expand our business or maintain our market share.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We are a Nevada holding company with substantially all of our operations conducted through our operating subsidiary in China. Under the new PRC Enterprise Income Tax Law, or the new EIT Law, and its implementation rules, both of which became effective on January 1, 2008, China-sourced income of foreign enterprises, such as dividends paid by a PRC subsidiary to its overseas parent, is generally subject to a 10% withholding tax. The new EIT Law, however, also provides that enterprises established outside China whose &#8220;de facto management bodies&#8221; are located in China are considered &#8220;tax resident enterprises&#8221; and will generally be subject to the uniform 25% enterprise income tax rate as to their global income. Under the implementation rules, &#8220;de facto management bodies&#8221; are defined as the bodies that have, in substance, overall management control over such aspects as the production and business, personnel, accounts and properties of an enterprise. In April 2009, the PRC tax authority promulgated the Notice on Determination of Tax Resident Enterprises of Chinese-controlled Offshore Incorporated Enterprises in accordance with Their De Facto Management Bodies, or Circular 82, to clarify the criteria for determining whether the &#8220;de facto management bodies&#8221; are located within the PRC for enterprises incorporated overseas with controlling shareholders being PRC enterprises. As all of the our operational management is currently based in the PRC, and we expect them to continue to be located in China, our company may be deemed a PRC resident enterprise and therefore subject to the PRC enterprise income tax at a rate of 25% on our worldwide income, which excludes the dividends received directly from another PRC resident enterprise. Due to the lack of clear guidance on the criteria pursuant to which the PRC tax authorities will determine our tax residency under the new EIT Law, it remains unclear whether the PRC tax authorities will treat us as a PRC resident enterprise. Therefore, we are unable to confirm whether we are subject to the tax applicable to resident enterprises or non-resident enterprises under the new EIT Law. Furthermore, in connection with the new EIT Law and Tax Implementation Regulations, the Ministry of Finance and State Administration of Taxation jointly issued, on April 30, 2009, the Notice on Issues Concerning Process of Enterprise Income Tax in Enterprise Restructuring Business, or Circular 59, which became effective retrospectively on January 1, 2008. It is uncertain to us as to how it will be implemented and the respective tax base and the tax exposure cannot be determined reliably at this stage. In case we are required to pay the income tax on capital gains by the relevant PRC tax authorities, our financial conditions and results of operations could be adversely affected.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Dividends payable by us to our foreign investors and gain on the sale of our shares may become subject to taxes under PRC tax laws.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Under the new EIT law and its implementation rules, to the extent that we are considered a &#8220;resident enterprise&#8221; which is &#8220;domiciled&#8221; in China, PRC income tax at the rate of 10% is applicable to dividends payable by us to investors that are &#8220;non-resident enterprises&#8221; so long as such &#8220;non-resident enterprise&#8221; investors do not have an establishment or place of business in China or, despite the existence of such establishment or place of business in China, the relevant income is not effectively connected with such establishment or place of business in China. Similarly, any gain realized on the transfer of our shares by such investors is also subject to a 10% PRC income tax if such gain is regarded as income derived from sources within China and we are considered a &#8220;resident enterprise&#8221; which is domiciled in China for tax purposes. Additionally, there is a possibility that the relevant PRC tax authorities may take the view that our purpose is that of a holding company, and the capital gain derived by our overseas stockholders would be deemed China-sourced income, in which case such capital gain may be subject to PRC withholding tax at the rate of up to 10%. If we are required under the new EIT law to withhold PRC income tax on our dividends payable to our foreign stockholders who are &#8220;non-resident enterprises&#8221;, or if you are required to pay PRC income tax on the transfer of our shares under the circumstances mentioned above, the value of your investment in our shares may be materially and adversely affected. It is unclear whether, if we are considered a PRC &#8220;resident enterprise,&#8221; holders of our shares would be able to claim the benefit of income tax treaties or agreements entered into between China and other countries or areas.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In connection with the new EIT Law, the Ministry of Finance and State Administration of Taxation jointly issued, on April 30, 2009, the Notice on Issues Concerning Process of Enterprise Income Tax in Enterprise Restructuring Business, or Circular 59. On December 10, 2009, the State Administration of Taxation issued the Notice on Strengthening the Management on Enterprise Income Tax for Non-resident Enterprises Equity Transfer, or Circular 698. Both Circular 59 and Circular 698 became effective retrospectively on January 1, 2008. By promulgating and implementing these circulars, the PRC tax authorities have strengthened their scrutiny over the direct or indirect transfer of equity interest in a PRC resident enterprise by a non-resident enterprise. For example, Circular 698 specifies that the PRC State Administration of Taxation is entitled to redefine the nature of an equity transfer where offshore vehicles are interposed by abusing corporate structures for tax-avoidance purposes and without reasonable commercial intention. We may pursue acquisitions as one of our growth strategies, and may conduct acquisitions involving complex corporate structures. We cannot be assured that the PRC tax authorities will not, at their discretion, adjust the capital gains thus causing us to incur additional acquisition costs.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">The market price for our common stock may be volatile which could results in a complete loss of your investment.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In addition, the securities markets have from time to time experienced significant price and volume fluctuations that are not related to the operating performance of particular companies. These market fluctuations may also materially and adversely affect the market price of our common stock.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">We may issue additional shares of our capital stock to raise additional cash for working capital; if we issue additional shares of our capital stock, our stockholders will experience dilution in their respective percentage ownership in the company.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We may issue additional shares of our capital stock to raise additional cash for working capital. There is no anti-dilution protection or preemptive rights in connection with our common stock. Thus, the percentage ownership of existing holders of common stock may be diluted in their respective percentage ownership in us if we issue additional shares of our capital stock.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">A large portion of our common stock is controlled by a small number of stockholders and as a result, these stockholders are able to influence and ultimately control the outcome of stockholder votes on various matters.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">A large portion of our common stock is held by a small number of stockholders. For instance, Heung Mei Tsui, a member of our Board of Directors, holds 21.4% and Zhilin Li, our Chief Executive Officer, holds 23.1% of our common stock, respectively, as of the date hereof. As a result, these two stockholders are able to significantly influence the outcome of stockholder votes on various matters, including the election of directors and other corporate transactions including business combinations. In addition, the occurrence of sales of a large number of shares of our common stock, or the perception that these sales could occur, may affect our stock price and could impair our ability to obtain capital through an offering of equity securities. Furthermore, the current ratios of ownership of our common stock reduce the public float and liquidity of our common stock which can in turn affect the market price of our common stock.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">We are likely to remain subject to &#8220;penny stock&#8221; regulations and as a consequence there are additional sales practice requirements and additional warnings issued by the SEC.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">If at any time we have net tangible assets of $5,000,000 or less and the trading price of our common stock is below $5.00 per share, the open-market trading of our common stock will be subject to the &#8220;penny stock&#8221; rules of the SEC. The &#8220;penny stock&#8221; rules impose additional sales practice requirements on broker-dealers who sell securities to persons other than established customers and accredited investors (generally those with assets in excess of $1,000,000 or annual income exceeding $200,000 or $300,000 together with their spouse). For transactions covered by these rules, the broker-dealer must make a special suitability determination for the purchase of securities and have received the purchaser&#8217;s written consent to the transaction before the purchase. Additionally, for any transaction involving a penny stock, unless exempt, the broker-dealer must deliver, before the transaction, a disclosure schedule prescribed by the SEC relating to the penny stock market. The broker-dealer also must disclose the commissions payable to both the broker-dealer and the registered representative and current quotations for the securities. Finally, monthly statements must be sent disclosing recent price information on the limited market in penny stocks. These additional burdens imposed on broker-dealers may restrict the ability of broker-dealers to sell the common stock and may affect a stockholder&#8217;s ability to resell the common stock.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">There can be no assurance that our common stock will qualify for exemption from the &#8220;penny stock&#8221; rules. In any event, even if our common stock is exempt from such rules, we would remain subject to Section 15(b)(6) of the Exchange Act, which gives the SEC the authority to restrict any person from participating in a distribution of a &#8220;penny stock&#8221; if the SEC finds that such a restriction would be in the public interest.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Stockholders should be aware that, according to SEC Release No. 34-29093, the market for penny stocks has suffered in recent years from patterns of fraud and abuse. Such patterns include (i) control of the market for the security by one or a few broker-dealers that are often related to the promoter or issuer; (ii) manipulation of prices through prearranged matching of purchases and sales and false and misleading press releases; (iii) boiler room practices involving high-pressure sales tactics and unrealistic price projections by inexperienced sales persons; (iv) excessive and undisclosed bid-ask differential and markups by selling broker-dealers; and (v) the wholesale dumping of the same securities by promoters and broker-dealers after prices have been manipulated to a desired level, along with the resulting inevitable collapse of those prices and with consequent investor losses. Our management is aware of the abuses that have occurred historically in the penny stock market.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Our bylaws provide for the indemnification of our directors, officers, employees, and agents, under certain circumstances, against attorney&#8217;s fees and other expenses incurred by them in any litigation to which they become a party arising from their association with or activities on behalf of us. This indemnification policy could result in substantial expenditures, which we may be unable to recoup.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">We have identified material weaknesses in our internal control over financial reporting, which could affect our ability to ensure timely and reliable financial reports, affect the ability of our auditors to attest to the effectiveness of our internal controls should we become an accelerated filer in the future, and weaken investor confidence in our financial reporting.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">As directed by Section 404 of the Sarbanes-Oxley Act of 2002, the SEC adopted rules requiring public companies in their annual reports to include a report of management on the reporting company's disclosure controls and procedures and internal controls over financial reporting. We became subject to this requirement commencing with our fiscal year ended December 31, 2007 and a report of our management is included under Item 9A. &#8220;Controls and Procedures&#8221; of this Annual Report on Form 10-K. As set forth in such report, our management has concluded that our internal controls over financial reporting were not effective as of December 31, 2014 and there existed material weakness in our internal control over financial reporting as of December 31, 2014.&#160;</font></div>

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<div style="TEXT-INDENT: 27pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Although the material weakness identified in Item 9A of this Annual Report was the result of our failure to appropriately classify inventory obsolescence and property and equipment we believe we are taking appropriate actions to remediate such material weakness, such measures may not be sufficient to address the material weaknesses identified or ensure that our controls and procedures are effective. We may also discover other material weaknesses in the future. Any failure to maintain or implement required new or improved controls, or any difficulties we encounter in the implementation of such controls, could cause us to fail to meet our periodic reporting obligations or result in material misstatements in our financial statements and affect the ability of our auditors to attest to the effectiveness of our internal control over financing reporting to the extent we become an accelerated filer in the future. In addition, substantial costs and resources may be required to rectify any internal control deficiencies. If we cannot produce reliable financial reports, investors could lose confidence in our reported financial information, the market price of our common stock could decline significantly, and our business and financial condition could be adversely affected.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Historically, the SEC has taken the position that Rule 144 under the Securities Act, as amended, is not available for the resale of securities initially issued by companies that are, or previously were, blank check companies like us, to their promoters or affiliates despite technical compliance with the requirements of Rule 144. The SEC has codified and expanded this position in its amendments effective on February 15, 2008 and applies it to securities acquired both before and after that date by prohibiting the use of Rule 144 for resale of securities issued by shell companies (other than business transaction related shell companies) or issuers that have been at any time previously a shell company. The SEC has provided an important exception to this prohibition, however, if the following conditions are met: the issuer of the securities that was formerly a shell company has ceased to be a shell company; the issuer of the securities is subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act; the issuer of the securities has filed all Exchange Act reports and material required to be filed, as applicable, during the preceding 12 months (or such shorter period that the issuer was required to file such reports and materials), other than Form 8-K reports; and at least one year has elapsed from the time that the issuer filed current Form 10 type information with the SEC reflecting its status as an entity that is not a shell company. As such, due to the fact that we had been a shell company prior to October 2005, holders of "restricted securities" within the meaning of Rule 144, when reselling their shares pursuant to Rule 144, shall be subject to the conditions set forth herein.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">ITEM 2. PROPERTIES.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">There is no private ownership of land in China. All land is owned by the government of the PRC on behalf of all Chinese citizens or collectively owned by farmers. Land use rights can be allocated by the PRC State Land Administration Bureau or its authorized branches. Helpson was granted land use rights from the PRC government for approximately 22,936 square meters of land located on Plot C09-2 at Haikou Bonded Zone, Hainan Province, PRC in 2003. The land use rights will expire on September 10, 2063.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Helpson owns two production facilities in Haikou, Hainan Province, PRC, one of which has a construction area of 663.94 square meters located at the 6th floor of Standard Plant Building B, Jinpan Industrial Development Zone, and another factory, which is located on Plot C09-2 at Haikou Bonded Zone, has a production area of 26,593.20 square meters.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In addition, Helpson rented the offices located at the second floor of Jiahai Building owned by Hainan Zhongfu Going-abroad Personnel Service Center (the &#8220;Center&#8221;) as its principal executive offices. The monthly rent was RMB 5,580 (approximately $843). The term of the lease was 3 years, from December 1, 2010 to November 30, 2013. On December 31, 2011, the lease was superseded by the new lease Helpson entered into with the Center. The new lease is for a term of nine years for the office spaces on the second floor and the entire third floor at a monthly rent of RMB 20,000 (approximately $2,941) with a 5% increment every two years from the fourth year until the end of the term. The aggregate spaces Helpson rented are 1,686 square meters, which is 16,812 square feet.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We believe that all our properties have been adequately maintained, are generally in good condition, and are suitable and adequate for our business. However, we are contemplating our need for expansion and additional space as the production increases.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Helpson entered into a line of credit with Bank of China in October 2013, and renewed it in November 2014.&#160;&#160;In order to secure the loan, Helpson mortgaged its land use rights and buildings. To provide an additional security, our Chief Executive Officer and Chairman of our Board of Directors personally guaranteed the new line of credit.</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">RMB 30 million</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Helpson&#8217;s land : 22,936 square meters (Certificate #: Guo Yong [2003] No. 005572)</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Helpson&#8217;s buildings: 663.94 square meters (Certificate #: HK008109)</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">ITEM 3. LEGAL PROCEEDINGS.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">From time to time, we may become involved in various lawsuits and legal proceedings which arise in the ordinary course of business. Litigation is subject to inherent uncertainties, and an adverse result in these or other matters may arise from time to time that may harm our business. However, we are currently not aware of any such legal proceedings or claims that we believe will have, individually or in the aggregate, a material adverse effect on our business, financial condition or operating results.</font></font></div>

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</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Our shares began trading on the NYSE MKT (Formerly known as NYSE Amex) on September 30, 2009 under the symbol &#8220;CPHI&#8221;. Prior to September 30, 2009, our shares traded on the OTC Bulletin Board under the symbol &#8220;CPHI.OB.&#8221;</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><br>
</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The following table, based upon Yahoo Finance, contains information about the range of high and low sales prices for our common stock for each full quarterly period during the fiscal years ending December 31, 2014 and 2013.</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><br>
</font></div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td align="left" valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td colspan="2" valign="bottom">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">High</font></div>
</td>
<td align="left" valign="top"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td colspan="2" valign="bottom">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Low</font></div>
</td>
<td align="left" valign="top"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td align="left" valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="2" valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="left" valign="top"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="2" valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="left" valign="top"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Fiscal 2014</font></div>
</td>
<td align="left" valign="top"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="2" valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="left" valign="top"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="2" valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="left" valign="top"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td align="left" valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="9%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="9%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="azure">
<td valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">First Quarter</font></div>
</td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></div>
</td>
<td valign="top" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0.84</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$&#160; </font></td>
<td valign="top" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0.34</font></div>
</td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Second Quarter</font></div>
</td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0.52</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0.32</font></div>
</td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="azure">
<td valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Third Quarter</font></div>
</td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0.39</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0.22</font></div>
</td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Fourth Quarter</font></div>
</td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0.53</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0.21</font></div>
</td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>

<div>&#160;</div>

<div>&#160;</div>

<div id="PGBRK" style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">43</font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>
</div>
</div>

<div>&#160;</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr bgcolor="white">
<td valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Fiscal 2013</font></div>
</td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="9%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="9%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="9%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="9%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="azure">
<td valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">First Quarter</font></div>
</td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></div>
</td>
<td valign="top" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0.37</font></div>
</td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></div>
</td>
<td valign="top" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0.21</font></div>
</td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Second Quarter</font></div>
</td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0.29</font></div>
</td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0.19</font></div>
</td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="azure">
<td valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Third Quarter</font></div>
</td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0.38</font></div>
</td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0.19</font></div>
</td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Fourth Quarter</font></div>
</td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0.47</font></div>
</td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0.26</font></div>
</td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Holders</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><br>
</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">As of March 19, 2015, there were approximately 137 shareholders of record of our common stock and an indeterminate number of beneficial holders who held our common stock in street name.</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><br>
</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Transfer Agent and Registrar</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The transfer agent and registrar for our common stock is Securities Transfer Corporation, 2591 Dallas Parkway, Suite 102, Frisco, Texas 75034. Their telephone number is (469) 633-0101.</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><br>
</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0.6pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Dividend Policy</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><br>
</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0.6pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We have never paid or declared any dividend on our common stock and we do not anticipate paying cash dividends in the foreseeable future. As a result of our holding company structure, we would rely entirely on dividend payments from our subsidiaries, Onny Investment Ltd. and Hainan Helpson Medial &amp; Biotechnology Co., Ltd., for our cash flow to pay dividends on our common stock. The PRC government imposes controls on the conversion of Renminbi into foreign currencies and the remittance of currencies out of the PRC, which also may affect our ability to pay cash dividends in the future.</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><br>
</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Securities Authorized for Issuance Under Equity Compensation Plans</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><br>
</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td colspan="4" valign="bottom" width="78%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Equity Compensation Plan Information</font></div>
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<td valign="bottom" width="23%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Plan category</font></div>
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<td valign="bottom" width="17%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Number of </font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">securities to be </font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">issued upon </font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">exercise of </font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">outstanding </font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">options, warrants </font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">and rights</font></div>
</td>
<td valign="bottom" width="16%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Weighted-average </font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">exercise price of </font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">outstanding </font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">options, warrants </font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">and rights</font></div>
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<td valign="bottom" width="22%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Number of securities </font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">remaining available for </font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">future issuance under </font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">equity compensation </font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">plans (excluding </font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">securities reflected </font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">in column (a))</font></div>
</td>
</tr><tr>
<td valign="bottom" width="23%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="17%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(a)</font></div>
</td>
<td valign="bottom" width="16%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(b)</font></div>
</td>
<td valign="bottom" width="22%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(c)</font></div>
</td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="23%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Equity compensation plans not approved by security holders</font></div>
</td>
<td valign="bottom" width="17%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>
</td>
<td valign="bottom" width="16%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>
</td>
<td valign="bottom" width="22%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="23%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Equity compensation plans approved by security holders</font></div>
</td>
<td valign="bottom" width="17%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>
</td>
<td valign="bottom" width="16%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>
</td>
<td valign="bottom" width="22%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">3,825,000</font></div>
</td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="23%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Totals</font></div>
</td>
<td valign="bottom" width="17%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>
</td>
<td valign="bottom" width="16%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>
</td>
<td valign="bottom" width="22%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">3,825,000</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><br>
</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">ITEM 6. SELECTED FINANCIAL DATA</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">As a "smaller reporting company" as defined in Item 10 of Regulation S-K, we are not required to provide the information required by this item.</font></font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></div>
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<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>
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<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">44</font></div>

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<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">ITEM 7.&#160;&#160;&#160;&#160;&#160;&#160;MANAGEMENT&#8217;S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The statements contained in this report with respect to our financial condition, results of operations and business that are not historical facts are forward-looking statements. Forward-looking statements can be identified by the use of forward-looking terminology, such as "anticipate", "believe", "expect", "plan", "intend", "seek", "estimate", "project", "could", "may" or the negative thereof or other variations thereon, or by discussions of strategy that involve risks and uncertainties. Management wishes to caution the readers of the forward-looking statements that any such statements that are contained in this report reflect our current beliefs with respect to future events and involve known and unknown risks, uncertainties and other factors, including, but not limited to, economic, competitive, regulatory, technological, key employees, and general business factors affecting our operations, markets, growth, services, products, licenses and other factors, some of which are described in this report including in &#8220;Risk Factors&#8221; in Item 1A and some of which are discussed in our other filings with the Securities and Exchange Commission. These forward-looking statements are only estimates or predictions. No assurances can be given regarding the achievement of future results, as actual results may differ materially as a result of risks facing our company, and actual events may differ from the assumptions underlying the statements that have been made regarding anticipated events.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">These risk factors should be considered in connection with any subsequent written or oral forward-looking statements that we or persons acting on our behalf may issue. All written and oral forward looking statements made in connection with this report that are attributable to our company or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. Given these uncertainties, we caution investors not to unduly rely on our forward-looking statements. We do not undertake any obligation to review or confirm analysts&#8217; expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date of this report or to reflect the occurrence of unanticipated events, except as required by applicable law or regulation.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Business Overview &amp; Recent Developments</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We have experienced tough challenges and made remarkable achievements in 2014: we completed the construction of a 20,000 square meters new factory, installed with four (4) sterilization production lines (two liquid injectables and two dry powder injectables production lines) after nearly two years of construction. In November of 2014, we obtained new GMP certificate issued by CFDA, as defined below, and commenced the manufacturing at our dry powder injectables and liquid injectables production lines; while we sustained the loss brought by once-in-forty-year 16 grade super typhoon.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: -0.3pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The China Food and Drug Administration (&#8220;CFDA&#8221;) promulgated <font style="FONT-STYLE: italic; DISPLAY: inline">Good Manufacturing Practices for Pharmaceutical Products</font> (2010 revised version) (the &#8220;New GMP Standards&#8221;) on February 12, 2011, which became effective on March 1, 2011.&#160;The New GMP Standards outlines the basic principles and standards for the manufacturing of pharmaceutical products and the management of quality controls in the manufacturing process in the PRC. Pursuant to those mandatory requirements, the upgrading of our two sterilization production lines were required to be completed by the end of 2013. During the period from January 1, 2014 to November 3, 2014, we had suspended such two production lines as they did not then meet the GMP upgrading deadline. In this production-suspended state, we controlled our market by limiting our credit sales and executed a prudent marketing strategy and specifically by screening our existing and potential distributors and hospital customers based on their payment speed in order to gradually improve our trade turnover, especially in terms of the collection of our accounts receivable. This strategy has temporarily impacted our sales in the current period by limiting our credit sales.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">A once-in-forty-year 16 grade super typhoon Rammasun hit Haikou on July 18, 2014. This typhoon caused considerable damage to our manufacturing facilities and inventory. Part of the warehouse was flooded; our new facility was damaged and the several days long suspension of water and electricity supply caused a brief halt to our production activities and a delay in obtaining the new GMP certificate. We have taken emergency measures to restore and recover post-typhoon and have restored the facility to operational mode at the fastest speed. The Company&#8217;s losses from the natural disaster were approximately $2.3 million (RMB14.2 million).</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The products in our pipeline have experienced delays. The CFDA has enhanced its approval criteria and processes, resulting in additional supplemental materials and trials, higher cost, and longer approval time for certain applications across all the pharmaceutical products including all of our product types. We commenced leading formulation screening, new technology exploration, technical criteria improvement activities in 2013. We expect this new model will improve our exploration channels for the pipeline products.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: -25.6pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The following is a list of the current status of some of our pipeline products:</font></div>

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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Antibiotic Combination - We completed the Phase I clinical trials of our novel cephalosporin-based combination antibiotic. We are currently in Phase II of the clinical trial, due to the higher regulatory requests for clinical works.</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Rosuvastatin - Rosuvastatin is a generic form of Crestor, a drug for the treatment of high blood cholesterol levels. Clinical trials for this generic drug were completed in the fourth quarter of 2010 and we have submitted an application for production approval, and are performing supplemental trials of related materials pursuant to the new criteria.</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Heart Disease Drug - We developed an oral solution for the treatment of coronary heart disease in our new product pipeline. This product comes with a patented Traditional Chinese Medicine (TCM) formula and is currently approaching the end point of Phase III clinical trials.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We have completed the upgrading of our existing tablets and capsules production line in our old facility and received new GMP certificate in January 2015. And we have begun reforming and upgrading our existing dry powder injectables production line, cephalosporin production line, and granules production line in 2015 to meet the New GMP Standards.</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Market Trends</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The year of 2014 was a year of adjustments, challenges and opportunities for the pharmaceutical industry in China. With the demographic dividend (due to the fact that the working-age population accounts for a relatively large proportion of the total population and the dependency ratio is relatively low, the favorable population conditions for economic development with high savings, high investment and high growth is created) gradually receded, the pharmaceutical industry is facing many challenges: external pressures from health care expenditure and drug price controls, internal fierce competition among pharmaceutical companies, and the growth pressure within the pharmaceutical companies. Southern Medicine Economic Institute Data promulgated by CFDA indicates that in 2014 the pharmaceutical industry output growth is expected to be only about 13%, far below over the 20% growth in the past.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">It is noteworthy that in 2014 there were certain state policy changes, such as the intention to release the control over drug prices, the restriction release on Internet drug sales, and the promotion on market-oriented reform of health care, which invigorated the traditional Chinese medicine industry. The logic behind these policies was to allow the market to play a decisive role in the allocation of resources, so as to improve operational efficiency and solve the problem of the inaccessibility of medicine and medical care which was experienced by a lot of people. The development of the pharmaceutical industry seems to fit the characteristics of the new normal Chinese economy: growth enters into the shift period, from high-speed growth to the medium-speed growth and the development of the industry relies on reformation, restructuring and innovation.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Currently, the health insurance fund spending accounts for more than 30% of total health expenditure, which is one of the main forces driving the development of the pharmaceutical industry in recent years. However, faced with huge health care expenses, the health insurance fund shortfall problem needs to be addressed urgently. Medicare cost control has been the focus of the market. From the current situation, it will become a trend. The National Development and Reform Commission issued "Promote Drug Price Reform Program (Draft)" on November 25, 2014, which intends to control medical costs through Medicare spending and bidding, form drug prices by market competition, and abolish the maximum retail price restriction of drugs from January 1, 2015. Some analysts believe that, when this reform program is implemented, the weight of Medicare rights will be enhanced and the bargaining power of medical institutions and other relevant parties will also be improved. Consequently, our whole industry will face even more severe price pressure.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">China&#8217;s pharmaceutical industrial output growth continued to slow down from the second half of 2013. In addition, the industry growth in 2014 experienced significant decline compared to the previous years due to certain medicare cost controls, and the upgrading requirements under the New GMP Standards. The Company believes that this trend will continue. Southern Medicine Economic Institute promulgated by CFDA predicts by 2015 China&#8217;s pharmaceutical industry output growth of 15%, sales growth of 13%, and profit growth of 11%. Concerning the terminal market, China&#8217;s pharmaceutical terminal market is expected to reach RMB 1.2457 trillion in 2014, up 13.4%; 2015 pharmaceutical terminal market will reach RMB 1.407 trillion, an increase of 12.9%.</font></div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Results of Operations for the Fiscal Year Ended December 31, 2014</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">China provides a unique opportunity to its pharmaceutical industry; however, real challenges remain, from temporary production suspension due to certain compulsory new GMP upgrading requirements and rising pricing pressure, to extended regulatory review time for new medical production applications. Each of these challenges impacted our performance negatively in 2014, causing us to experience a significant decrease in our financial results.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Net loss for the year ended December 31, 2014 was $26.0 million, compared to net loss of $20.0 million for the year ended December 31, 2013.Our net loss for the year ended December 31, 2014 was mainly due to a significant decrease in revenue and an increase in bad debt expense.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Revenue</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Revenue decreased by 24% to $24.9 million for the year ended December 31, 2014, as compared to $32.8 million for the year ended December 31, 2013. This decrease primarily resulted from decreases in sales of our CNS Cerebral &amp; Cardio Vascular products and our Anti-Viro/Infectious &amp; Respiratory products.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Twelve Months Ended December 31,</font></div>
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<td colspan="2" valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Product Category</font></div>
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<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2013</font></div>
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<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Net Change</font></div>
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<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="2" valign="bottom">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">% Change</font></div>
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</tr><tr bgcolor="azure">
<td valign="bottom" width="52%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">CNS Cerebral &amp; Cardio Vascular</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">4.38</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">7.18</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-2.81</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-39</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">%</font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="52%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Anti-Viro/ Infection &amp; Respiratory</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">16.43</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">18.18</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-1.75</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-10</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">%</font></td>
</tr><tr bgcolor="azure">
<td valign="bottom" width="52%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Digestive Diseases</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1.31</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2.94</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-1.63</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-55</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">%</font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="52%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Other</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2.82</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">4.51</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-1.69</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-37</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">%</font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The most significant revenue decrease in terms of dollar amount was in our &#8220;CNS Cerebral &amp; Cardio Vascular&#8221; product category, which generated $4.4 million in sales revenue in 2014 compared to $7.2 million a year ago, a decrease of $2.8 million. This decrease was mainly due to having injectables as the main product in this category. The suspension of the two injectables product lines during 2014 negatively impacted our sales performance.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Sales of the &#8220;Anti-Viro/Infection &amp; Respiratory&#8221; category decreased by $1.8 million to $16.4 million in 2014 compared to $18.2 million in 2013, which was mainly due to the decrease in sales of Andrographolide and Clarithromycin, primarily affected by market demand volatility. Our &#8220;Digestive Diseases&#8221; category generated $1.3 million of sales in 2014, compared to $2.9 million in the previous year, a decrease of $1.6 million.&#160;&#160;Our &#8220;Other&#8221; product category sales fell to $2.8 million from $4.5 million, a decrease of $1.7 million.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div id="PGBRK" style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">48</font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>
</div>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">For year ended December 31, 2014, revenue breakdown by product category showed some changes. Sales of the &#8220;Anti-Viro &amp; Respiratory&#8221; products category represented 66% of total sales in the year ended on December 31, 2014, compared to 55% in 2013. The &#8220;CNS, Cerebral &amp; Cardio Vascular&#8221; category represented 18% of total revenue in 2014 and 22% in 2013. The &#8220;Digestive Diseases&#8221; category represented 5% of total revenue in 2014 compared to 9% in 2013.&#160;&#160;The &#8220;Other&#8221; category represented 11% and 14% of revenues in 2014and 2013, respectively.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Cost of Revenue</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">For the year ended December 31, 2014, our cost of revenue was $17.2 million, or 69% of total revenue, which represented a decrease of $6.2 million from $23.4 million, or 71% of total revenue, in 2013.&#160;&#160;The decrease in cost of revenue during 2014 was approximately proportional to the revenue decrease.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Inventory Obsolescence</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We have had decreases in the sales estimates between the time when raw materials were purchased and the time when the sales performance is realized for certain products. We have also assessed the fair value of our raw material. As a result, we determined that certain inventory was slow moving or obsolete. Based on the developed estimates as of December 31, 2014 and 2013, we recognized an additional inventory obsolescence expense of $2.3 million and $9.9 million for the years ended December 31, 2014 and 2013, respectively.</font></div>

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</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Gross Profit (Loss) and Gross (Loss) Margin</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Gross profit for the year ended December 31, 2014 was $5.5 million, compared to gross loss of $0.5 million in 2013. Our gross profit margin in 2014 was 22.0% compared to gross loss margin of (1.5)% in 2013. Without the effect of inventory obsolescence, management estimates that our gross profit would have been approximately 30.9% in 2014 and 28.7% in 2013. The healthcare reform instituted by the Chinese government since 2009 contains pricing controls, which have resulted in margin compression in most pharmaceutical products on the market today, especially in the generic space where many of our products are sold. Going forward, we expect to see continued pricing pressures on most products, while new products could help support overall gross margin once they are launched.</font></div>

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</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Selling Expenses</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Our selling expenses for the year ended December 31, 2014 and 2013 were both $3.3 million.&#160;&#160;Selling expenses accounted for 13.4% of the total revenue in 2014 compared to 10% in 2013.&#160;&#160;Due to many adjustments in our selling processes under healthcare reform policies, despite the decrease in sales, we still need additional personnel and expenses to support the sales and collection of accounts receivable.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div id="PGBRK" style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">49</font></div>

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<div id="HDR">
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</div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">General and Administrative Expenses</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Our general and administrative expenses for the year ended December 31, 2014 were $1.7 million, a decrease of $0.7 million from $2.4 million in 2013. General and administrative expenses accounted for 6.9% and 7.3% of our total revenues in 2014 and 2013, respectively.</font></div>

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</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The main reason for this decrease was due to adjustments of amortization expense in 2013 and 2014 which created an approximately $0.4 million difference under general and administrative expenses and an approximately $0.2 million expense under the consulting service agreement we entered in 2013 for which no comparable expense exists in 2014.</font></font></div>

<br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: -4.4pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Research and Development Expense</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: -4.4pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Our research and development expenses for the year ended December 31, 2014 were $2.8 million, an increase of $1.1 million from $1.7 million in 2013. Research and development expenses accounted for 11.2% and 5.1% of our total revenues in 2014 and 2013, respectively. The change in research and development expenses was mainly due to the costs related to testing of the new production lines. In addition, we commenced leading formulation screening, new technology exploration and technical criteria improvement activities since 2013. As a result, the expenses related to such activities increased in 2014.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: -4.4pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Bad Debt Expense</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: -4.4pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We recognized bad debt expense resulting from an increase in the allowance for doubtful accounts relating to trade accounts receivable and other receivables of $20.6 million and $10.8 million during the years ended December 31, 2014 and 2013, respectively.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: -4.4pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">During the third quarter of 2014, the Company offered two of its largest customers a discount of 30% on payments for accounts receivable that were older than one year. The amount of the outstanding accounts receivable balance the discount was applied to was approximately $1.8 million. As a result, the Company recognized additional bad debt expense of approximately $0.53 million for the year ended December 31, 2014.&#160;&#160;During 2013, Management negotiated settlement offers with certain customers with approximately $8.0 million in accounts receivable balances that were greater than one (1) year past due. The offers to these customers were comprised of discounts ranging from 15% to 30% of the total past due balance in exchange for payment in full by December 31, 2013. As a result, the Company was able to collect cash of approximately $5.85 million, and recognized additional bad debt expenses for the negotiated discounts of&#160;&#160;approximately $2.1 million for the year ended December 31, 2013.</font></div>

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</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: -4.4pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In general, our normal credit or payment terms extended to customers are 90 days. This has not changed in recent years. Due to the peculiarity of the Chinese pharmaceutical market environment, deferred payments to pharmaceutical companies by state-owned hospitals and local medicine distributors are a normal phenomenon. Our customers are primarily pharmaceutical distributors who sell our products to mostly government-backed hospitals. Therefore, the ages of our receivables from our customers tend to be long. Although these customers typically pay after the due date of the receivables, since the majority of hospitals in China are backed by the governments, management believes that the deferred payments from state-owned hospitals are relatively secured.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: -4.4pt" align="justify">&#160;</div>

<div id="PGBRK" style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
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<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">50</font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
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<div id="HDR">
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<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: -4.4pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The amount of accounts receivable that were past due (or the amount of accounts receivable that were more than 90 days old) was $23.6 million and $40.1 million as of December 31, 2014 and 2013, respectively. The following table illustrates our accounts receivable aging distribution in terms of percentage of total accounts receivable as of December 31, 2014 and 2013:</font></div>

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<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: -4.4pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">December 31,</font></div>
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<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: -4.4pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">December 31,</font></div>
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<td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: -4.4pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2014</font></div>
</td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: -4.4pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2013</font></div>
</td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: -4.4pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1 - 90 Days</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">5.2</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">%</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">8.0</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">%</font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">90 - 180 Days</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">4.5</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">%</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">7.4</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">%</font></td>
</tr><tr bgcolor="azure">
<td valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">180 - 360 Days</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">6.9</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">%</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">23.3</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">%</font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">360 - 720 Days</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">29.7</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">%</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">61.3</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">%</font></td>
</tr><tr bgcolor="azure">
<td valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&gt; 720 Days</font></div>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">53.7</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">%</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0.0</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">%</font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Total</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">100.0</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">%</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">100.0</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">%</font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Our bad debt allowance estimate is currently the sum of 3.5% of accounts receivable that are less than 365 days old, 10% of accounts receivable that are between 365 days and 720 days old and 100% of accounts receivable that are greater than 720 days old.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We recognize bad debt expense per actual write-offs as well as the changes of allowance for doubtful accounts. To the extent that our current allowance for doubtful accounts is higher than that of the previous period, we recognize a bad debt expense for the difference during the current period, and when the current allowance is lower than that of the previous period, we recognize a bad debt benefit for the difference. The allowance for doubtful accounts was $33.4 million and $13.3 million as of December 31, 2014 and December 31, 2013, respectively. The changes in the allowance for doubtful accounts during the years ended December 31, 2014 and 2013 were as follows:</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td colspan="7" valign="bottom">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">For the Fiscal Years Ended</font></div>
</td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td colspan="7" valign="bottom" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">December 31,</font></div>
</td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td colspan="3" valign="bottom" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2014</font></div>
</td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="3" valign="bottom" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2013</font></div>
</td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Balance, Beginning of Year</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">13,301,622</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">4,429,945</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Bad debt expense</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">20,643,035</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">10,752,991</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Charged to reserve</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-531,598</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-2,160,527</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Foreign currency translation adjustment</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-62,950</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">279,213</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td valign="bottom" width="76%" style="PADDING-BOTTOM: 4px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Balance, End of Year</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">33,350,109</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">13,301,622</font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We suffered losses of $2,276,519 relating to a tropical typhoon during the twelve months ended December 31, 2014 as discussed fully in Note 2 to the consolidated financial statements. There was no comparable expense in the prior year period.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Loss from Operations</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: -4.4pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Our operating loss for the year ended December 31, 2014 was $25.3 million, compared to operating loss of $18.6 million in 2013. The main reasons for the increase in loss were lower revenue and higher bad debt expenses in 2014.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Net Interest Expense</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Net interest expense for the year ended December 31, 2014 was $785,804, compared to $340,239 in 2013, an increase of $437,108. The increase is primarily due to the additional interest incurred in conjunction with the Construction loan facility as discussed in Note 10 to the consolidated financial statements.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Income Tax Expense</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">For the years ended December 31, 2014 and 2013, our income tax rate was 15%. Income tax expense was $0.8 million and $1.1 million for the years ended December 31, 2014 and 2013, respectively. We renewed our "National High-Tech Enterprise" status from the PRC government in the third quarter of 2013. With this designation, for the years ending December 31, 2014, 2015 and 2016, we enjoy a preferential tax rate of 15% which is notably lower than the statutory income tax rate of 25%.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Net Loss</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Net Loss for year ended December 31, 2014 was $26.0 million, compared to net loss of $20.0 million for the year ended December 31, 2013.&#160;The increase in net loss was mainly due to the decrease in revenue and increase in bad debt expense.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">For the year ended December 31, 2014, loss per basic and diluted common share was $(0.60), compared to loss per basic and diluted share of $(0.46) for the year ended December 31, 2013.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Liquidity and Capital Resources</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Our principal sources of liquidity are cash generated from operations and short-term bank loans.&#160;Our cash and cash equivalents was $5.3 million, which represents 4.0% of our total assets as of December 31, 2014, as compared to $6.0 million, which represents 3.8% of our total assets as of December 31, 2013. All of the $5.3 million of cash and cash equivalents as of December 31, 2014 is considered to be reinvested indefinitely in Helpson and is not expected to be available for payment of dividends, for other payments to our parent company or to its shareholders. As of December 31, 2014, we had a principal balance of $4.9 million in short-term bank loans. This loan is due on November 24, 2015. In addition, we entered into an eight-year construction loan facility with a bank on September 21, 2013. The total loan facility amount is RMB 80,000,000 (approximately $13 million), which had been fully utilized through May 7, 2014. The current portion of the construction loan facility is $1.6 million as of December 31, 2014. Both the short term bank loan and the construction loan facility are from the same bank. The cash flow generated from operating activities was used to fund the remaining construction of our GMP upgrading project in our new facility.</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Based on our current operating plan, management believes that our cash provided by operations will be sufficient to meet our working capital needs and our anticipated capital expenditures, including expenditures for new formula acquisitions and the new GMP upgrading related construction and equipment in our prior facility for the next twelve months. However, if circumstances change and we do not meet our operating plan as expected, we may be required to seek additional capital and/or to reduce certain discretionary spending, which could have a material adverse effect on our ability to achieve our business objectives. Notwithstanding the foregoing, we may seek additional financing as necessary for expansion purposes and when we believe market conditions are most advantageous, which may include debt and/or equity financing.&#160;&#160;There can be no assurance that any additional financing will be available on acceptable terms, if at all.</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Net cash provided by operating activities was $4.6 million in the year ended December 31, 2014 compared to $8.6 million for 2013.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">As of December 31, 2014, our accounts receivable was $24.9 million, a decrease of $20.3 million from $45.1 million as of December 31, 2013. Our receivables decreased due to our increased allowance for doubtful accounts and decrease in sales. For the year ended December 31, 2014, $3.4 million was used to fund accounts receivable, compared to $3.6 million generated from decrease in accounts receivable in the comparable period a year ago.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">As of December 31, 2014, total inventory was $15.3 million, a decrease of $9.4 million from $24.7 million as of December 31, 2013. This decrease was mainly due to decreased purchases of raw materials for injectable products and the increased inventory obsolescence recognized in 2014.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Investing Activities</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">During the year ended December 31, 2014, net cash used in investing activities was $5.9 million, a decrease of $13.2million, compared to $19.1 million for the year ended December 31, 2013.&#160;&#160;The investment spending in 2014 and 2013 was mainly for the new GMP upgrading related construction and equipment.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Cash flow provided from financing activities was $0.6 million and $12.3 million in the year ended December 31, 2014 and 2013, respectively. The financing activities that occurred in 2014 and 2013 were primarily related to the construction loan facility described under the first paragraph under this section entitled &#8220;Liquidity and Capital Resources&#8221;.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">According to relevant PRC laws, companies registered in the PRC, including our PRC subsidiary, Helpson, are required to allocate at least ten percent (10%) of their after-tax net income, as determined under accounting standards and regulations in the PRC, to statutory surplus reserve accounts until the reserve account balances reach fifty percent (50%) of the companies&#8217; registered capital prior to their remittance of funds out of the PRC.&#160;&#160;Allocations to these reserves and funds can only be used for specific purposes and are not transferrable to the parent company in the form of loans, advances or cash dividends.&#160;As of December 31, 2014 and 2013, the net assets of Helpson were $101,346,000 and $127,626,000, respectively.&#160;&#160;Due to the restriction on dividend distribution to overseas shareholders, the amount of Helpson&#8217;s net assets that were designated for general and statutory capital reserves, and thus could not be transferred to our parent company as cash dividends, were $8,145,000 and $8,182,770 (50% of registered capital) for the fiscal years ended December 31, 2014 and 2013, respectively.&#160;Since the amount that Helpson must set aside for the statutory surplus fund only accounts for 8.0% and 6.4%, respectively, of its total net assets, this reserve does not have a major impact on our liquidity.&#160;&#160;There were no allocations to the statutory surplus reserve accounts during the year ended December 31, 2014.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">As of December 31, 2014, we were obligated to pay laboratories and others approximately $4.6 million over approximately the next four years upon completion of the various phases of contracts to provide CFDA production approval of medical formulas.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Our consolidated balance sheets, as of December 31, 2014 and 2013, and the related consolidated statements of operations and comprehensive income, stockholders&#8217; equity and cash flows for each of the two years in the period ended December 31, 2014 and 2013, together with the related notes and the report of our independent registered public accounting firms, are set forth on the &#8220;F&#8221; pages of this report.</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">ITEM 9A. CONTROLS AND PROCEDURES</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Evaluation of Disclosure Controls and Procedures</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We maintain disclosure controls and procedures (as defined in Rule 13a-15(e) under the Exchange Act) that are designed to ensure that information that would be required to be disclosed in Exchange Act reports is recorded, processed, summarized and reported within the time period specified in the SEC&#8217;s rules and forms, and that such information is accumulated and communicated to our management, including to our Chief Executive Officer and interim Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">As required by Rule 13a-15 under the Exchange Act, our management, including our Chief Executive Officer and interim Chief Financial Officer, evaluated the effectiveness of the design and operation of our disclosure controls and procedures as of December 31, 2014. Based on that evaluation, our Chief Executive Officer and interim Chief Financial Officer concluded that as of December 31, 2014, our disclosure controls and procedures were not effective to satisfy the objectives for which they are intended due to the material weakness in our internal control over financial reporting discussed below.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Our management is responsible for establishing and maintaining adequate internal control over our financial reporting. Internal control over financial reporting is defined in Rule 13a-15(f) or 15d-15(f) under the Exchange Act as a process designed by, or under the supervision of, a company&#8217;s principal executive and principal financial officers, or persons performing similar functions, and effected by a company&#8217;s board of directors, management and other personnel to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with U.S. generally accepted accounting principles and includes those policies and procedures that (i) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of a company; (ii) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with U.S. generally accepted accounting principles and that receipts and expenditures of a company are being made only in accordance with authorizations of management and directors of a company; and (iii) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a company&#8217;s assets that could have a material effect on the financial statements.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Any system of internal control, no matter how well designed, has inherent limitations, including the possibility that a control can be circumvented or overridden and misstatements due to error or fraud may occur and not be detected in a timely manner. Also, because of changes in conditions, internal control effectiveness may vary over time. Accordingly, even an effective system of internal control will provide only reasonable assurance with respect to financial statement preparation. In addition, the design of any system of controls is based in part on certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions. Over time, controls may become inadequate because of changes in conditions or deterioration in the degree of compliance with policies or procedures. Therefore, any current evaluation of controls cannot and should not be projected to future periods.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Management assessed our internal control over financial reporting as of the year ended December 31, 2014. In making this assessment, management used the criteria set forth in 2013 by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) in the report entitled "Internal Control-Integrated Framework." The 2013 COSO framework summarizes each of the components of a company&#8217;s internal control system, including (i) the control environment, (ii) risk assessment, (iii) control activities, (iv) information and communication, and (v) monitoring.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Based on management's assessment using the COSO criteria, management has concluded that our internal control over financial reporting was not effective as of December 31, 2014 to allow our management, employees and consultants, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely and reasonable basis and to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external reporting purposes in accordance with U.S. generally accepted accounting principles (&#8220;U.S. GAAP&#8221;).</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">A material weakness is a control deficiency, or combination of control deficiencies, that results in more than a remote likelihood that a material misstatement of the annual or interim financial statements will not be prevented or detected. Our Chief Executive Officer and interim Chief Financial Officer has determined there existed a material weakness in our internal control over financial reporting as of December 31, 2014 with respect to our reporting for inventory obsolescence, and property and equipment. The material weaknesses occurred as a result of lack of accounting financial reporting personnel knowledgeable in U. S. GAAP. As of the date of this report, we are undertaking steps to correct the aforementioned material weakness by obtaining education and training for our personnel regarding the proper accounting under U.S. GAAP. Notwithstanding these material weaknesses, management has concluded that our consolidated financial statements included in this annual report are fairly stated in all material respects in accordance with U.S. GAAP for each period presented herein.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Because we are a smaller reporting company, this Annual Report on Form 10-K does not include an attestation report of our independent registered public accounting firm regarding internal control over financial reporting.</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Changes in Internal Controls over Financial Reporting</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">There were no changes in our internal control over financial reporting identified in connection with the evaluation required by paragraph (d) of Exchange Act Rules 13a-15 or 15d-15 that occurred during our last fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Listed below are the names and ages of all our directors and executive officers at March 19, 2015 along with their positions, offices and term:</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Zhilin Li</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Heung Mei Tsui</font></div>
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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Zhilin Li</font>, is the Chairman, President, Chief Executive Officer and interim Chief Financial Officer of our company. She has served as a director since 2006 and as the President and Chief Executive Officer since 2005. She was a founder of Helpson, and served as Chairman and Chief Executive Officer of Helpson from 1993 to 2005. Ms. Li was formerly the president of Haikou Bio-Engineering Institute as well as the vice president of Sichuan Institute of Biology. She graduated from Sichuan University with a degree in biology. Her role as a one of the founders of our company and her extensive experience in bio-engineering make her well suited to serve as our Chairman.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Gene Michael Bennett</font>, has served as our independent director since February 2008. Mr. Bennett also presently serves as the Chief Executive Officer of the American General Business Association in Beijing, China, since 2009. Mr. Bennett was a partner of Nexis Investment Consulting Corporation based in Beijing from 2004-2009. He acted as a partner of ProCFO Company based in California which provided contract Chief Financial Officer service for firms during 2000-2004. During 1998-2000, he was a basic law, accounting and tax professor at University of Hawaii, and an accounting, tax and audit professor at Chaminade of Honolulu. He also previously served as the Chief Financial Officer and member of the board of directors of Argonaut Computers in Southern California. Mr. Bennett worked as an accounting and audit professor at Chapman University. Mr. Bennett also worked as an accounting, tax, and audit professor at California State University at Fullerton, and he acted as the Chief Financial Officer and a board member of the National Automobile Club. Mr. Bennett graduated from Michigan State University with an MBA in Finance and BA in Accounting. He currently is a DBA candidate in Corporate Governance at City University of Hong Kong. Mr. Bennett obtained his CPA license from the State of Colorado, but is currently inactive. Mr. Bennett&#8217;s extensive background in accounting, financial management and reporting, including SEC related reporting qualifies Mr. Bennett to serve as an independent director of our company and the Chairman of our audit committee.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Yingwen Zhang</font>, has served as an independent director since February 2008. He also currently serves as the Vice-Chairman of the Board of Shanghai Reseat Medical Tech Co. Ltd., a medical device producer. Mr. Zhang is also a director and a member of the compensation committee of Chongqing Wanli Battery Holdings (Group) LLC (SHA:600847). He acted as the Senior Consultant and Chairman of Safety Production Committee of Sinofert Holdings Limited (HKG: 0297) of Sinochem Group from October 2005 to June 2009. Additionally, Mr. Zhang was the representative of the 9th Nation People&#8217;s Congress of China. He was also appointed as the Commercial Counselor of the China Embassy in Malaysia from March 2000 through October 2005. Prior to that, Mr. Zhang was appointed as the Director-General to Sichuan Provincial Foreign Trade and Economic Cooperation Bureau (the Commercial Bureau of Sichuan Province, China) from 1988 to 2000. In his early career he was a chemical-engineer, and then became a senior manager for several chemical corporations in China. From 1983 to 1988, Mr. Zhang served as the Chief Executive Officer of a large nature gas-chemical state owned enterprise (SOE) in the PRC affiliated with the Sinopec Group. Mr. Zhang graduated from the Chemical Engineering Department of Tianjin University in 1967. Mr. Zhang&#8217;s extensive knowledge in areas of government regulation and policies, his experience as director of a China listed company, as well as his vast experience in senior management in SOE and the private sector, qualify him as an independent director of our company.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Baowen Dong</font>, has served as an independent director since February 2008. Mr. Dong participated in the expert team of the Sichuan University from 2003 to 2008, engaging in teaching evaluation and assessment work in Engineering and Medical Science faculty. In recent years, Mr. Dong has focused on the research of China's Health Care Reform. Previously, he concentrated on biomedical and medical information researches. Mr. Dong has had different roles in areas of teaching and research, including a dean and a professor, at Sichuan University from 1974 to 2001. Additionally, Mr. Dong was engaged in the field of communication technology from 1966 to 1974. Mr. Dong graduated from Xi&#8217;an University of Science and Technology in 1966. His strong academic background in science and research brings value to our company in respect of research and development and qualifies him to serve as a director of our company.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Section 16(a) of the Securities Exchange Act of 1934, as amended, requires our directors, executive officers and persons who own more than 10% a registered class of our equity securities (&#8220;Reporting Persons&#8221;), to file reports of ownership and changes in ownership on Forms 3, 4 and 5 with the SEC. The Reporting Persons are also required by SEC rules to furnish us with copies of Section 16(a) forms they file. Based upon a review of the filings made on their behalf during the fiscal year ended December 31, 2014, as well as an examination of the SEC&#8217;s EDGAR system Form 3, 4, and 5 filings (including amendments to such forms) and our records, we believe that, during the year ended December 31, 2014, the Reporting Persons met all applicable Section 16(a) filing requirements.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">On July 8, 2008, we adopted a code of business conduct and ethics for all directors and employees (including officers) within the meaning of the regulations adopted by the SEC under Section 406 of the Sarbanes-Oxley Act of 2002. The code has been designed to deter wrongdoing and promote (i) honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships, (ii) full, fair, accurate, timely, and understandable disclosure in reports and documents that we file with, or submit to, the SEC and in other public communications made by us, (iii) compliance with applicable governmental laws, rules and regulations, (iv) the prompt internal reporting of violations of the code to an appropriate person or persons, and (v) accountability for adherence to the code. The application of the code to the persons it applies to may only be waived by our Board of Directors in accordance with SEC regulations and the Sarbanes-Oxley Act of 2002. A copy of the code is available on our website at www.chinapharmaholdings.com or may be obtained by sending a written request to our corporate secretary at China Pharma Holdings, Inc., Second Floor, No. 17, Jinpan Road, Haikou, Hainan Province, China 570216.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">On February 1, 2008, we established an audit committee, which currently consists of our three independent directors: Gene Michael Bennett, Yingwen Zhang and Baowen Dong. Mr. Bennett, the Chairman of the Audit Committee, is an &#8220;audit committee financial expert&#8221; as defined in Item 401(d)(5) of Regulation S-K promulgated under the Securities Act. The audit committee carries out its responsibilities in accordance with the terms of its Audit Committee Charter, a copy of which attached as Exhibit 99.1 to our Current Report on Form 10-K filed on March 17, 2009.</font><br>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Earnings ($)</font></div>
</td>
<td valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">All Other</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Compensation</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">($)</font></div>
</td>
<td valign="top" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Total</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">($)</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="9%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="7%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="9%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="7%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="9%" style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Zhilin Li</font></div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Chairman, Chief</font></div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Executive Officer,</font></div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">President and interim Chief Financial</font></div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Officer</font></div>
</td>
<td valign="top" width="6%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2014</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2013</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></div>
</td>
<td valign="top" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">225,600</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">220,000</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></div>
</td>
<td valign="top" width="7%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></div>
</td>
<td valign="top" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></div>
</td>
<td valign="top" width="7%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></div>
</td>
<td valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></div>
</td>
<td valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></div>
</td>
<td valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">16,000</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">16,000 <font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">(1)</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></div>
</td>
<td valign="top" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">241,600</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">236,000</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></div>
</td>
</tr><tr>
<td valign="top" width="9%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="7%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="9%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="7%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="9%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="7%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="9%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="7%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">_____________</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><br>
</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;(1) Represents the amount payable to Ms. Li for serving as a director of our company.</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><br>
</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Employment Agreements</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><br>
</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Zhilin Li</font>. Hainan Helpson Medical &amp; Biotechnology Co., Ltd., our wholly-owned subsidiary and operating entity in the PRC (&#8220;Helpson&#8221;), entered into an employment agreement with Ms. Zhilin Li, our Chairman of the Board and Chief Executive Officer, which expired on June 30, 2010. Upon the expiration of the original agreement, Helpson renewed the agreement with Ms. Li on the same terms as the original agreement. Pursuant to the terms of the new employment agreement, Ms. Li agreed to continue to serve as Helpson&#8217;s Chief Executive Officer for a term of five years at an annual salary of RMB800,000. Helpson may adjust Ms. Li's compensation based upon her production and operating achievement and her technical ability and working performance. Ms. Li&#8217;s total annual cash compensation for the fiscal year ended December 31, 2014, when aggregated with her compensation from our U.S. holding company level, was $225,600.</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><br>
</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Payments upon Termination or Change-in-Control</font></font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline">PRC Law. </font>Under the applicable laws of the PRC, we must pay severance to all employees who are Chinese nationals and who are terminated with or without cause, or whose employment agreement with us expires and we choose not to continue their employment. The severance benefit required to be paid under the laws of the PRC equals the average monthly compensation paid to the terminated employee (including any bonuses or other payments made in the 12 months prior to the employee&#8217;s termination) multiplied by the number of years the employee has been employed with us, plus an additional month&#8217;s salary if 30 days&#8217; prior notice of such termination has not been given. However, if the average monthly compensation to be received by the terminated employee exceeds three times the average monthly salary of the employee&#8217;s local area, as determined and published by the local government, such average monthly compensation shall be capped at three times the average monthly salary of the employee&#8217;s local area. Except as described above, our executive officer does not have any other agreement or arrangement under she may be entitled to severance payments upon termination of employment.</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><br>
</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Outstanding Equity Awards at Fiscal Year-End</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><br>
</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">None.</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><br>
</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Discussion of Summary Compensation and Grants of Plan-based Awards Tables</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><br>
</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">A summary of certain material terms of our existing compensation plans and arrangements is set forth below.</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><br>
</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">On November 12, 2010, our Board of Directors adopted, and on December 22, 2010 our stockholders approved, our 2010 Long-Term Incentive Plan (the &#8220;2010 Incentive Plan&#8221;), which gave us the ability to grant stock options, restricted stock, stock appreciation rights and performance units to employees, directors and consultants, or those who will become employees, directors and consultants of our company and/or our subsidiaries. The 2010 Incentive Plan currently allows for equity awards of up to 4,000,000 shares of common stock. As of March 19, 2015, 175,000 shares of restricted stock outstanding, and no options were outstanding.&#160;<font style="DISPLAY: inline; FONT-SIZE: 10pt">&#160;</font></font></font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>

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<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">58</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Director Compensation</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><br>
</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The following table sets forth information concerning cash and non-cash compensation earned by or paid to our directors during the year ended December 31, 2014.</font></font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><br>
</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td colspan="8" valign="top" width="86%">
<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">DIRECTOR COMPENSATION</font></div>
</td>
</tr><tr>
<td align="left" valign="bottom" width="19%">
<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Name</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></div>
</td>
<td valign="bottom" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Fees</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Earned</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">or</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Paid in</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Cash</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">($)</font></div>
</td>
<td valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Stock</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Awards</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">($)</font></div>
</td>
<td valign="bottom" width="8%">
<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Option</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Awards</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">($)</font></div>
</td>
<td valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Non-Equity</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Incentive</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Plan</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Compensation</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">($)</font></div>
</td>
<td valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Non-Qualified</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Deferred</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Compensation</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Earnings</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">($)</font></div>
</td>
<td valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">All</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Other</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Compensation</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">($)</font></div>
</td>
<td valign="bottom" width="10%">
<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Total</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">($)</font></div>
</td>
</tr><tr>
<td align="left" valign="bottom" width="19%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="top" width="19%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Heung Mei Tsui</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></div>
</td>
<td align="right" valign="top" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">16,000</font></div>
</td>
<td valign="top" width="9%">
<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>
</td>
<td valign="top" width="8%">
<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>
</td>
<td valign="top" width="11%">
<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>
</td>
<td valign="top" width="11%">
<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>
</td>
<td valign="top" width="11%">
<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">16,000</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="19%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Gene Michael Bennett</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></div>
</td>
<td align="right" valign="top" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">16,000</font></div>
</td>
<td valign="top" width="9%">
<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>
</td>
<td valign="top" width="8%">
<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>
</td>
<td valign="top" width="11%">
<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>
</td>
<td valign="top" width="11%">
<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>
</td>
<td valign="top" width="11%">
<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">16,000</font></div>
</td>
</tr><tr bgcolor="azure">
<td align="left" valign="top" width="19%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Yingwen Zhang</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></div>
</td>
<td align="right" valign="top" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">6,511</font></div>
</td>
<td valign="top" width="9%">
<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>
</td>
<td valign="top" width="8%">
<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>
</td>
<td valign="top" width="11%">
<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>
</td>
<td valign="top" width="11%">
<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>
</td>
<td valign="top" width="11%">
<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">6,511</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="19%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Baowen Dong</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></div>
</td>
<td align="right" valign="top" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">6,511</font></div>
</td>
<td valign="top" width="9%">
<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>
</td>
<td valign="top" width="8%">
<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>
</td>
<td valign="top" width="11%">
<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>
</td>
<td valign="top" width="11%">
<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>
</td>
<td valign="top" width="11%">
<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>
</td>
<td align="right" valign="top" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">6,511</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><br>
</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Our directors will also be reimbursed for all of their out-of-pocket expenses in traveling to and attending meetings of our Board of Directors and committees on which they serve.</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><br>
</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Ms. Zhilin Li, our Chairman, President and Chief Executive Officer, was also compensated for serving on our board of directors as set forth in the Summary Compensation Table appearing earlier in this Item 11.</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><br>
</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Engagement Letters</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><br>
</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">On December 31, 2014, we renewed the engagement letters with each of our three independent directors. Pursuant to the renewed engagement letters on the same terms and conditions as the previous engagement, each of Mr. Zhang and Mr. Dong is entitled to receive annual compensation of RMB40,000 (approximately $6,511), payable quarterly and Mr. Bennett is entitled to receive annual compensation of $16,000, payable quarterly, and a warrant to purchase 5,000 shares of common stock at an exercise price of $0.38 per share. As of the date of this report, no warrants have been issued to Mr. Bennett.</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><br>
</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">On December 24, 2012, we also entered into a renewal engagement letter with Ms. Tsui, pursuant to which, Ms. Tsui is entitled to annual compensation of $16,000 for serving as our director for a term of three years.</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><br>
</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;&#160;</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDERS MATTERS</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><br>
</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The following table sets forth certain information as of March 19, 2015 with respect to the beneficial ownership of our common stock, the sole outstanding class of our voting securities, by (i) any person or group owning more than 5% of each class of voting securities, (ii) each director, (iii) each executive officer and (iv) all executive officers and directors as a group.</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><br>
</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">As of March 19, 2015, an aggregate of 43,579,557 shares of our common stock were outstanding.</font></font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>

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<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">59</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td colspan="2" valign="top" width="42%" style="BORDER-BOTTOM: black 4px double">
<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></div>

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<td valign="top" width="15%" style="BORDER-BOTTOM: black 4px double">
<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Amount</font></div>

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<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">of Beneficial</font></div>

<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Ownership</font></div>
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<td align="right" valign="top" width="6%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="4%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="15%" style="BORDER-BOTTOM: black 4px double">
<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Percent of Class<font style="DISPLAY: inline; FONT-SIZE: 10pt">(3)</font></font></div>
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<td align="left" valign="top" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td colspan="2" valign="top" width="42%">
<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Directors and Executive Officers</font></div>
</td>
<td align="right" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td align="left" colspan="2" valign="top" width="42%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="azure">
<td colspan="2" valign="top" width="42%">
<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Zhilin Li</font></div>

<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">President, Chief Executive Officer,</font></div>

<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Interim Chief Financial Officer</font></div>

<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">and Chairman of the Board</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></div>
</td>
<td align="right" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">10,050,000</font></div>
</td>
<td align="right" valign="top" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="15%">
<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">23.1%</font></div>
</td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td colspan="2" valign="top" width="42%">
<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Heung Mei Tsui</font></div>

<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Director</font></div>

<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></div>
</td>
<td align="right" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="15%">
<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">9,312,651</font></div>
</td>
<td align="right" valign="top" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="15%">
<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">21.4%</font></div>
</td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="azure">
<td colspan="2" valign="top" width="42%">
<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Yingwen Zhang</font></div>

<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Director</font></div>

<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></div>
</td>
<td align="right" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="15%">
<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0</font></div>
</td>
<td align="right" valign="top" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="15%">
<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">*</font></div>
</td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td colspan="2" valign="top" width="42%">
<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Gene Michael Bennett <font style="DISPLAY: inline; FONT-SIZE: 10pt">(4)</font></font></div>

<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Director</font></div>

<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></div>
</td>
<td align="right" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="15%">
<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0</font></div>
</td>
<td align="right" valign="top" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="15%">
<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">*</font></div>
</td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="azure">
<td colspan="2" valign="top" width="42%">
<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Baowen Dong</font></div>

<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Director</font></div>
</td>
<td align="right" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="15%">
<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0</font></div>
</td>
<td align="right" valign="top" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="15%">
<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">*</font></div>
</td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td colspan="2" valign="bottom" width="42%">
<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">All directors and executive officers as a group (5 persons)</font></div>
</td>
<td align="right" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="15%">
<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">19,362,651</font></div>
</td>
<td align="right" valign="top" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="15%">
<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">44.5%</font></div>
</td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="azure">
<td colspan="2" valign="top" width="42%">
<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Greater than 5% Stockholders</font></div>
</td>
<td align="right" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" colspan="2" valign="top" width="42%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="azure">
<td colspan="2" valign="top" width="42%">
<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Pope Asset Management, LLC</font></div>

<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">5100 Poplar Ave, Ste 805</font></div>

<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Memphis, TN 38137</font></div>
</td>
<td align="right" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="15%">
<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2,224,831<font style="DISPLAY: inline; FONT-SIZE: 10pt">(5)</font></font></div>
</td>
<td align="right" valign="top" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="15%">
<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">5.1%</font></div>
</td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" colspan="2" valign="top" width="42%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="azure">
<td colspan="2" valign="top" width="42%">
<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Jian Yang</font></div>

<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></div>
</td>
<td align="right" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="15%">
<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2,278,815</font></div>
</td>
<td align="right" valign="top" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="15%">
<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">5.2%</font></div>
</td>
<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td colspan="7" valign="top" width="78%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">__________________</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td colspan="7" valign="top" width="78%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="6%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">*</font></div>
</td>
<td colspan="7" valign="top" width="78%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Represents less than 1%.</font></div>
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</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><br>
</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td align="left" valign="top" width="6%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(1)</font></div>
</td>
<td valign="top" width="78%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Pursuant to Rule 13d-3 under the Exchange Act, a person has beneficial ownership of any securities as to which such person, directly or indirectly, through any contract, arrangement, undertaking, relationship or otherwise has or shares voting power and/or investment power or as to which such person has the right to acquire such voting and/or investment power within 60 days.</font></div>
</td>
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</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><br>
</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td align="left" valign="top" width="6%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(2)</font></div>
</td>
<td valign="top" width="78%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Unless otherwise stated, each beneficial owner has sole power to vote and dispose of the shares and the address of such person is c/o China Pharma Holdings, Inc., 2nd Floor, No. 17 Jinpan Road, Haikou, Hainan Province, People&#8217;s Republic of China 570216.</font></div>
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</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><br>
</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td align="left" valign="top" width="6%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(3)</font></div>
</td>
<td valign="top" width="78%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">In determining the percentage of common stock owned by the beneficial owners, (a) the numerator is the number of shares of common stock beneficially owned by such owner, including shares the owner may acquire, within 60 days of March 19, 2015 upon the exercise of the options or warrants, if any, held by the owner; and (b) the denominator is the sum of (i) the total 43,579,557 shares of common stock outstanding as of March 19, 2014, and (ii) the number of shares underlying any options or warrants, which such owner has the right to acquire upon the exercise of such options or warrants within 60 days of March 19, 2015 (for those who have options or warrants).</font></div>
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</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td align="left" valign="top" width="6%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(4)</font></div>
</td>
<td valign="top" width="78%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Pursuant to the terms of his engagement letters, Mr. Bennett is entitled to receive warrants to purchase&#160;&#160;an aggregate of 10,000 shares of our common stock (5,000 shares in each of the 2012 and 2013 fiscal years).&#160;&#160;As of the date of this report such warrants have not been issued.</font></div>
</td>
</tr><tr>
<td valign="top" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="78%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td align="left" valign="top" width="6%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(5)</font></div>
</td>
<td valign="top" width="78%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Pope Asset Management, LLC (&#8220;Pope Management&#8221;) is the investment adviser for Pope Investments II LLC (&#8220;Pope Investment&#8221;). Pope Investments owns 52,823 shares. Pope Management owns 2,172,008 shares on behalf of its clients. Therefore, Pope Management, as investment advisor to Pope Investments could be deemed to be beneficial owners of 2,224,831 shares. Mr. William Wells is the sole manager of Pope Management and has dispositive and voting power over the shares held by Pope Investment. This information is derived from Schedule 13G filed by Pope Management, Pope Investment and Mr. William jointly on February 14, 2013.</font></div>
</td>
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</div>

<div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>

<div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>

<div id="PGBRK" style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">60</font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
</div>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><br>
</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">ITEM 13.</font> <font style="DISPLAY: inline; FONT-WEIGHT: bold">CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE.</font></font></font></div>

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</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Related Party Transactions</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><br>
</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block">
<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Mr. Tsui, one of our directors, has made various loans to the Company. The balance of such loans from Mr. Tsui was $1,354,567 as of December 31, 2014 and 2013. The loans bear interest at a rate of 1% per annum and principle and interest were payable by December 31, 2015, pursuant to a loans extension confirmation letter executed by the Company and Ms. Tsui. We recognized interest expense of $13,546 and $13,546 for the years ended December 31, 2014 and 2013, respectively.</font></font></div>

<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><br>
</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Independence of the Board of Directors</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The board of directors has determined that Messrs. Gene Michael Bennett, Baowen Dong and Yingwen Zhang are &#8220;independent directors&#8221; as defined in the listing standards of NYSE MKT.</font><br>
</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Audit Fees</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><br>
</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The aggregate fees billed by Arshak Davtyan, Inc., our current principal accountant, for professional services rendered for the audit of our annual financial statements included in our Annual Reports on Form 10-K, for the reviews of the financial statements included in our Quarterly Reports on Form 10-Q, and for services in connection with statutory and regulatory filings or engagements were approximately $94,000 for the fiscal year ended December 31, 2014.</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><br>
</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The aggregate fees billed by Arshak Davtyan, Inc. (f/k/a: Arshak Davtyan, CPA), our current principal accountant, for professional services rendered for the audit of our annual financial statements included in our Annual Reports on Form 10-K, for the reviews of the financial statements included in our Quarterly Report on Form 10-Q in the third quarter of 2013, and for services in connection with statutory and regulatory filings or engagements were approximately $76,000 for the fiscal year ended December 31, 2013.</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><br>
</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The aggregate fees billed by Hansen, Barnett &amp; Maxwell, P.C., our former principal accountants, for professional services rendered for the reviews of the financial statements included in our Quarterly Reports on Form 10-Q of first and second quarters in 2013 was $24,000.</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><br>
</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Audit-Related Fees</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><br>
</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We did not incur any audit-related fees during the fiscal years ended December 31, 2014 and 2013.</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">CHINA PHARMA HOLDINGS, INC.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(principal executive officer)</font></div>
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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Zhilin Li</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(principal executive officer) and interim Chief Financial Officer </font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(principal financial officer and principal accounting officer)</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">March 30, 2015</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CHINA PHARMA HOLDINGS, INC.</font></font></div>

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<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
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<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="2" valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="2" valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="2" valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="7%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">3.2</font></div>
</td>
<td colspan="4" valign="top" width="75%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Bylaws of the Company (incorporated by reference to Exhibit 3.2 to our Current Report on Form 8-K filed on December 31, 2012).</font></div>
</td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="2" valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="2" valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="2" valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td align="left" valign="top" width="7%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="51%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="20%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="2" valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="2" valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="2" valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="7%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">10.1</font></div>
</td>
<td colspan="4" valign="top" width="75%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Engagement Letter dated December 24, 2012 by and between the Company and Ms. Heung Mei Tsui for Ms. Tsui serving as a director of the Company (incorporated by reference to Exhibit 10.1 to our Annual Report on Form 10-K filed on March 14, 2013).</font></div>
</td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="3" valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td align="left" valign="top" width="7%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="4" valign="top" width="75%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="3" valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="7%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">10.2*</font></div>
</td>
<td colspan="4" valign="top" width="75%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Form of Independent Director Engagement Letter.</font></div>
</td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="3" valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td align="left" valign="top" width="7%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="4" valign="top" width="75%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="3" valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="7%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">10.3</font></div>
</td>
<td colspan="4" valign="top" width="75%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Employment Agreement dated July 1, 2010 between Hainan Helpson Medical &amp; Biotechnology Co., Ltd. and Zhilin Li. (incorporated by reference to our Quarterly Report on Form 10-Q filed on November 10, 2010).</font></div>
</td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="2" valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td align="left" valign="top" width="7%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td colspan="4" valign="top" width="75%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="3" valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="7%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">10.4*</font></div>
</td>
<td colspan="4" valign="top" width="75%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Loans Extension Confirmation Letter between the Company and Heung Mei Tsui confirming the extension of the loans.</font></font></div>
</div>
</td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="3" valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td align="left" valign="top" width="7%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="4" valign="top" width="75%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="3" valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="7%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">10.5</font></div>
</td>
<td colspan="4" valign="top" width="75%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2010 Long-Term Incentive Plan of the Company (incorporated by reference to the Definitive Proxy Statement on Schedule 14A filed on November 12, 2010).</font></div>
</td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="3" valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td align="left" valign="top" width="7%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="4" valign="top" width="75%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="3" valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="7%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">10.6</font></div>
</td>
<td colspan="4" valign="top" width="75%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Form of Restricted Stock Grant Agreement between the Company and the grantees under 2010 Long-Term Incentive Plan of the Company (incorporated by reference to our Current Report on Form 8-K filed on June 1, 2011).</font></div>
</td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="2" valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="2" valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="2" valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td align="left" valign="top" width="7%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="2" valign="top" width="53%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="20%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="2" valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="2" valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="2" valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
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<td valign="top" width="7%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">10.7</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Form of Non-Qualified Stock Option Grant Agreement between the Company and the grantees under 2010 Long-Term Incentive Plan of the Company (incorporated by reference to our Current Report on Form 8-K filed on June 1, 2011).</font></div>
</td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="2" valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="2" valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="2" valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
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<td align="left" valign="top" width="7%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="4" valign="top" width="75%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="2" valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="2" valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="2" valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
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<td valign="top" width="7%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">14.1</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Code of Business Conduct and Ethics (incorporated by reference to the Registration Statement on Form S-1 filed on July 11, 2008).</font></div>
</td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="2" valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="2" valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="2" valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td align="left" valign="top" width="7%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="4" valign="top" width="75%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="2" valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="2" valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="2" valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="7%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">21.1</font></div>
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<td colspan="14" valign="top" width="75%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Subsidiaries of the Company (incorporated by reference to our Annual Report on Form 10-K filed on March 3, 2011).</font></td>
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</div>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></div>

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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">23.1*</font></div>
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<td valign="top" width="74%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Consent of Arshak Davtyan, Inc.</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></div>

<div>
<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td valign="top" width="7%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">31.1*</font></div>
</td>
<td valign="top" width="91%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Certification of Chief Executive Officer pursuant to Rule 13a-14 and Rule 15d-14(a) of the Exchange Act.</font></div>
</td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td align="left" valign="top" width="7%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="91%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="7%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">31.2*</font></div>
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<td valign="top" width="91%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Certification of Chief Financial Officer pursuant to Rule 13a-14 and Rule 15d-14(a) of the Exchange Act.</font></div>
</td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td align="left" valign="top" width="7%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="91%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="7%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">32.1*</font></div>
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<td valign="top" width="91%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Certification of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.</font></div>
</td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div>&#160;</div>

<div>
<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td valign="top" width="7%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">101*</font></div>
</td>
<td valign="top" width="91%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Interactive data files pursuant to Rule 405 of Regulation S-T</font></div>
</td>
<td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>
</div>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></div>

<div id="PGBRK" style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">64</font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CHINA PHARMA HOLDINGS, INC.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">INDEX TO FINANCIAL STATEMENTS</font></div>

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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td valign="top" width="67%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0.8pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline">Page</font></font></div>
</td>
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<td align="left" valign="top" width="67%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Report of Arshak Davtyan, Inc., Independent Registered Public Accounting Firm</font></div>
</td>
<td valign="top" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0.8pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">F-2</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="67%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="top" width="67%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Consolidated Balance Sheets as of December 31, 2014 and 2013</font></div>
</td>
<td valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0.8pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">F-3</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="67%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="top" width="67%">
<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0.8pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Consolidated Statements of Operations and Comprehensive Loss for the Years Ended December 31, 2014 and 2013</font></div>
</td>
<td valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0.8pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">F-4</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="67%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="top" width="67%">
<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0.8pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Consolidated Statements of Stockholders&#8217; Equity for the Years Ended December 31, 2013 and 2014</font></div>
</td>
<td valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0.8pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">F-5</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="top" width="67%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="top" width="67%">
<div style="TEXT-INDENT: -36pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0.8pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Consolidated Statements of Cash Flows for the Years Ended December 31, 2014 and 2013</font></div>
</td>
<td valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0.8pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">F-6</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="67%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="9%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">To the Board of Directors and the Stockholders</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">China Pharma Holdings, Inc.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Salt Lake City, Utah</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2014</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">ASSETS</font></div>
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<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="2" valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="2" valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
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<td align="left" valign="bottom">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Current Assets:</font></div>
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<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="2" valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="2" valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
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<td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Cash and cash equivalents</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">5,295,790</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">5,993,139</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
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<td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Banker's acceptances</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">458,233</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">336,003</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Trade accounts receivable, less allowance for doubtful</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">accounts of $33,350,109 and $13,301,622, respectively</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">24,851,086</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">45,147,602</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Other receivables, less allowance for doubtful</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">accounts of $60,325 and $43,064, respectively</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">272,199</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">175,739</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 446pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Advances to suppliers</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">7,889,009</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">7,626,716</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Inventory, less allowance for obsolescence</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">of $6,934,044 and $8,027,126, respectively</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">15,321,856</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">24,677,120</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px; PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Prepaid expenses</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">404,370</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total Current Assets</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">54,492,543</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">83,956,319</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Advances for purchases of intangible assets</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">42,390,186</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">41,701,505</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Property and equipment</font>, net of accumulated depreciation of</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$6,640,718 and $5,264,350, respectively</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">33,881,878</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">30,241,337</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Intangible assets</font>, net of accumulated amortization of</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px; PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$4,186,273 and $3,812,992, respectively</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1,317,221</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1,711,793</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 4px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">TOTAL ASSETS</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">132,081,828</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">157,610,954</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">LIABILITIES AND STOCKHOLDERS' EQUITY</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Current Liabilities:</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Trade accounts payable</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2,550,816</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1,877,437</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Accrued expenses</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">269,870</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">323,651</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Other payables</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1,401,470</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1,312,361</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Advances from customers</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2,078,866</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2,228,238</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Other payables - related parties</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1,354,567</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1,354,567</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Current portion of construction loan facility</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1,629,062</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px; PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Short-term notes payable</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">4,887,187</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">4,909,662</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total Current Liabilities</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">14,171,838</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">12,005,916</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Non-current Liabilities:</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Construction loan facility</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">11,403,438</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">12,484,183</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px; PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Long-term deferred tax liability</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">252,707</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">176,414</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total Liabilities</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">25,827,983</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">24,666,513</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Stockholders' Equity:</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Preferred stock, $0.001 par value; 5,000,000 shares authorized;</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">no shares issued or outstanding</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Common stock, $0.001 par value; 95,000,000 shares authorized;</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">43,579,557 shares and 43,579,557 shares outstanding, respectively</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">43,580</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">43,580</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Additional paid-in capital</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">23,590,204</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">23,590,204</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Retained earnings</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">62,848,901</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">88,896,276</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px; PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Accumulated other comprehensive income</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">19,771,160</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">20,414,381</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total Stockholders' Equity</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">106,253,845</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">132,944,441</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 4px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">132,081,828</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">157,610,954</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr></table>
</div>

<div>&#160;</div>

<div>
<div style="TEXT-INDENT: 0pt; DISPLAY: block">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The accompanying notes are an integral part of these consolidated financial statements.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>

<div id="PGBRK" style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">F - 3</font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>
</div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block">
<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td colspan="8" valign="bottom">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CHINA PHARMA HOLDINGS, INC.</font></div>
</td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
</tr><tr>
<td colspan="8" valign="bottom">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CONSOLIDATED STATEMENTS OF OPERATIONS</font></div>
</td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
</tr><tr>
<td colspan="8" valign="bottom">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">AND COMPREHENSIVE LOSS</font></div>
</td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
</tr><tr>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="2" valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="2" valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="2" valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="2" valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="6" valign="bottom">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">For the Year</font></div>
</td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="6" valign="bottom" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Ended December 31,</font></div>
</td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
</tr><tr>
<td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2014</font></div>
</td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2013</font></div>
</td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Revenue</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">24,927,707</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">32,806,678</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Cost of revenue</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">17,215,576</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">23,405,886</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Inventory obsolescence</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2,250,130</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">9,881,711</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Gross profit (loss)</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">5,462,001</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(480,919</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Operating expenses:</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Selling expenses</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">3,346,511</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">3,284,905</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">General and administrative expenses</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1,716,760</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2,404,338</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Research and development expenses</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2,798,557</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1,683,244</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Bad debt expense</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">20,643,035</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">10,752,991</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px; PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Losses from natural disaster</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2,276,519</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Total operating expenses</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">30,781,382</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">18,125,478</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Subsidy income</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">65,113</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Loss from operations</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(25,254,268</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(18,606,397</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Other income (expense):</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Interest income</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">69,739</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">8,457</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px; PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Interest expense</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(785,804</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(348,696</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Net other expense</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(716,065</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(340,239</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
</tr><tr bgcolor="azure">
<td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Loss before income taxes</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(25,970,333</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(18,946,636</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Income tax&#160;&#160;expense</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(77,042</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(1,061,413</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Net loss</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(26,047,375</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(20,008,049</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Other comprehensive income&#160;(loss)&#160;- foreign currency</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px; PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">translation adjustment</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(643,221</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">4,435,923</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 4px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Comprehensive loss</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(26,690,596</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(15,572,126</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Loss per share:</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 4px; PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Basic</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(0.60</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(0.46</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 4px; PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Diluted</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(0.60</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(0.46</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
</tr></table>
</div>

<br>
</div>

<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block">The accompanying notes are an integral part of these consolidated financial statements.</div>

<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>

<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>

<div id="PGBRK" style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">F - 4</font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>
</div>
</div>

<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>

<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block">
<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td colspan="24" valign="bottom" width="99%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CHINA PHARMA HOLDINGS, INC.</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
</tr><tr>
<td colspan="24" valign="bottom" width="99%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold">FOR THE YEARS ENDED DECEMBER 31, 2013 AND 2014</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
</tr><tr>
<td valign="bottom" width="28%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="2" valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="2" valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="2" valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="2" valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="2" valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="2" valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td valign="bottom" width="28%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="2" valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="2" valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="2" valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="2" valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="3" valign="bottom" width="11%" style="TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Accumulated</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="2" valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td valign="bottom" width="28%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="2" valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="2" valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Additional</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="2" valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="4" valign="bottom" width="12%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Other</font></td>
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<td valign="bottom" width="28%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="7" valign="bottom" width="23%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Common Stock</font></div>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" valign="bottom" width="10%" style="PADDING-BOTTOM: 2px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Paid-in</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" valign="bottom" width="10%" style="PADDING-BOTTOM: 2px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Retained</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="3" valign="bottom" width="11%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Comprehensive</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="4" valign="bottom" width="11%" style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Stockholders'</font></div>
</td>
</tr><tr>
<td valign="bottom" width="28%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Shares</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Amount</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Capital</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Earnings</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Income</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Equity</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
</tr><tr>
<td valign="bottom" width="28%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="2" valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="2" valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="2" valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="2" valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="2" valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="2" valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="28%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Balance, December 31, 2012</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">43,579,557</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">43,580</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">23,590,204</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">108,904,325</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">15,978,458</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">148,516,567</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="28%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="28%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Net loss for the year</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(20,008,049</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right">&#160;-</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(20,008,049</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="28%" style="PADDING-BOTTOM: 2px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Foreign currency translation adjustment</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">4,435,923</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">4,435,923</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="28%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Balance, December 31, 2013</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">43,579,557</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">43,580</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">23,590,204</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">88,896,276</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">20,414,381</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">132,944,441</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="28%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="28%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Net loss for the year</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(26,047,375</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(26,047,375</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="28%" style="PADDING-BOTTOM: 2px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Foreign currency translation adjustment</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(643,221</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(643,221</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="28%" style="PADDING-BOTTOM: 4px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Balance, December 31, 2014</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">43,579,557</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">43,580</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">23,590,204</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">62,848,901</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">19,771,160</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">106,253,845</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr></table>
</div>
</div>

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<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block">The accompanying notes are an integral part of these consolidated financial statements.</div>

<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>

<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>

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<div id="PGBRK" style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">F - 5</font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>
</div>
</div>
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<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>

<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block">
<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td colspan="8" valign="bottom">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CHINA PHARMA HOLDINGS, INC.</font></div>
</td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
</tr><tr>
<td colspan="8" valign="bottom">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CONSOLIDATED STATEMENTS OF CASH FLOWS</font></div>
</td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
</tr><tr>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="2" valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="2" valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="2" valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="2" valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="6" valign="bottom">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">For the Year</font></div>
</td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="6" valign="bottom" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Ended December 31,</font></div>
</td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
</tr><tr>
<td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2014</font></div>
</td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2013</font></div>
</td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
</tr><tr>
<td align="left" valign="bottom">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Cash Flows from Operating Activities:</font></div>
</td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="2" valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="2" valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Net loss</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(26,047,375</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(20,008,049</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Depreciation and amortization</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1,785,835</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1,612,830</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Bad debt expense</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">20,643,035</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">10,752,991</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Deferred income taxes</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">77,042</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1,061,413</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Inventory obsolescence reserve</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(1,055,529</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">6,121,655</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Changes in assets and liabilities:</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Trade accounts and other receivables</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(3,443,329</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">3,633,180</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Advances to suppliers</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(296,979</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(2,625,629</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Inventory</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">12,780,457</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">11,155,810</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Trade accounts payable</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">634,673</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(1,183,733</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Accrued taxes payable</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">84</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(2,499,949</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Other payables and accrued expenses</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">37,584</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">356,640</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Advances from customers</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(139,066</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">218,656</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px; PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Prepaid expenses</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(404,060</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Net Cash Provided by Operating Activities</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">4,572,372</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">8,595,815</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Cash Flows from Investing Activities:</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Advances for purchases of intangible assets</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(714,697</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(298,631</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px; PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Purchases of property and equipment</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(5,128,699</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(18,794,261</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Net Cash Used in Investing Activities</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(5,843,396</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(19,092,892</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
</tr><tr bgcolor="azure">
<td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Cash Flows from Financing Activities:</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px; PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Proceeds from construction term loan</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">605,002</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">12,322,648</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Net Cash Provided by Financing Activity</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">605,002</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">12,322,648</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Effect of Exchange Rate Changes on Cash</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(31,327</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">137,860</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Net (Decrease) Increase in Cash and Cash Equivalents</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(697,349</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1,963,431</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Cash and Cash Equivalents at Beginning of Period</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">5,993,139</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">4,029,708</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 4px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Cash and Cash Equivalents at End of Period</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">5,295,790</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">5,993,139</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Supplemental Cash Flow Information:</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Cash paid for interest</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1,230,800</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">569,855</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 4px; PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Cash paid for income taxes</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2,481,164</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Supplemental Noncash Investing and Financing Activities:</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Accounts payable for purchases of property and equipment</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">46,780</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">144,243</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Accounts receivable collected with banker's acceptances</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2,777,579</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">8,317,045</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Inventory purchased with banker's acceptances</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2,489,698</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">4,626,165</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Advances for purchases of equipment paid with banker's acceptances</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2,564,790</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 4px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Advances for purchases of intangibles paid with banker's acceptances</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">164,208</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">897,820</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr></table>
</div>

<br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block">The accompanying notes are an integral part of these consolidated financial statements.</div>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>

<div id="PGBRK" style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">F - 6</font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>
</div>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CHINA PHARMA HOLDINGS, INC.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">FOR THE YEARS ENDED DECEMBER 31, 2014 AND 2013</font></div>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NOTE 1 &#8211; ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Organization and Nature of Operations &#8211; </font>China Pharma Holdings, Inc., a Nevada corporation, owns 100% of Onny Investment Limited (Onny), a British Virgin Islands corporation, which owns 100% of Hainan Helpson Medical &amp; Biotechnology Co., Ltd (Helpson), a company organized under the laws of the People's Republic of China (the PRC). China Pharma Holdings, Inc. and its subsidiaries are referred to herein as the Company.</font></div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="BACKGROUND-COLOR: #ffffff; DISPLAY: inline">On December 31, 2012, China Pharma Holdings, Inc consummated a reincorporation merger for the purpose of changing its state of incorporation from Delaware to Nevada pursuant to the terms and conditions of an Agreement and Plan of Merger dated December 27, 2012.&#160;&#160;The reincorporation merger was approved by stockholders holding the majority of the Company&#8217;s outstanding shares of common stock on December 21, 2012.</font></font></div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The Foreign Investment Industrial Catalogue<font style="FONT-STYLE: italic; DISPLAY: inline">&#160;</font>(the &#8220;Catalogue&#8221;) jointly issued by China&#8217;s Ministry of Commerce and the National Development and Reform Commission (the latest version is the 2012 version, effective January 30, 2012) classified various industries/businesses into three different categories: (i) encouraged for foreign investment; (ii) restricted to foreign investment; and (iii) prohibited from foreign investment. For any industry/business not covered by any of these three categories, they will be deemed industries/businesses permitted for foreign investment. A typical foreign investment ownership restriction in the pharmaceutical industry is that a foreign investment enterprise (the &#8220;FIE&#8221;) shall not have the whole or majority of its equity interests owned by a foreign owner if the FIE establishes more than 30 branch stores and distributes a variety of brands in those franchise stores, which is not the case for the Company&#8217;s business.</font></div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Helpson manufactures and markets generic and branded pharmaceutical products as well as biochemical products primarily to hospitals and private retailers located throughout the PRC. The Company believes Helpson&#8217;s business is not subject to any ownership restrictions prescribed under the Catalogue. Onny acquired 100% of the ownership in Helpson on May 25, 2005 by entering into an Equity Transfer Agreement with Helpson&#8217;s three former shareholders. The transaction was approved by the Commercial Bureau of Hainan Province on June 12, 2005 and Helpson received the Certificate of Approval for Establishing of Enterprises with Foreign Investment in the PRC on the same day and its business license evidencing its WFOE (Wholly Foreign Owned Enterprise) status on June 21, 2005.</font></div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The Company has acquired and continues to acquire well-accepted medical formulas to add to its diverse portfolio of Western and Chinese medicines.</font></div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Consolidation and Basis of Presentation </font>&#8211; The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and are expressed in United States dollars. The accompanying consolidated financial statements include the accounts and operations of the Company and its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in the consolidation.</font></div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Helpson&#8217;s functional currency is the Chinese Renminbi. Helpson&#8217;s revenue and expenses are translated into United States dollars at the average exchange rate for the period. Assets and liabilities are translated at the exchange rate as of the end of the reporting period. Gains or losses from translating Helpson&#8217;s financial statements are included in accumulated other comprehensive income, which is a component of stockholders&#8217; equity. Gains and losses arising from transactions denominated in a currency other than the functional currency of the entity that is party to the transaction are included in the results of operations.</font></div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Accounting Estimates </font><font style="DISPLAY: inline; FONT-WEIGHT: bold">- </font>The methodology used to prepare for the Company&#8217;s financial statements is in conformity with the accounting principles generally accepted in the United States of America, which requires the management of the Company (&#8220;Management&#8221;) to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Therefore, actual results could differ from those estimates.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Cash and Cash Equivalents </font>&#8211; Cash and cash equivalents include interest bearing and non-interest bearing bank deposits, money market accounts, and short-term banker&#8217;s acceptances purchased with maturities of three months or less.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold"><font style="FONT-STYLE: normal; DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CHINA PHARMA HOLDINGS, INC.</font></font></font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Trade Accounts Receivable and Allowance for Doubtful Accounts &#8211; </font>Trade accounts receivables are carried at the original invoiced amounts less an allowance for doubtful accounts. The allowances for doubtful accounts are calculated based on a detailed review of certain individual customer accounts and an estimation of the overall economic conditions affecting the Company's customer base. The Company reviews a customer's credit history before extending credit to the customer. If the financial condition of its customers were to deteriorate, resulting in an impairment of their ability to make payments, additions to the allowance would be required. A provision is made against accounts receivable to the extent they are considered unlikely to be collected. It is common practice in the PRC for receivables to extend beyond one year. Customer balances outstanding for more than one year are allowed for at a greater rate when calculating the allowance for doubtful accounts. As of December 31, 2014, the Company had trade accounts receivable amounting to $48,569,986 from sales that occurred more than one year from that date, which the Company believes are collectable.</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">During 2014, the Company offered two of its largest customers a discount of 30% for payments for accounts receivable that were older than one year. The amount of the outstanding accounts receivable balance the discount was applied to was approximately $1.8 million. As a result, the Company recognized additional bad debt expense of approximately $0.53 million for the year ended December 31, 2014.&#160;&#160;During 2013, Management negotiated settlement offers with certain customers with approximately $8.0 million in accounts receivable balances that were greater than one (1) year past due. The offers to these customers were comprised of discounts ranging from 15% to 30% of the total past due balance in exchange for payment in full by December 31, 2013. As a result, the Company was able to collect cash of approximately $5.85 million, and recognized additional bad debt expenses for the negotiated discounts of approximately $2.1 million for the year ended December 31, 2013.</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Advances to Suppliers and Advances from Customers</font> &#8211; Common practice in the PRC is to make advances to suppliers for materials and to receive advances from customers for finished products. Advances to suppliers are applied to trade accounts payable when the materials are received. Advances received from customers are applied against trade accounts receivable when finished products are sold.</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Inventory</font> &#8211; Inventory is stated at the lower of cost or net realizable value, computed on an average cost basis. We charge inventory obsolescence expense for inventory allowance to write down our inventory to the lower of cost or estimated market value or to completely write off obsolete or excess inventory. Charges to inventory obsolescence expense totaled $2,250,130 and $9,881,711 for the years ended December 31, 2014 and 2013, respectively. The Company recognized an inventory obsolescence reserve of ($1,093,082) and $6,257,142 for the years ended December 31, 2014 and 2013, respectively.</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Valuation of Long-Lived Assets</font> &#8211; The carrying values of long-lived assets are reviewed for impairment annually or whenever events or changes in circumstances indicate that the carrying values may not be recoverable. When such an event occurs, the Company projects the undiscounted cash flows to be generated from the use of the asset and its eventual disposition over the remaining life of the asset. If projections indicate that the carrying value of an asset will not be recovered, it is reduced by the estimated excess of the carrying value over the projected discounted cash flows estimated to be generated by the asset. For the years ended December 31, 2014 and 2013, the Company evaluated its long-lived assets and determined that no impairment adjustment was necessary.</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Property and Equipment</font> &#8211; Property and equipment are stated at cost. Maintenance and repairs are charged to expenses as incurred and major improvements are capitalized. Gains or losses on sale, trade-in or retirement are included in operations during the period of disposition.</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Revenue Recognition</font> &#8211; Revenue is considered earned when the Company obtains persuasive evidence of an arrangement with the customer, when delivery of the products has occurred, when the sales price is fixed or determinable, and when collectability is reasonably assured. Delivery does not occur until products have been shipped to the customer, the risk of loss has transferred to the customer and customer acceptance has been obtained, customer acceptance provisions have lapsed, or the Company obtains objective evidence that the criteria specified in the customer acceptance provisions have been satisfied. The sales price is not considered to be fixed or determinable until all contingencies related to the sale have been resolved.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CHINA PHARMA HOLDINGS, INC.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Research and Development</font> &#8211; Research and development expenditures are recorded as expenses in the period in which they occur. Research and development expenses were $2,798,557 and $1,683,244 for the years ended December 31, 2014 and 2013, respectively.&#160;</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Retirement Benefit Plans</font> &#8211; The Company is required to make monthly contributions at prescribed rates to various employee retirement benefit plans organized by the provincial governments. The benefit plans of the government assume the retirement benefit obligations of all existing and future retired employees of the Company. The Company contributed $249,921 and $241,384 to retirement benefit plans for the years ended December 31, 2014 and 2013, respectively. Contributions to these plans are charged to expense as incurred.</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 21.6pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Advertising Costs</font> &#8211; Advertising costs are expensed when incurred. The Company did not incur any advertising costs for the years ended December 31, 2014 and 2013.</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Basic and Diluted (Loss) Earnings per Common Share </font><font style="DISPLAY: inline; FONT-WEIGHT: bold">- </font>Basic (loss) earnings per common share is computed by dividing net (loss) income by the weighted-average number of common shares outstanding during the period. Diluted (loss) earnings per share is calculated to give effect to potentially issuable dilutive common shares.</font></div>

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<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">For the Year</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2014</font></div>
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<td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2013</font></div>
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<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Net loss</font></div>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(26,047,375</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(20,008,049</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
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<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Basic weighted-average common shares outstanding</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">43,579,557</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">43,579,557</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
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<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Effect of dilutive securities:</font></div>
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<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
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<td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Warrants</font></div>
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<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Options</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Diluted weighted-average common shares outstanding</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">43,579,557</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">43,579,557</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 4px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Basic loss per share</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(0.60</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(0.46</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 4px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Diluted loss per share</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(0.60</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(0.46</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
</tr></table>
</div>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">There were no potential dilutive common shares outstanding during the years ended December 31, 2014 and 2013, respectively.&#160;</font></div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Credit Risk</font> &#8211; The carrying amount of accounts receivable included in the balance sheet represents the Company's exposure to credit risk in relation to its financial assets. No other financial assets carries a significant exposure to credit risk. The Company performs ongoing credit evaluations of each customer's financial condition. The Company maintains allowances for doubtful accounts and such allowances in the aggregate have not exceeded Management's estimates.</font></div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The Company has its cash in bank deposits primarily at state owned banks located in the PRC. Historically, deposits in PRC banks have been secured due to the state policy of protecting depositors&#8217; interests. The PRC promulgated a new Bankruptcy Law in August 2006, effective June&#160;1, 2007, which contains provisions for the implementation of measures for the bankruptcy of PRC banks. In the event that bankruptcy laws are enacted for banks in the PRC, the Company&#8217;s deposits may be at a higher risk of loss.</font></div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Interest Rate Risk</font> &#8211; The Company is exposed to the risk arising from changing interest rates, which may affect the ability of repayment of existing debts and viability of securing future debt instruments within the PRC.</font></div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>
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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Recent Accounting Pronouncements</font></font></div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In May 2014, the FASB issued ASU 2014-09,&#160;<font style="FONT-STYLE: italic; DISPLAY: inline">"Revenue from Contracts with Customers"</font>&#160;(ASU 2014-09), which contains new accounting literature relating to how and when a company recognizes revenue. Under ASU 2014-09, a company recognizes revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods and services. ASU 2014-09 will be effective for the Company&#8217;s fiscal year beginning January 1, 2017, with early application not permitted. The Company is in the process of determining what impact, if any, the adoption of ASU 2014-09 will have on its financial statements and related disclosures. The standard permits the use of either the full retrospective or modified retrospective transition method. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>

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<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>
</div>

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<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">F - 9</font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
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<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">
<div>
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CHINA PHARMA HOLDINGS, INC.</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">FOR THE YEARS ENDED DECEMBER 31, 2014 AND 2013</font></font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In June 2014, the FASB issued ASU 2014-12,&#160;<font style="FONT-STYLE: italic; DISPLAY: inline">Compensation-Stock Compensation (Topic 718)</font>. The ASU clarifies how entities should treat performance targets that can be achieved after the requisite service period of a share-based payment award. The accounting standard is effective for interim and annual periods beginning December 15, 2015.&#160;&#160;The Company does not anticipate the adoption of ASU 2014-12 will have a material impact on its financial statements and related disclosures.</font></div>

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</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="BACKGROUND-COLOR: #ffffff; DISPLAY: inline">Other accounting standards that have been issued by the FASB or other standards-setting bodies are not expected to have a material effect on the Company&#8217;s financial position, result of operations or cash flows.</font></font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NOTE 2 &#8211; LOSSES FROM NATURAL DISASTER</font></div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><br>
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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">On July 18, 2014, the Company&#8217;s manufacturing facilities and inventory sustained storm damage from a powerful tropical typhoon that hit Haikou on that date. <font style="BACKGROUND-COLOR: #ffffff; DISPLAY: inline">The losses are comprised of $2,016,068 of inventory related costs and $260,451 of facilities damage costs.&#160;&#160;The Company received minor insurance compensation as only the building of new plant was insured and the damage to it was minor.</font></font></div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;The Company assessed whether any asset impairment had occurred as a result of the storm and decided no impairment necessary. In addition, the Company assessed whether the damage caused by the tropical typhoon exposed the Company to environmental remediation liability. Based on the assessment, the Company determined that no such exposure had occurred.</font></div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NOTE 3 &#8211; PRODUCT RECALL</font></div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In March 2013, the China Food and Drug Administration (&#8220;CFDA&#8221;) issued a nationwide notice (the &#8220;CFDA Notice&#8221;) for the cessation of the production, sale and use of Buflomedil effective immediately. The CFDA Notice was a result of its reevaluation on the indications from the recent China and international research materials. The CFDA found that the risks of side effects to the nervous system and the cardiovascular system from Buflomedil have surpassed its clinical treatment benefits. The CFDA Notice was applicable to all the manufacturers and distributers in China who are in the business of the production and sale of Buflomedil-related products.</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Pursuant to the CFDA Notice, the Company ceased the production and sale of Buflomedil-based products and ceased all promotional and marketing activities for Buflomedil-based products. Furthermore, the Company recognized an inventory obsolescence allowance of approximately $3.7 million for Buflomedil-related raw materials and finished goods inventory. This was recorded as inventory obsolescence on the accompanying statement of operations for the year ended December 31, 2013.</font></div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In addition, the Company recalled Buflomedil-based products from the market. The Company authorized the return of its previously sold Buflomedil-related products through April 30, 2013. The loss from the refunds to customers was $27,507 and was recognized as a reduction of revenues for the year ended December 31, 2013. Under CFDA regulatory provisions, the CFDA notice does not impose legal liability to the manufacturers of Buflomedil as long as they act pursuant to the CFDA Notice to cease the production, sale and use of Buflomedil and destroy such finished goods immediately.</font></div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Pursuant to the CFDA Notice, the CFDA revoked all production licenses for Buflomedil-based products. The carrying value of the Company&#8217;s Buflomedil-related intangible assets was zero; therefore, no impairment of the Company&#8217;s intangible assets was necessary.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NOTE 4 &#8211; INVENTORY</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Inventory consisted of the following:</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CHINA PHARMA HOLDINGS, INC.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">FOR THE YEARS ENDED DECEMBER 31, 2014 AND 2013</font></div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div align="center">
<table cellpadding="0" cellspacing="0" width="90%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">December 31,</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">December 31,</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
</tr><tr>
<td valign="bottom" width="76%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2014</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2013</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Raw materials</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">18,819,570</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">28,259,707</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Work in process</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">853,602</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Finished goods</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">3,436,330</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">3,590,937</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">22,255,900</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">32,704,246</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Obsolescence reserve</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(6,934,044</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(8,027,126</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 4px; PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total Inventory</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">15,321,856</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">24,677,120</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr></table>
</div>
</div>
</div>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NOTE 5 - PROPERTY AND EQUIPMENT</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Property and equipment consisted of the following:</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">
<div align="center">
<table cellpadding="0" cellspacing="0" width="90%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">December 31,</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">December 31,</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
</tr><tr>
<td valign="bottom" width="76%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2014</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2013</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Permit of land use</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">458,853</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">460,964</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Building</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">11,279,704</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2,494,623</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Plant, machinery and equipment</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">28,358,694</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">6,671,620</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Motor vehicle</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">150,976</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">151,670</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Office equipment</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">268,521</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">229,210</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Construction in progress</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">5,848</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">25,497,600</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">40,522,596</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">35,505,687</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Less: accumulated depreciation</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(6,640,718</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(5,264,350</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 4px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Property and Equipment, net</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">33,881,878</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">30,241,337</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr></table>
</div>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Construction in progress consists primarily of the construction of a new production facility, the acquisition of related equipment and capitalized interest during the construction period.&#160;Once the building and machinery is in production and the facility is in use, the amount of construction in progress is moved into plant, machinery and equipment and depreciated.&#160;During the year ended December 31, 2014, an aggregate of approximately $25.5 million was reclassified from construction in progress to their respective property and equipment category as the assets were placed in service and depreciation commenced.&#160;A reconciliation of total interest cost incurred to interest expense as recognized in the consolidated statement of operations is as follows:</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">
<div align="center">
<table cellpadding="0" cellspacing="0" width="90%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="6" valign="bottom" width="22%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">For the Year</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td valign="bottom" width="76%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="6" valign="bottom" width="22%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Ended December 31,</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
</tr><tr>
<td valign="bottom" width="76%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2014</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2013</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Total interest cost incurred</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1,244,346</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">583,400</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Interest cost capitalized</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">458,542</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">234,704</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 4px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Interest expense</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">785,804</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">348,696</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr></table>
</div>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Depreciation is computed on a straight-line basis over the estimated useful lives of the assets as follows:</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block">
<div align="center">
<table cellpadding="0" cellspacing="0" width="40%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td valign="top" width="33%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Asset</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="13%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;Life - years</font></div>
</td>
</tr><tr bgcolor="azure">
<td align="left" valign="top" width="33%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Permit of land use</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">40 - 70</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="33%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Building</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">20 - 49</font></div>
</td>
</tr><tr bgcolor="azure">
<td align="left" valign="top" width="33%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Plant, machinery and equipment</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">5 - 10</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="33%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Motor vehicle</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">5 - 10</font></div>
</td>
</tr><tr bgcolor="azure">
<td align="left" valign="top" width="33%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Office equipment</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">3-5</font></div>
</td>
</tr></table>
</div>

<div align="center">&#160;</div>

<div align="center">&#160;</div>

<div id="PGBRK" style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">F - 11</font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>
</div>
</div>

<div>&#160;</div>

<div>
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CHINA PHARMA HOLDINGS, INC.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">FOR THE YEARS ENDED DECEMBER 31, 2014 AND 2013</font></div>
</div>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">&#160;</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Depreciation relating to office equipment was included in general and administrative expenses, while all other depreciation was included in cost of revenue. For the years ended December 31, 2014 and 2013, depreciation expense was $1,399,396 and $846,512, respectively.</font></div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NOTE 6 - INTANGIBLE ASSETS</font></div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Intangible assets represent the cost of medical formulas approved for production by the CFDA. The Company did not obtain CFDA production approval for any medical formula during the year ended December 31, 2014 and 2013 and no costs were reclassified from advances to intangible assets in 2014 and 2013, respectively.</font></div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Approved medical formulas are amortized from the date CFDA approval is obtained over their individually identifiable estimated useful life, which range from ten to thirteen years.&#160;&#160;It is at least reasonably possible that a change in the estimated useful lives of the medical formulas could occur in the near term due to changes in the demand for the drugs and medicines produced from these medical formulas. Amortization expense relating to intangible assets was $386,440 and $766,318 for the years ended December 31, 2014 and 2013, respectively, and was included in the general and administrative expenses. Medical formulas typically do not have a residual value at the end of their amortization period.</font></div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The Company evaluates each approved medical formula for impairment at the date of CFDA approval, when indications of impairment are present and at the date of each financial statement. The Company&#8217;s evaluation is based on an estimated undiscounted net cash flow model, considering currently available market data for the related drug and the Company&#8217;s estimated market share. If the carrying value of the medical formula exceeds the estimated future net cash flows, an impairment loss is recognized for the excess of the carrying value over the fair value of the medical formula, which is determined by the estimated discounted future net cash flows. No impairment losses were recognized during the years ended December 31, 2014 and 2013, respectively.</font></div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Intangible assets consisted solely of CFDA approved medical formulas as follows:</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">
<div align="center">
<table cellpadding="0" cellspacing="0" width="80%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td valign="bottom" width="70%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">December 31,</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">December 31,</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
</tr><tr>
<td valign="bottom" width="70%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2014</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2013</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="70%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Gross carrying amount</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">5,499,494</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">5,524,785</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="70%" style="PADDING-BOTTOM: 2px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Accumulated amortization</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(4,182,273</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(3,812,992</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="70%" style="PADDING-BOTTOM: 4px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Net carrying amount</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1,317,221</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1,711,793</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr></table>
</div>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The estimated aggregate annual amortization expense for each of the next five years and thereafter is as follows:</font></div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div align="center">
<table cellpadding="0" cellspacing="0" width="30%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td valign="top" width="8%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Year</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;Amount</font></div>
</td>
</tr><tr bgcolor="azure">
<td valign="top" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2015</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;321,753</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="top" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2016</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;300,191</font></div>
</td>
</tr><tr bgcolor="azure">
<td valign="top" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2017</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;258,094</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="top" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2018</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;137,930</font></div>
</td>
</tr><tr bgcolor="azure">
<td valign="top" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2019</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;64,755</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="top" width="8%" style="PADDING-BOTTOM: 2px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Thereafter</font></div>
</td>
<td valign="top" width="2%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;234,498</font></div>
</td>
</tr><tr bgcolor="azure">
<td valign="top" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 4px double">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,317,221</font></div>
</td>
</tr></table>
</div>
</div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NOTE 7 &#8211; ADVANCES FOR PURCHASES OF INTANGIBLE ASSETS</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In order to expand the number of medicines the Company manufactured and marketed, it has entered into contracts with independent laboratories and others for the purchase of medical formulas. Although CFDA approval had not been obtained for these medical formulas at the dates of the respective contracts, the objective of the contracts is for the Company to purchase CFDA-approved medical formulas once the CFDA approval process is completed. The Company received the titles to two patents that relate to medical formulas currently in the CFDA approval process for the year end December 31, 2013. These patents have not expired.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CHINA PHARMA HOLDINGS, INC.</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Prior to entering into contracts with the Company, laboratories typically are required to complete all&#160;&#160;research and development to determine the content of the medical formula and the method to produce the generic medicine. The application to the CFDA for production approval must be made by the production facility that will produce the related product. As a result, a contract typically provides that the Company buys the medical formula from the laboratory and the laboratory is required to assist the Company in applying for and obtaining the production approval from the CFDA.</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">A typical CFDA approval process for the production of a generic medical product involves a number of steps that generally require three to five years to complete. If the medical formula is purchased at the point when the generic medical product receives the CFDA&#8217;s approval for a clinical study, which is very typical for the Company, the clinical study that follows will usually take from one and a half to three years to complete. After completing the clinical study, the results are submitted to the CFDA and a production approval application is filed with the CFDA. In most cases, it will take between eight to eighteen months to prepare and submit the production approval application and obtain CFDA approval. Upon approving the generic medical product, the CFDA issues a production certificate and the Company can commence the production and sales of the generic medical product. As a result of this process, CFDA approval is expected to be received in approximately two to five years from the date&#160;&#160;the Company signs the medical formula contracts.</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Under the terms of the contracts, the laboratories are required to assist the Company in obtaining production approval for the medical formulas from the CFDA. Management monitors the status of each medical formula on a regular basis in order to assess whether the laboratories are performing adequately under the contracts. If a medical product is not approved by the CFDA, as evidenced by their issuance of a denial letter, or if the laboratory breaches the contract, the laboratory is required under the contract to provide a refund to the Company of the full amount of the payments made to the laboratory for that formula, or the Company can require the application of those payments to another medical formula with the same laboratory. As a result of the refund right, the Company is ultimately purchasing an approved medical product. Accordingly, payments made prior to the issuance of production approval by the CFDA are recorded as advances for purchases of intangible assets.</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">To date, no formula has failed to receive CFDA production approval nor has the Company been informed or become aware of any formula that may fail to receive such approval. However, there is no assurance that the medical products will receive production approval and if the Company does not receive such approval, it will enforce its contractual rights to receive the refund from the laboratory or have the payments applied to another medical formula with the same laboratory.</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">As of December 31, 2014 and 2013, the Company was obligated to pay laboratories and others approximately $4,551,000 and $5,466,000, respectively, upon the completion of the various phases of contracts to obtain CFDA production approval of medical formulas.</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NOTE 8 &#8211; RELATED PARTY TRANSACTIONS</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">A member of the Company&#8217;s board of directors had previously advanced the Company an aggregate amount of $1,354,567 as of December 31, 2014 and 2013 which are recorded as other payables &#8211; related parties on the accompanying consolidated balance sheets. The advances bear interest at a rate of 1.0% per year.&#160;&#160;Total interest expense of $13,546 was recognized for each of the years ended December 31, 2014 and 2013.</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NOTE 9 &#8211; NOTES PAYABLE</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">On October 30, 2012, the Company entered into a revolving line of credit with a bank in the amount of RMB 30,000,000.&#160;The related note payable bore interest at an annual rate of 6.90% (based upon 115% of the PRC government&#8217;s current short term rate of 6.00%). Advances on the line of credit were due one year from the date of the advance and were collateralized by certain land use rights, buildings and accounts receivable. On November 1, 2013 the Company entered into a new revolving line of credit for the same amount with the same bank.&#160;&#160;Advances on the line of credit are due one year from the date of the advance and are collateralized by certain land use rights, buildings and accounts receivable and bear interest at an annual rate of 6.6% (based upon 110% of the PRC government&#8217;s current short term rate of 6.00%).&#160;&#160;In addition, the Company&#8217;s Chief Executive Officer and Chair of the board of directors personally guaranteed the new line of credit.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CHINA PHARMA HOLDINGS, INC.</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">FOR THE YEARS ENDED DECEMBER 31, 2014 AND 2013</font></font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In November 2014, the Company entered into a new line of credit with the same bank on identical terms.&#160;&#160;The amounts advanced under the line of credit are due November 24, 2015. Advances on the line of credit are due one year from the date of the advance and are collateralized by certain land use rights, buildings and accounts receivable and bear interest at an annual rate of 6.16% (based upon 110% of the PRC government&#8217;s current short term rate of 5.6%). In addition, the Company&#8217;s Chief Executive Officer and Chair of the board of directors personally guaranteed the new line of credit.</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The outstanding balance due under the revolving line of credit was RMB 30,000,000 as of December 31, 2014 and 2013 ($4,887,187 as of December 31, 2014 and $4,909,662 as of December 31, 2013).&#160;&#160;The Company has no additional amounts available to it under this line of credit.&#160;&#160;This amount has been classified as short-term notes payable in the accompanying consolidated balance sheets as of December 31, 2014 and 2013.</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Fair Value of</font> <font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Notes Payable</font> &#8211; Based on the borrowing rates currently available to the Company for bank loans with similar terms and maturities, the carrying amounts of notes payable outstanding as of December 31, 2014 and 2013 approximated their fair value because of the immediate or short-term maturity of these financial instruments and because the underlying instruments bear interest rates that approximated current market rates.</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NOTE 10 &#8211; CONSTRUCTION LOAN FACILITY</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The Company obtained a construction loan facility in the amount of RMB 80,000,000 (approximately $13.0 and $12.5 million as of December 31, 2014 and 2013, respectively) from a construction loan facility dated June 21, 2013. The loan facility is for an eight-year term, which commenced on July 11, 2013, the initial draw-down date. The total loan facility amount is RMB 80,000,000 (approximately $13 million) and is from the same bank that currently provides the line of credit as discussed in Note 9.&#160;&#160;The proceeds of the loan were used for and are collateralized by the construction of the Company&#8217;s new production facility and the included production line equipments and machinery. The loan currently bears interest at 7.205%, based upon 110% of the PRC government&#8217;s eight-year term rate effective on the actual draw-down date, subject to annual adjustments based on 110% of the floating rate for the same type of loan on the anniversary from the draw-down date and its subsequent anniversary dates.&#160;&#160;The loan requires interest only payments for the first two years. Beginning July 11, 2015, the balance of the principal is due in annual installments over the next six years through July 11, 2021. As of December 31, 2014, the Company had no additional amounts available to it under this loan facility.</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Principal payments required for the next five years as of December 31, 2014 are as follows:</font></div>

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<table cellpadding="0" cellspacing="0" width="50%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td valign="bottom" width="82%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Year</font></div>
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<td colspan="2" valign="bottom" width="16%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Amount</font></div>
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<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="82%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2015</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="15%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1,629,062</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="82%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2016</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="15%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1,629,062</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="82%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2017</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="15%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2,443,594</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="82%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2018</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="15%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2,443,594</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="82%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2019</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="15%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2,443,594</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="82%" style="PADDING-BOTTOM: 2px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Thereafter</font></div>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="15%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2,443,594</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td valign="bottom" width="82%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="15%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">13,032,500</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr></table>
</div>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Fair Value of</font> <font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Construction Loan Facility</font> &#8211; Based on the borrowing rates currently available to the Company for bank loans with similar terms and maturities, the carrying amounts of the construction loan facility outstanding as of December 31, 2014 approximated its fair value because the underlying instrument bears an interest rate that approximated current market rates.&#160;</font></div>

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</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NOTE 11 - INCOME TAXES</font></div>

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</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Deferred income tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax laws or rates is recognized in income in the period that includes the enactment date.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>

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<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">F - 14</font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
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<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>
</div>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">
<div>
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CHINA PHARMA HOLDINGS, INC.</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">FOR THE YEARS ENDED DECEMBER 31, 2014 AND 2013</font></font></div>
</div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Undistributed earnings of Helpson, the Company&#8217;s foreign subsidiary, since its acquisition, amounted to approximately $68.3 million as of December 31, 2014. Those earnings, as well as the investment in Helpson of approximately $23.3 million, are considered to be indefinitely reinvested and, accordingly, no U.S. federal or state income taxes have been provided thereon. Upon distribution of those earnings in the form of dividends or otherwise, the Company would be subject to U.S. federal and state income taxes (net of an adjustment for foreign tax credits) and withholding taxes payable to the PRC. Determination of the amount of unrecognized deferred U.S. income tax liability is not practical because of the complexities associated with its hypothetical calculation; however, unrecognized foreign tax credits may be available to reduce a portion of the U.S. tax liability.</font></div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Liabilities are established for uncertain tax positions expected to be taken in income tax return when such positions are judged to meet the &#8220;more-likely-than-not&#8221; threshold based on the technical merits of the positions. Estimated interest and penalties related to uncertain tax positions are included as a component of other expenses. Through December 31, 2014, the Company has not identified any uncertain tax positions that it has taken. U.S. income tax returns for the years ended December 31, 2011 through December 31, 2014 and the Chinese income tax return for the year ended December 31, 2014 are open for possible examination.</font></div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">On March 16, 2007, the National People&#8217;s Congress of China passed the Enterprise Income Tax Law (EIT Law) and on December 6, 2007, the State Council of China issued the Implementation Regulations for the EIT Law which took effect on January&#160;1, 2008. The EIT Law and Implementation Regulations Rules impose a unified EIT of 25% on all domestic-invested enterprises and Foreign Invested Entities, or FIEs, unless they qualify under certain limited exceptions.</font></div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The Company is located in a special region, which had a 15% corporate income tax rate before the new EIT Law. The new EIT Law abolished the preferential corporate income tax rate in the special region. The Company transitioned to the new 25% tax rate over a five year period which began on January 1, 2008. During 2010, the Company applied for and received a favorable tax rate of 15% for fiscal 2011 through 2013 due to its status in the PRC as a high technology enterprise. In 2013, the Company again applied for and received the same favorable tax rate for 2014 to 2016.&#160;&#160;Under the current tax law in the PRC, the Company is and will be subject to the following enterprise income tax rates:</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">
<div align="center">
<table cellpadding="0" cellspacing="0" width="30%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td valign="top" width="13%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Enterprise Income </font></div>
</td>
</tr><tr>
<td valign="top" width="13%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Year</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="15%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Tax Rate</font></font></td>
</tr><tr bgcolor="azure">
<td valign="top" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2013</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">15%</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="top" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2014</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">15%</font></div>
</td>
</tr><tr bgcolor="azure">
<td valign="top" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2015</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">15%</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="top" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2016</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">15%</font></div>
</td>
</tr><tr bgcolor="azure">
<td valign="top" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2017</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">25%</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="top" width="13%" style="TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Thereafter</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">25%</font></div>
</td>
</tr></table>
</div>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The provision for income taxes consisted of the following:</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
<div align="left">
<div>&#160;</div>

<div align="center">
<table cellpadding="0" cellspacing="0" width="90%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td valign="bottom" width="76%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="6" valign="bottom" width="22%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Year Ended December 31,</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
</tr><tr>
<td valign="bottom" width="76%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2014</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2013</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Current</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Deferred</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">77,042</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1,061,413</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 4px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total income tax expense (benefit)</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">77,042</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1,061,413</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr></table>
</div>
</div>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 21.6pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Following is a reconciliation of income taxes calculated at the federal statutory rates to the provision for income taxes:</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 21.6pt" align="left">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 21.6pt" align="left">&#160;</div>

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<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">F - 15</font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>
</div>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">
<div>
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CHINA PHARMA HOLDINGS, INC.</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">FOR THE YEARS ENDED DECEMBER 31, 2014 AND 2013</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>
</div>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160; </font></div>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block">
<div align="center">
<table cellpadding="0" cellspacing="0" width="90%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td valign="bottom" width="76%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="6" valign="bottom" width="22%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Years Ended December 31,</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
</tr><tr>
<td valign="bottom" width="76%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2014</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2013</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(Benefit) tax at statutory rate of 25%</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(6,511,844</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(4,736,660</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Stock based compensation from current and prior years</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">8,534</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Effect of tax holiday</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2,563,701</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1,834,517</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Other, primarily the difference in U.S. tax rates</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">7,815</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Change in valuation allowance</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">4,017,370</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">3,955,022</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 4px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Income tax expense</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">77,042</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1,061,413</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr></table>
</div>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The effect of the tax holiday amounted to a change in the tax expense (benefit) of $2,559,466 and $1,834,517 for the years ended December 31, 2014 and 2013, which was equivalent to basic and diluted earnings per share of ($0.09) and ($0.04) per share for the years ended December 31, 2014 and 2013, respectively. The temporary differences which give rise to the deferred income tax assets and liability are as follows:</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">
<div align="center">
<table cellpadding="0" cellspacing="0" width="90%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td valign="bottom" width="76%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="6" valign="bottom" width="22%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">December 31,</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td valign="bottom" width="76%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2014</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2013</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
</tr><tr>
<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Deferred income tax assets:</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="2" valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="2" valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Allowance for doubtful trade receivables</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">5,002,516</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1,995,243</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Allowance for doubtful other receivables</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">9,049</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">6,460</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Inventory obsolescence reserve</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1,040,107</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1,501,687</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Expenses not deductible in current year</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">31,000</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">31,143</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">PRC net operating loss carry forward</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1,688,417</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">328,643</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">U.S. net operating loss carry forward</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1,181,679</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1,052,784</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Total deferred income tax assets</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">8,952,768</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">4,915,960</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Valuation allowance</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(8,952,768</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(4,915,960</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 4px; PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Net deferred income tax asset</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="76%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Deferred income tax liability:</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 4px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Intangible assets</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">252,707</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">176,414</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr></table>
</div>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">As of December 31, 2014, the Company had net operating loss carryforwards for PRC tax purposes of approximately $11.3 million which are available to offset any future taxable income through 2019. The Company also has net operating losses for United States federal income tax purposes of approximately $3.5 million which are available to offset future taxable income, if any, through 2034.</font></div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In assessing the realizability of deferred tax assets, Management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized.&#160;&#160;The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those differences become deductible or tax loss carry forwards are utilized.&#160;&#160;Management considers projected future taxable income and tax planning strategies in making this assessment.&#160;&#160;Based upon an assessment of the level of historical taxable income and projections for future taxable income over the periods on which the deferred tax assets are deductible or can be utilized, Management believes it is not likely for the Company to realize all benefits of the deferred tax assets as of December 31, 2014 and 2013.&#160;&#160;Therefore, the Company provided for a valuation allowance against its deferred tax assets of $8,952,768 and $4,915,960 as of December 31, 2014 and 2013, respectively.</font></div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The Company also incurred various other taxes, comprised primarily of business taxes, value-added taxes, urban construction taxes, education surcharges and others. Any unpaid amounts are reflected on the balance sheets as accrued taxes payable.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>

<div id="PGBRK" style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">F - 16</font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>
</div>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CHINA PHARMA HOLDINGS, INC.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">FOR THE YEARS ENDED DECEMBER 31, 2014 AND 2013</font></div>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NOTE 12 &#8211; FAIR VALUE MEASUREMENTS</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. To measure fair value, a hierarchy has been established which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs. This hierarchy uses three levels of inputs to measure the fair value of assets and liabilities as follows: Level 1 &#8211; Quoted prices in active markets for identical assets or liabilities. Level 2 &#8211; Observable inputs other than Level 1 including quoted prices for similar assets or liabilities, quoted prices in less active markets, or other observable inputs that can be corroborated by observable market data. Level 3 &#8211; Unobservable inputs supported by little or no market activity for financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation.</font></div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The Company uses fair value to measure the derivative warrant liability on a recurring basis because fair value is the primary measure for accounting. The Company also uses fair value to measure the value of the banker&#8217;s acceptance notes it holds.&#160;&#160;The Company values its derivative warrants using a valuation method explained above.&#160;&#160;The banker&#8217;s acceptance notes are recorded at cost which approximates fair value.&#160;&#160;The Company held the following assets and liabilities recorded at fair value as of December 31, 2014 and 2013:</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">
<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td valign="bottom" width="40%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="2" valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="10" valign="bottom" width="43%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Fair Value Measurements at</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td valign="bottom" width="40%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="2" valign="bottom" width="13%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="10" valign="bottom" width="43%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Reporting Date Using</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td align="left" valign="bottom" width="40%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Description</font></div>
</td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">December 31, 2014</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Level 1</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Level 2</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Level 3</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="40%" style="PADDING-BOTTOM: 2px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Banker's acceptance notes</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">458,233</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">458,233</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td align="left" valign="bottom" width="40%" style="PADDING-BOTTOM: 4px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Total</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">458,233</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">458,233</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td valign="bottom" width="40%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td valign="bottom" width="40%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="10" valign="bottom" width="31%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Fair Value Measurements at</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td valign="bottom" width="40%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="10" valign="bottom" width="31%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Reporting Date Using</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td align="left" valign="bottom" width="40%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Description</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">December 31, 2013</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Level 1</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Level 2</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Level 3</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
</tr><tr bgcolor="azure">
<td align="left" valign="bottom" width="40%" style="PADDING-BOTTOM: 2px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Banker's acceptance notes</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">336,003</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">336,003</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td align="left" valign="bottom" width="40%" style="PADDING-BOTTOM: 4px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Total</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">336,003</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">336,003</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr></table>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NOTE 13 - STOCKHOLDERS' EQUITY</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The Company is authorized to issue 95,000,000 shares of common stock, $0.001 par value, and 5,000,000 shares of preferred stock, $0.001 par value. The preferred stock may be issued in series with such designations, preferences, stated values, rights, qualifications or limitations as determined solely by the Company&#8217;s board of directors.</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Warrants</font></font></div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><br>
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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">As of December 31, 2012, the Company had warrants outstanding and exercisable to purchase an aggregate of 150,000 shares of Company's common stock at exercise prices ranging from $3.00 to $3.80 per share, which expired on May 16, 2013.As of December 31, 2014 and 2013, the Company had no warrants outstanding.&#160;</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Employee Stock Options</font></font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">2010 Incentive Plan</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">On November 12, 2010, the Company&#8217;s Board of Directors adopted the Company&#8217;s 2010 Incentive Plan (the &#8220;Plan&#8221;), which was then approved by stockholders on December 22, 2010. The Plan gave the Company the ability to grant stock options, restricted stock, stock appreciation rights and performance units to its employees, directors and consultants, or those who will become employees, directors and consultants of the Company and/or its subsidiaries. The Plan currently allows for equity awards of up to 4,000,000 shares of common stock. Through December 31, 2014, there were 175,000 shares of restricted stock granted and outstanding under the Plan.&#160; No options were outstanding as of December 31, 2014 under the Plan.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CHINA PHARMA HOLDINGS, INC.</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">FOR THE YEARS ENDED DECEMBER 31, 2014 AND 2013</font></font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">There were no securities issued from the Plan during each of the year ended December 31, 2014 and 2013.&#160;&#160;Options to purchase 25,000 shares of common stock at an exercise price of $2.54 per share were forfeited during 2013.</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The Company recognized no compensation expense related to the awards of common shares and the grants and modifications of stock options during each of the years ended December 31, 2014 and 2013.</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The fair value of each option award is estimated on the date of grant using the Black-Scholes Option Pricing Model. Expected volatility is based on the historical volatility of the Company&#8217;s common stock prices. The Company uses historical data to estimate employee termination rates. The expected term of options granted is determined by the simplified method, which is one-half of the original contractual term. The simplified method is used due to the lack of historical share option exercise data to provide a reasonable basis upon which to estimate expected term. The risk-free rate for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant.</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">As of December 31, 2014, there was no remaining unrecognized compensation expense related to stock options or restricted stock grants.</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NOTE 14 &#8211; COMMITMENTS AND CONTINGENCIES</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Economic environment </font><font style="DISPLAY: inline; FONT-WEIGHT: bold">- </font>Substantially all of the Company's operations are conducted in the PRC, and therefore the Company is subject to special considerations and significant risks not typically associated with companies operating in the United States of America. These risks include, among others, the political, economic and legal environments and fluctuations in the foreign currency exchange rate. The Company's results from operations may be adversely affected by changes in the political and social conditions in the PRC, and by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion and remittance abroad, and rates and methods of taxation, among other things. The unfavorable changes in global macroeconomic factors may also adversely affect the Company&#8217;s operations.</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In addition, all of the Company's revenue is denominated in the PRC's currency of Renminbi (RMB), which must be converted into other currencies before remittance out of the PRC. Both the conversion of RMB into foreign currencies and the remittance of foreign currencies abroad require approval of the PRC government.</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Contractual Commitments &#8211;</font> The Company entered into purchase and construction agreements during the year ended December 31, 2013 in connection with the construction of a new facility and required manufacturing improvements.&#160;&#160;Under these agreements, the Company made payments in the amount of $4,637,671 and $25,474,525 during the years ended December 31, 2014 and 2013, respectively. These payments are classified as property and equipment as of December 31, 2014 and as construction in progress on the accompanying balance sheet as of December 31, 2013.</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NOTE 15 &#8211; CONCENTRATIONS</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">For the year ended December 31, 2014, one customer accounted for 16.2% of sales and one supplier accounted for 26.5% of raw material purchases, one customer accounted for 17.7% of accounts receivable, and three different products accounted for 49%, 12% and 11% of revenue.</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">For the year ended December 31, 2013, no customer accounted for more than 10% of sales and one supplier accounted for 18.7% of raw material purchases, two customers accounted for 14.5% and 11.2% of accounts receivable, and three different products accounted for 35%, 13% and 10% of revenue.&#160;</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Re: Service about being [Job Position] of China Pharma Holdings, Inc.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">[Date/Month/Year]</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Dear [&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;],</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">On behalf of the Board of Directors (the &#8220;Board&#8221;) of China Pharma Holdings, Inc. (the &#8220;Company&#8221;), I am pleased to welcome you to join the Board as [Job Position]. I look forward to working with you. Your starting date will be the date on which the Board approves your engagement and your engagement for this term will end on the date of the next annual shareholders meeting.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Your compensation will consist of the following:</font></div>

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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">A retainer of $[&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;] per year, payable quarterly within [&#160;&#160;] days of the end of the quarter;</font></div>
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<div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">2)&#160;&#160;</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Options to purchase [&#160;&#160;] shares of the Company&#8217;s common stock, par value $0.001 per share, with an exercise price $[&#160;&#160;] per share which is determined by the average stock price of [&#160;&#160;] days before [Date/Month/Year]. The options will vest on the anniversary date from the date the Board approves your appointment. The options granted is under the Company&#8217;s 2010 Long-Term Incentive Plan.</font></div>
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<TYPE>EX-10.4
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<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>4
<FILENAME>cphi10kex231123114.htm
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<div style="TEXT-ALIGN: right">Exhibit 23.1</div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We consent to the incorporation by reference in Registration Statement No. 333-141734 Post-Effective Amendment No. 1 to Form SB-2 on Form S-3 of our report dated March 30, 2015 relating to the consolidated financial statements of China Pharma Holdings, Inc. and subsidiaries as of and for the year ended December 31, 2014 appearing in this Annual Report on Form 10-K of China Pharma Holdings, Inc. for the year ended December 31, 2014.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Salt Lake City, Utah</font></div>

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<TYPE>EX-31.1
<SEQUENCE>5
<FILENAME>cphi10kex311123114.htm
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    <title>cphi10kex311123114.htm</title>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CERTIFICATION OF</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">I, Zhilin Li certify that:</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">1.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">I have reviewed this report on Form 10-K of China Pharma Holdings, Inc.;</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">2.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">3.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">4.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures as of the end of the period covered by this report based on such evaluation; and</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">5.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The registrant&#8217;s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of registrant's board of directors (or persons performing the equivalent function):</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">a) all significant deficiencies and material weaknesses in the design or operation of internal controls over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Date: March 30, 2015</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; TEXT-DECORATION: underline">/s/ Zhilin Li&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Name: Zhilin Li</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Title: Chief Executive Officer</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(principal executive officer)</font></div>
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<DOCUMENT>
<TYPE>EX-31.2
<SEQUENCE>6
<FILENAME>cphi10kex312123114.htm
<TEXT>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Exhibit 31.2</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CERTIFICATION OF</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">PRINCIPAL FINANCIAL OFFICER</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">PURSUANT TO SECTION 302</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">OF THE SARBANES-OXLEY ACT OF 2002</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">I, Zhilin Li, certify that:</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td align="right" valign="top" width="6%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">1.</font></div>
</td>
<td align="left" valign="top" width="77%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">I have reviewed this report on Form 10-K of China Pharma Holdings, Inc.;</font></div>
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</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td align="right" valign="top" width="6%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">2.</font></div>
</td>
<td valign="top" width="77%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td align="right" valign="top" width="6%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">3.</font></div>
</td>
<td valign="top" width="77%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;</font></div>
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</div>

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<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td align="right" valign="top" width="6%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">4.</font></div>
</td>
<td valign="top" width="77%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures as of the end of the period covered by this report based on such evaluation; and</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and</font></div>

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</div>

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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td align="right" valign="top" width="6%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">5.</font></div>
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<td valign="top" width="77%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of registrant's board of directors (or persons performing the equivalent function):</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">a) all significant deficiencies and material weaknesses in the design or operation of internal controls over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.</font></div>

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</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Date: March 30, 2015</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; TEXT-DECORATION: underline">/s/ Zhilin Li&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Name: Zhilin Li</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Title: Interim Chief Financial Officer</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(principal financial officer and principal accounting officer)</font></div>
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<TYPE>EX-32.1
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Exhibit 32.1</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CERTIFICATION PURSUANT TO</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">18 U.S.C. SECTION 1350,</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">AS ADOPTED PURSUANT TO</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002</font></div>

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</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The undersigned hereby certifies, in her capacity as principal executive officer of China Pharma Holdings, Inc. (the &#8220;Company&#8221;), for the purposes of 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to the best of her knowledge:</font></div>

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</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(1) The Company&#8217;s Annual Report on Form 10-K for the fiscal year ended December 31, 2014 (the &#8220;Report&#8221;) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.</font></div>

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</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Dated: March 30, 2015</font></div>

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</div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; TEXT-DECORATION: underline">/s/ Zhilin Li&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Name: Zhilin Li</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">President and Chief Executive Officer</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(principal executive officer)</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; TEXT-DECORATION: underline">/s/ Zhilin Li&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Name: Zhilin Li</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Title: Interim Chief Financial Officer</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(principal financial officer and principal accounting officer)</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">This certification accompanies each Report pursuant to &#167; 906 of the Sarbanes-Oxley Act of 2002 and shall not, except to the extent required by the Sarbanes-Oxley Act of 2002, be deemed filed by the Company for purposes of &#167;18 of the Securities Exchange Act of 1934, as amended.</font></div>

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</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.</font></div>
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end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.INS
<SEQUENCE>13
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<TEXT>
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	<fil:CashAndCashEquivalentsAtEndOfPeriod decimals='INF' contextRef='Y13' unitRef='USD'>5993139</fil:CashAndCashEquivalentsAtEndOfPeriod>
	<us-gaap:InterestPaid decimals='INF' contextRef='Y14' unitRef='USD'>1230800</us-gaap:InterestPaid>
	<us-gaap:InterestPaid decimals='INF' contextRef='Y13' unitRef='USD'>569855</us-gaap:InterestPaid>
	<us-gaap:IncomeTaxesPaidNet decimals='INF' contextRef='Y14' unitRef='USD'>0</us-gaap:IncomeTaxesPaidNet>
	<us-gaap:IncomeTaxesPaidNet decimals='INF' contextRef='Y13' unitRef='USD'>2481164</us-gaap:IncomeTaxesPaidNet>
	<fil:AccountsPayableForPurchasesOfPropertyAndEquipment decimals='INF' contextRef='Y14' unitRef='USD'>46780</fil:AccountsPayableForPurchasesOfPropertyAndEquipment>
	<fil:AccountsPayableForPurchasesOfPropertyAndEquipment decimals='INF' contextRef='Y13' unitRef='USD'>144243</fil:AccountsPayableForPurchasesOfPropertyAndEquipment>
	<fil:AccountsReceivableCollectedWithBankerSAcceptances decimals='INF' contextRef='Y14' unitRef='USD'>2777579</fil:AccountsReceivableCollectedWithBankerSAcceptances>
	<fil:AccountsReceivableCollectedWithBankerSAcceptances decimals='INF' contextRef='Y13' unitRef='USD'>8317045</fil:AccountsReceivableCollectedWithBankerSAcceptances>
	<fil:InventoryPurchasedWithBankerSAcceptances decimals='INF' contextRef='Y14' unitRef='USD'>2489698</fil:InventoryPurchasedWithBankerSAcceptances>
	<fil:InventoryPurchasedWithBankerSAcceptances decimals='INF' contextRef='Y13' unitRef='USD'>4626165</fil:InventoryPurchasedWithBankerSAcceptances>
	<fil:AdvancesForPurchasesOfEquipmentPaidWithBankerSAcceptances decimals='INF' contextRef='Y14' unitRef='USD'>0</fil:AdvancesForPurchasesOfEquipmentPaidWithBankerSAcceptances>
	<fil:AdvancesForPurchasesOfEquipmentPaidWithBankerSAcceptances decimals='INF' contextRef='Y13' unitRef='USD'>2564790</fil:AdvancesForPurchasesOfEquipmentPaidWithBankerSAcceptances>
	<fil:AdvancesForPurchasesOfIntangiblesPaidWithBankerSAcceptances decimals='INF' contextRef='Y14' unitRef='USD'>164208</fil:AdvancesForPurchasesOfIntangiblesPaidWithBankerSAcceptances>
	<fil:AdvancesForPurchasesOfIntangiblesPaidWithBankerSAcceptances decimals='INF' contextRef='Y13' unitRef='USD'>897820</fil:AdvancesForPurchasesOfIntangiblesPaidWithBankerSAcceptances>
	<us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock contextRef='Y14'>&lt;!--egx--&gt;&lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;NOTE 1 &amp;#150; ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;i&gt;&lt;font lang=&quot;EN-US&quot;&gt;Organization and Nature of Operations &amp;#150; &lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;font lang=&quot;EN-US&quot;&gt;China Pharma Holdings, Inc., a Nevada corporation, owns 100% of Onny Investment Limited (Onny), a British Virgin Islands corporation, which owns 100% of Hainan Helpson Medical &amp;amp; Biotechnology Co., Ltd (Helpson), a company organized under the laws of the People&apos;s Republic of China (the PRC). China Pharma Holdings, Inc. and its subsidiaries are referred to herein as the Company.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot; style=&apos;background:white&apos;&gt;On December 31, 2012, China Pharma Holdings, Inc consummated a reincorporation merger for the purpose of changing its state of incorporation from Delaware to Nevada pursuant to the terms and conditions of an Agreement and Plan of Merger dated December 27, 2012.&amp;nbsp;&amp;nbsp;The reincorporation merger was approved by stockholders holding the majority of the Company&amp;#146;s outstanding shares of common stock on December 21, 2012.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;The Foreign Investment Industrial Catalogue&lt;i&gt;&amp;nbsp;&lt;/i&gt;(the &amp;#147;Catalogue&amp;#148;) jointly issued by China&amp;#146;s Ministry of Commerce and the National Development and Reform Commission (the latest version is the 2012 version, effective January 30, 2012) classified various industries/businesses into three different categories: (i) encouraged for foreign investment; (ii) restricted to foreign investment; and (iii) prohibited from foreign investment. For any industry/business not covered by any of these three categories, they will be deemed industries/businesses permitted for foreign investment. A typical foreign investment ownership restriction in the pharmaceutical industry is that a foreign investment enterprise (the &amp;#147;FIE&amp;#148;) shall not have the whole or majority of its equity interests owned by a foreign owner if the FIE establishes more than 30 branch stores and distributes a variety of brands in those franchise stores, which is not the case for the Company&amp;#146;s business.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Helpson manufactures and markets generic and branded pharmaceutical products as well as biochemical products primarily to hospitals and private retailers located throughout the PRC. The Company believes Helpson&amp;#146;s business is not subject to any ownership restrictions prescribed under the Catalogue. Onny acquired 100% of the ownership in Helpson on May 25, 2005 by entering into an Equity Transfer Agreement with Helpson&amp;#146;s three former shareholders. The transaction was approved by the Commercial Bureau of Hainan Province on June 12, 2005 and Helpson received the Certificate of Approval for Establishing of Enterprises with Foreign Investment in the PRC on the same day and its business license evidencing its WFOE (Wholly Foreign Owned Enterprise) status on June 21, 2005.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;The Company has acquired and continues to acquire well-accepted medical formulas to add to its diverse portfolio of Western and Chinese medicines.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;i&gt;&lt;font lang=&quot;EN-US&quot;&gt;Consolidation and Basis of Presentation &lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;#150; The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and are expressed in United States dollars. The accompanying consolidated financial statements include the accounts and operations of the Company and its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in the consolidation.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Helpson&amp;#146;s functional currency is the Chinese Renminbi. Helpson&amp;#146;s revenue and expenses are translated into United States dollars at the average exchange rate for the period. Assets and liabilities are translated at the exchange rate as of the end of the reporting period. Gains or losses from translating Helpson&amp;#146;s financial statements are included in accumulated other comprehensive income, which is a component of stockholders&amp;#146; equity. Gains and losses arising from transactions denominated in a currency other than the functional currency of the entity that is party to the transaction are included in the results of operations.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;i&gt;&lt;font lang=&quot;EN-US&quot;&gt;Accounting Estimates &lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;- &lt;/font&gt;&lt;/b&gt;&lt;font lang=&quot;EN-US&quot;&gt;The methodology used to prepare for the Company&amp;#146;s financial statements is in conformity with the accounting principles generally accepted in the United States of America, which requires the management of the Company (&amp;#147;Management&amp;#148;) to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Therefore, actual results could differ from those estimates.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;i&gt;&lt;font lang=&quot;EN-US&quot;&gt;Cash and Cash Equivalents &lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;#150; Cash and cash equivalents include interest bearing and non-interest bearing bank deposits, money market accounts, and short-term banker&amp;#146;s acceptances purchased with maturities of three months or less.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;i&gt;&lt;font lang=&quot;EN-US&quot;&gt;Trade Accounts Receivable and Allowance for Doubtful Accounts &amp;#150; &lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Trade accounts receivables are carried at the original invoiced amounts less an allowance for doubtful accounts. The allowances for doubtful accounts are calculated based on a detailed review of certain individual customer accounts and an estimation of the overall economic conditions affecting the Company&apos;s customer base. The Company reviews a customer&apos;s credit history before extending credit to the customer. If the financial condition of its customers were to deteriorate, resulting in an impairment of their ability to make payments, additions to the allowance would be required. A provision is made against accounts receivable to the extent they are considered unlikely to be collected. It is common practice in the PRC for receivables to extend beyond one year. Customer balances outstanding for more than one year are allowed for at a greater rate when calculating the allowance for doubtful accounts. As of December 31, 2014, the Company had trade accounts receivable amounting to $48,569,986 from sales that occurred more than one year from that date, which the Company believes are collectable.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;During 2014, the Company offered two of its largest customers a discount of 30% for payments for accounts receivable that were older than one year. The amount of the outstanding accounts receivable balance the discount was applied to was approximately $1.8 million. As a result, the Company recognized additional bad debt expense of approximately $0.53 million for the year ended December 31, 2014.&amp;nbsp;&amp;nbsp;During 2013, Management negotiated settlement offers with certain customers with approximately $8.0 million in accounts receivable balances that were greater than one (1) year past due. The offers to these customers were comprised of discounts ranging from 15% to 30% of the total past due balance in exchange for payment in full by December 31, 2013. As a result, the Company was able to collect cash of approximately $5.85 million, and recognized additional bad debt expenses for the negotiated discounts of approximately $2.1 million for the year ended December 31, 2013.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;i&gt;&lt;font lang=&quot;EN-US&quot;&gt;Advances to Suppliers and Advances from Customers&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;font lang=&quot;EN-US&quot;&gt; &amp;#150; Common practice in the PRC is to make advances to suppliers for materials and to receive advances from customers for finished products. Advances to suppliers are applied to trade accounts payable when the materials are received. Advances received from customers are applied against trade accounts receivable when finished products are sold.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;i&gt;&lt;font lang=&quot;EN-US&quot;&gt;Inventory&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;font lang=&quot;EN-US&quot;&gt; &amp;#150; Inventory is stated at the lower of cost or net realizable value, computed on an average cost basis. We charge inventory obsolescence expense for inventory allowance to write down our inventory to the lower of cost or estimated market value or to completely write off obsolete or excess inventory. Charges to inventory obsolescence expense totaled $2,250,130 and $9,881,711 for the years ended December 31, 2014 and 2013, respectively. The Company recognized an inventory obsolescence reserve of ($1,093,082) and $6,257,142 for the years ended December 31, 2014 and 2013, respectively.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;i&gt;&lt;font lang=&quot;EN-US&quot;&gt;Valuation of Long-Lived Assets&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;font lang=&quot;EN-US&quot;&gt; &amp;#150; The carrying values of long-lived assets are reviewed for impairment annually or whenever events or changes in circumstances indicate that the carrying values may not be recoverable. When such an event occurs, the Company projects the undiscounted cash flows to be generated from the use of the asset and its eventual disposition over the remaining life of the asset. If projections indicate that the carrying value of an asset will not be recovered, it is reduced by the estimated excess of the carrying value over the projected discounted cash flows estimated to be generated by the asset. For the years ended December 31, 2014 and 2013, the Company evaluated its long-lived assets and determined that no impairment adjustment was necessary.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;i&gt;&lt;font lang=&quot;EN-US&quot;&gt;Property and Equipment&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;font lang=&quot;EN-US&quot;&gt; &amp;#150; Property and equipment are stated at cost. Maintenance and repairs are charged to expenses as incurred and major improvements are capitalized. Gains or losses on sale, trade-in or retirement are included in operations during the period of disposition.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;i&gt;&lt;font lang=&quot;EN-US&quot;&gt;Revenue Recognition&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;font lang=&quot;EN-US&quot;&gt; &amp;#150; Revenue is considered earned when the Company obtains persuasive evidence of an arrangement with the customer, when delivery of the products has occurred, when the sales price is fixed or determinable, and when collectability is reasonably assured. Delivery does not occur until products have been shipped to the customer, the risk of loss has transferred to the customer and customer acceptance has been obtained, customer acceptance provisions have lapsed, or the Company obtains objective evidence that the criteria specified in the customer acceptance provisions have been satisfied. The sales price is not considered to be fixed or determinable until all contingencies related to the sale have been resolved.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;i&gt;&lt;font lang=&quot;EN-US&quot;&gt;Cost of Revenues&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;font lang=&quot;EN-US&quot;&gt; &amp;#150; Cost of revenues includes wages, materials, handling charges, and other expenses associated with the manufacture and delivery of products.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;b&gt;&lt;i&gt;Research and Development&lt;/i&gt;&lt;/b&gt; &amp;#150; Research and development expenditures are recorded as expenses in the period in which they occur. Research and development expenses were $2,798,557 and $1,683,244 for the years ended December 31, 2014 and 2013, respectively.&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;i&gt;&lt;font lang=&quot;EN-US&quot;&gt;Retirement Benefit Plans&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;font lang=&quot;EN-US&quot;&gt; &amp;#150; The Company is required to make monthly contributions at prescribed rates to various employee retirement benefit plans organized by the provincial governments. The benefit plans of the government assume the retirement benefit obligations of all existing and future retired employees of the Company. The Company contributed $249,921 and $241,384 to retirement benefit plans for the years ended December 31, 2014 and 2013, respectively. Contributions to these plans are charged to expense as incurred.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;i&gt;&lt;font lang=&quot;EN-US&quot;&gt;Advertising Costs&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;font lang=&quot;EN-US&quot;&gt; &amp;#150; Advertising costs are expensed when incurred. The Company did not incur any advertising costs for the years ended December 31, 2014 and 2013.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;i&gt;&lt;font lang=&quot;EN-US&quot;&gt;Basic and Diluted (Loss) Earnings per Common Share &lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;- &lt;/font&gt;&lt;/b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Basic (loss) earnings per common share is computed by dividing net (loss) income by the weighted-average number of common shares outstanding during the period. Diluted (loss) earnings per share is calculated to give effect to potentially issuable dilutive common shares.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;The following table is a presentation of the numerators and denominators used in the calculation of basic and diluted (loss) earnings per share:&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; width=&quot;100%&quot; style=&apos;width:100%&apos;&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; colspan=&quot;6&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;For the Year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; colspan=&quot;6&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Ended December 31,&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;2014&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;2013&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Net loss&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;(26,047,375&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;(20,008,049&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Basic weighted-average common shares outstanding&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;43,579,557&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;43,579,557&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Effect of dilutive securities:&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt 9pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Warrants&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Options&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Diluted weighted-average common shares outstanding&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;43,579,557&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;43,579,557&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Basic loss per share&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;(0.60&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;(0.46&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Diluted loss per share&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;(0.60&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;(0.46&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;There were no potential dilutive common shares outstanding during the years ended December 31, 2014 and 2013, respectively.&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;i&gt;&lt;font lang=&quot;EN-US&quot;&gt;Credit Risk&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;font lang=&quot;EN-US&quot;&gt; &amp;#150; The carrying amount of accounts receivable included in the balance sheet represents the Company&apos;s exposure to credit risk in relation to its financial assets. No other financial assets carries a significant exposure to credit risk. The Company performs ongoing credit evaluations of each customer&apos;s financial condition. The Company maintains allowances for doubtful accounts and such allowances in the aggregate have not exceeded Management&apos;s estimates.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;The Company has its cash in bank deposits primarily at state owned banks located in the PRC. Historically, deposits in PRC banks have been secured due to the state policy of protecting depositors&amp;#146; interests. The PRC promulgated a new Bankruptcy Law in August 2006, effective June&amp;nbsp;1, 2007, which contains provisions for the implementation of measures for the bankruptcy of PRC banks. In the event that bankruptcy laws are enacted for banks in the PRC, the Company&amp;#146;s deposits may be at a higher risk of loss.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;i&gt;&lt;font lang=&quot;EN-US&quot;&gt;Interest Rate Risk&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;font lang=&quot;EN-US&quot;&gt; &amp;#150; The Company is exposed to the risk arising from changing interest rates, which may affect the ability of repayment of existing debts and viability of securing future debt instruments within the PRC.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;i&gt;&lt;font lang=&quot;EN-US&quot;&gt;Recent Accounting Pronouncements&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;In May 2014, the FASB issued ASU 2014-09,&amp;nbsp;&lt;i&gt;&quot;Revenue from Contracts with Customers&quot;&lt;/i&gt;&amp;nbsp;(ASU 2014-09), which contains new accounting literature relating to how and when a company recognizes revenue. Under ASU 2014-09, a company recognizes revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods and services. ASU 2014-09 will be effective for the Company&amp;#146;s fiscal year beginning January 1, 2017, with early application not permitted. The Company is in the process of determining what impact, if any, the adoption of ASU 2014-09 will have on its financial statements and related disclosures. The standard permits the use of either the full retrospective or modified retrospective transition method. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;In June 2014, the FASB issued ASU 2014-12,&amp;nbsp;&lt;i&gt;Compensation-Stock Compensation (Topic 718)&lt;/i&gt;. The ASU clarifies how entities should treat performance targets that can be achieved after the requisite service period of a share-based payment award. The accounting standard is effective for interim and annual periods beginning December 15, 2015.&amp;nbsp;&amp;nbsp;The Company does not anticipate the adoption of ASU 2014-12 will have a material impact on its financial statements and related disclosures.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot; style=&apos;background:white&apos;&gt;Other accounting standards that have been issued by the FASB or other standards-setting bodies are not expected to have a material effect on the Company&amp;#146;s financial position, result of operations or cash flows.&lt;/font&gt;&lt;/p&gt;</us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock>
	<us-gaap:ProductWarrantyDisclosureTextBlock contextRef='Y14'>&lt;!--egx--&gt;&lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;NOTE 3 &amp;#150; PRODUCT RECALL&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;In March 2013, the China Food and Drug Administration (&amp;#147;CFDA&amp;#148;) issued a nationwide notice (the &amp;#147;CFDA Notice&amp;#148;) for the cessation of the production, sale and use of Buflomedil effective immediately. The CFDA Notice was a result of its reevaluation on the indications from the recent China and international research materials. The CFDA found that the risks of side effects to the nervous system and the cardiovascular system from Buflomedil have surpassed its clinical treatment benefits. The CFDA Notice was applicable to all the manufacturers and distributers in China who are in the business of the production and sale of Buflomedil-related products.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Pursuant to the CFDA Notice, the Company ceased the production and sale of Buflomedil-based products and ceased all promotional and marketing activities for Buflomedil-based products. Furthermore, the Company recognized an inventory obsolescence allowance of approximately $3.7 million for Buflomedil-related raw materials and finished goods inventory. This was recorded as inventory obsolescence on the accompanying statement of operations for the year ended December 31, 2013.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;In addition, the Company recalled Buflomedil-based products from the market. The Company authorized the return of its previously sold Buflomedil-related products through April 30, 2013. The loss from the refunds to customers was $27,507 and was recognized as a reduction of revenues for the year ended December 31, 2013. Under CFDA regulatory provisions, the CFDA notice does not impose legal liability to the manufacturers of Buflomedil as long as they act pursuant to the CFDA Notice to cease the production, sale and use of Buflomedil and destroy such finished goods immediately.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Pursuant to the CFDA Notice, the CFDA revoked all production licenses for Buflomedil-based products. The carrying value of the Company&amp;#146;s Buflomedil-related intangible assets was zero; therefore, no impairment of the Company&amp;#146;s intangible assets was necessary.&lt;/font&gt;&lt;/p&gt;</us-gaap:ProductWarrantyDisclosureTextBlock>
	<us-gaap:InventoryDisclosureTextBlock contextRef='Y14'>&lt;!--egx--&gt;&lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;NOTE 4 &amp;#150; INVENTORY&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Inventory consisted of the following:&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;center&quot;&gt; &lt;table border=&quot;0&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; width=&quot;90%&quot; style=&apos;width:90%&apos;&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;10%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;December 31,&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;10%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;December 31,&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;10%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;2014&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;10%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;2013&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Raw materials&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;18,819,570&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;28,259,707&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Work in process&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;853,602&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Finished goods&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;3,436,330&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;3,590,937&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;22,255,900&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;32,704,246&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Obsolescence reserve&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;(6,934,044&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;(8,027,126&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt 9pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Total Inventory&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;15,321,856&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;24,677,120&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt;</us-gaap:InventoryDisclosureTextBlock>
	<us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock contextRef='Y14'>&lt;!--egx--&gt;&lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;NOTE 5 - PROPERTY AND EQUIPMENT&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Property and equipment consisted of the following:&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;center&quot;&gt; &lt;table border=&quot;0&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; width=&quot;90%&quot; style=&apos;width:90%&apos;&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;10%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;December 31,&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;10%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;December 31,&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;10%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;2014&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;10%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;2013&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Permit of land use&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;458,853&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;460,964&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Building&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;11,279,704&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;2,494,623&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Plant, machinery and equipment&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;28,358,694&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;6,671,620&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Motor vehicle&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;150,976&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;151,670&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Office equipment&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;268,521&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;229,210&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Construction in progress&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;5,848&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;25,497,600&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt 9pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;40,522,596&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;35,505,687&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Less: accumulated depreciation&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;(6,640,718&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;(5,264,350&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Property and Equipment, net&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;33,881,878&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;30,241,337&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Construction in progress consists primarily of the construction of a new production facility, the acquisition of related equipment and capitalized interest during the construction period.&amp;nbsp;Once the building and machinery is in production and the facility is in use, the amount of construction in progress is moved into plant, machinery and equipment and depreciated.&amp;nbsp;During the year ended December 31, 2014, an aggregate of approximately $25.5 million was reclassified from construction in progress to their respective property and equipment category as the assets were placed in service and depreciation commenced.&amp;nbsp;A reconciliation of total interest cost incurred to interest expense as recognized in the consolidated statement of operations is as follows:&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;center&quot;&gt; &lt;table border=&quot;0&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; width=&quot;90%&quot; style=&apos;width:90%&apos;&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;22%&quot; colspan=&quot;6&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:22%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;For the Year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;22%&quot; colspan=&quot;6&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:22%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Ended December 31,&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;10%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;2014&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;10%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;2013&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Total interest cost incurred&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;1,244,346&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;583,400&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Interest cost capitalized&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;458,542&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;234,704&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Interest expense&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;785,804&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;348,696&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Depreciation is computed on a straight-line basis over the estimated useful lives of the assets as follows:&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;center&quot;&gt; &lt;table border=&quot;0&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; width=&quot;40%&quot; style=&apos;width:40%&apos;&gt; &lt;tr&gt; &lt;td valign=&quot;top&quot; width=&quot;33%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:33%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Asset&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;2%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:2%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;13%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;Life - years&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;top&quot; width=&quot;33%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:33%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Permit of land use&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;2%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:2%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;13%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:13%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;40 - 70&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;top&quot; width=&quot;33%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:33%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Building&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;2%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:2%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;13%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:13%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;20 - 49&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;top&quot; width=&quot;33%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:33%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Plant, machinery and equipment&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;2%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:2%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;13%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:13%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;5 - 10&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;top&quot; width=&quot;33%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:33%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Motor vehicle&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;2%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:2%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;13%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:13%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;5 - 10&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;top&quot; width=&quot;33%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:33%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Office equipment&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;2%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:2%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;13%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:13%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;3-5&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Depreciation relating to office equipment was included in general and administrative expenses, while all other depreciation was included in cost of revenue. For the years ended December 31, 2014 and 2013, depreciation expense was $1,399,396 and $846,512, respectively.&lt;/font&gt;&lt;/p&gt;</us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock>
	<us-gaap:IntangibleAssetsDisclosureTextBlock contextRef='Y14'>&lt;!--egx--&gt;&lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;NOTE 6 - INTANGIBLE ASSETS&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Intangible assets represent the cost of medical formulas approved for production by the CFDA. The Company did not obtain CFDA production approval for any medical formula during the year ended December 31, 2014 and 2013 and no costs were reclassified from advances to intangible assets in 2014 and 2013, respectively.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Approved medical formulas are amortized from the date CFDA approval is obtained over their individually identifiable estimated useful life, which range from ten to thirteen years.&amp;nbsp;&amp;nbsp;It is at least reasonably possible that a change in the estimated useful lives of the medical formulas could occur in the near term due to changes in the demand for the drugs and medicines produced from these medical formulas. Amortization expense relating to intangible assets was $386,440 and $766,318 for the years ended December 31, 2014 and 2013, respectively, and was included in the general and administrative expenses. Medical formulas typically do not have a residual value at the end of their amortization period.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;The Company evaluates each approved medical formula for impairment at the date of CFDA approval, when indications of impairment are present and at the date of each financial statement. The Company&amp;#146;s evaluation is based on an estimated undiscounted net cash flow model, considering currently available market data for the related drug and the Company&amp;#146;s estimated market share. If the carrying value of the medical formula exceeds the estimated future net cash flows, an impairment loss is recognized for the excess of the carrying value over the fair value of the medical formula, which is determined by the estimated discounted future net cash flows. No impairment losses were recognized during the years ended December 31, 2014 and 2013, respectively.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Intangible assets consisted solely of CFDA approved medical formulas as follows:&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;center&quot;&gt; &lt;table border=&quot;0&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; width=&quot;80%&quot; style=&apos;width:80%&apos;&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;70%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:70%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;December 31,&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;December 31,&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;70%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:70%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;2014&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;2013&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;70%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:70%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Gross carrying amount&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:12%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;5,499,494&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:12%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;5,524,785&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;70%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:70%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Accumulated amortization&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:12%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;(4,182,273&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:12%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;(3,812,992&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;70%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:70%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Net carrying amount&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:12%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;1,317,221&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:12%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;1,711,793&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;The estimated aggregate annual amortization expense for each of the next five years and thereafter is as follows:&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;center&quot;&gt; &lt;table border=&quot;0&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; width=&quot;30%&quot; style=&apos;width:30%&apos;&gt; &lt;tr&gt; &lt;td valign=&quot;top&quot; width=&quot;8%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:8%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;2%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:2%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;11%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:11%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;Amount&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;top&quot; width=&quot;8%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:8%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;2%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:2%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;11%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:11%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;321,753&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;top&quot; width=&quot;8%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:8%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;2%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:2%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;11%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:11%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;300,191&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;top&quot; width=&quot;8%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:8%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;2%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:2%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;11%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:11%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;258,094&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;top&quot; width=&quot;8%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:8%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;2%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:2%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;11%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:11%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;137,930&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;top&quot; width=&quot;8%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:8%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;2019&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;2%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:2%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;11%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:11%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;64,755&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;top&quot; width=&quot;8%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:8%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Thereafter&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;2%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:2%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;11%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:11%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;234,498&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;top&quot; width=&quot;8%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:8%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;2%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:2%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;11%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:11%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;1,317,221&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;</us-gaap:IntangibleAssetsDisclosureTextBlock>
	<fil:AdvancesForPurchasesOfIntangibleAssetsTextBlock contextRef='Y14'>&lt;!--egx--&gt;&lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;NOTE 7 &amp;#150; ADVANCES FOR PURCHASES OF INTANGIBLE ASSETS&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;In order to expand the number of medicines the Company manufactured and marketed, it has entered into contracts with independent laboratories and others for the purchase of medical formulas. Although CFDA approval had not been obtained for these medical formulas at the dates of the respective contracts, the objective of the contracts is for the Company to purchase CFDA-approved medical formulas once the CFDA approval process is completed. The Company received the titles to two patents that relate to medical formulas currently in the CFDA approval process for the year end December 31, 2013. These patents have not expired.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; &amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Prior to entering into contracts with the Company, laboratories typically are required to complete all&amp;nbsp;&amp;nbsp;research and development to determine the content of the medical formula and the method to produce the generic medicine. The application to the CFDA for production approval must be made by the production facility that will produce the related product. As a result, a contract typically provides that the Company buys the medical formula from the laboratory and the laboratory is required to assist the Company in applying for and obtaining the production approval from the CFDA.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;A typical CFDA approval process for the production of a generic medical product involves a number of steps that generally require three to five years to complete. If the medical formula is purchased at the point when the generic medical product receives the CFDA&amp;#146;s approval for a clinical study, which is very typical for the Company, the clinical study that follows will usually take from one and a half to three years to complete. After completing the clinical study, the results are submitted to the CFDA and a production approval application is filed with the CFDA. In most cases, it will take between eight to eighteen months to prepare and submit the production approval application and obtain CFDA approval. Upon approving the generic medical product, the CFDA issues a production certificate and the Company can commence the production and sales of the generic medical product. As a result of this process, CFDA approval is expected to be received in approximately two to five years from the date&amp;nbsp;&amp;nbsp;the Company signs the medical formula contracts.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Under the terms of the contracts, the laboratories are required to assist the Company in obtaining production approval for the medical formulas from the CFDA. Management monitors the status of each medical formula on a regular basis in order to assess whether the laboratories are performing adequately under the contracts. If a medical product is not approved by the CFDA, as evidenced by their issuance of a denial letter, or if the laboratory breaches the contract, the laboratory is required under the contract to provide a refund to the Company of the full amount of the payments made to the laboratory for that formula, or the Company can require the application of those payments to another medical formula with the same laboratory. As a result of the refund right, the Company is ultimately purchasing an approved medical product. Accordingly, payments made prior to the issuance of production approval by the CFDA are recorded as advances for purchases of intangible assets.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;To date, no formula has failed to receive CFDA production approval nor has the Company been informed or become aware of any formula that may fail to receive such approval. However, there is no assurance that the medical products will receive production approval and if the Company does not receive such approval, it will enforce its contractual rights to receive the refund from the laboratory or have the payments applied to another medical formula with the same laboratory.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;As of December 31, 2014 and 2013, the Company was obligated to pay laboratories and others approximately $4,551,000 and $5,466,000, respectively, upon the completion of the various phases of contracts to obtain CFDA production approval of medical formulas.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt;</fil:AdvancesForPurchasesOfIntangibleAssetsTextBlock>
	<us-gaap:RelatedPartyTransactionsDisclosureTextBlock contextRef='Y14'>&lt;!--egx--&gt;&lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;NOTE 8 &amp;#150; RELATED PARTY TRANSACTIONS&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;A member of the Company&amp;#146;s board of directors had previously advanced the Company an aggregate amount of $1,354,567 as of December 31, 2014 and 2013 which are recorded as other payables &amp;#150; related parties on the accompanying consolidated balance sheets. The advances bear interest at a rate of 1.0% per year.&amp;nbsp;&amp;nbsp;Total interest expense of $13,546 was recognized for each of the years ended December 31, 2014 and 2013.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt;</us-gaap:RelatedPartyTransactionsDisclosureTextBlock>
	<us-gaap:DebtDisclosureTextBlock contextRef='Y14'>&lt;!--egx--&gt;&lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;NOTE 9 &amp;#150; NOTES PAYABLE&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;On October 30, 2012, the Company entered into a revolving line of credit with a bank in the amount of RMB 30,000,000.&amp;nbsp;The related note payable bore interest at an annual rate of 6.90% (based upon 115% of the PRC government&amp;#146;s current short term rate of 6.00%). Advances on the line of credit were due one year from the date of the advance and were collateralized by certain land use rights, buildings and accounts receivable. On November 1, 2013 the Company entered into a new revolving line of credit for the same amount with the same bank.&amp;nbsp;&amp;nbsp;Advances on the line of credit are due one year from the date of the advance and are collateralized by certain land use rights, buildings and accounts receivable and bear interest at an annual rate of 6.6% (based upon 110% of the PRC government&amp;#146;s current short term rate of 6.00%).&amp;nbsp;&amp;nbsp;In addition, the Company&amp;#146;s Chief Executive Officer and Chair of the board of directors personally guaranteed the new line of credit.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;In November 2014, the Company entered into a new line of credit with the same bank on identical terms.&amp;nbsp;&amp;nbsp;The amounts advanced under the line of credit are due November 24, 2015. Advances on the line of credit are due one year from the date of the advance and are collateralized by certain land use rights, buildings and accounts receivable and bear interest at an annual rate of 6.16% (based upon 110% of the PRC government&amp;#146;s current short term rate of 5.6%). In addition, the Company&amp;#146;s Chief Executive Officer and Chair of the board of directors personally guaranteed the new line of credit.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;The outstanding balance due under the revolving line of credit was RMB 30,000,000 as of December 31, 2014 and 2013 ($4,887,187 as of December 31, 2014 and $4,909,662 as of December 31, 2013).&amp;nbsp;&amp;nbsp;The Company has no additional amounts available to it under this line of credit.&amp;nbsp;&amp;nbsp;This amount has been classified as short-term notes payable in the accompanying consolidated balance sheets as of December 31, 2014 and 2013.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;i&gt;&lt;font lang=&quot;EN-US&quot;&gt;Fair Value of&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;font lang=&quot;EN-US&quot;&gt; &lt;b&gt;&lt;i&gt;Notes Payable&lt;/i&gt;&lt;/b&gt; &amp;#150; Based on the borrowing rates currently available to the Company for bank loans with similar terms and maturities, the carrying amounts of notes payable outstanding as of December 31, 2014 and 2013 approximated their fair value because of the immediate or short-term maturity of these financial instruments and because the underlying instruments bear interest rates that approximated current market rates.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt;</us-gaap:DebtDisclosureTextBlock>
	<us-gaap:LongTermDebtTextBlock contextRef='Y14'>&lt;!--egx--&gt;&lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;NOTE 10 &amp;#150; CONSTRUCTION LOAN FACILITY&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;The Company obtained a construction loan facility in the amount of RMB 80,000,000 (approximately $13.0 and $12.5 million as of December 31, 2014 and 2013, respectively) from a construction loan facility dated June 21, 2013. The loan facility is for an eight-year term, which commenced on July 11, 2013, the initial draw-down date. The total loan facility amount is RMB 80,000,000 (approximately $13 million) and is from the same bank that currently provides the line of credit as discussed in Note 9.&amp;nbsp;&amp;nbsp;The proceeds of the loan were used for and are collateralized by the construction of the Company&amp;#146;s new production facility and the included production line equipments and machinery. The loan currently bears interest at 7.205%, based upon 110% of the PRC government&amp;#146;s eight-year term rate effective on the actual draw-down date, subject to annual adjustments based on 110% of the floating rate for the same type of loan on the anniversary from the draw-down date and its subsequent anniversary dates.&amp;nbsp;&amp;nbsp;The loan requires interest only payments for the first two years. Beginning July 11, 2015, the balance of the principal is due in annual installments over the next six years through July 11, 2021. As of December 31, 2014, the Company had no additional amounts available to it under this loan facility.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Principal payments required for the next five years as of December 31, 2014 are as follows:&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;center&quot;&gt; &lt;table border=&quot;0&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; width=&quot;50%&quot; style=&apos;width:50%&apos;&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;82%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:82%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:16%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Amount&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;82%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:82%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;15%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:15%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;1,629,062&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;82%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:82%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;15%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:15%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;1,629,062&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;82%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:82%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;15%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:15%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;2,443,594&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;82%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:82%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;15%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:15%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;2,443,594&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;82%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:82%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;2019&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;15%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:15%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;2,443,594&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;82%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:82%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Thereafter&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;15%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:15%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;2,443,594&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;82%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:82%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;15%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:15%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;13,032,500&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;i&gt;&lt;font lang=&quot;EN-US&quot;&gt;Fair Value of&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;font lang=&quot;EN-US&quot;&gt; &lt;b&gt;&lt;i&gt;Construction Loan Facility&lt;/i&gt;&lt;/b&gt; &amp;#150; Based on the borrowing rates currently available to the Company for bank loans with similar terms and maturities, the carrying amounts of the construction loan facility outstanding as of December 31, 2014 approximated its fair value because the underlying instrument bears an interest rate that approximated current market rates.&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt;</us-gaap:LongTermDebtTextBlock>
	<us-gaap:IncomeTaxDisclosureTextBlock contextRef='Y14'>&lt;!--egx--&gt;&lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;NOTE 11 - INCOME TAXES&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Deferred income tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax laws or rates is recognized in income in the period that includes the enactment date.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Undistributed earnings of Helpson, the Company&amp;#146;s foreign subsidiary, since its acquisition, amounted to approximately $68.3 million as of December 31, 2014. Those earnings, as well as the investment in Helpson of approximately $23.3 million, are considered to be indefinitely reinvested and, accordingly, no U.S. federal or state income taxes have been provided thereon. Upon distribution of those earnings in the form of dividends or otherwise, the Company would be subject to U.S. federal and state income taxes (net of an adjustment for foreign tax credits) and withholding taxes payable to the PRC. Determination of the amount of unrecognized deferred U.S. income tax liability is not practical because of the complexities associated with its hypothetical calculation; however, unrecognized foreign tax credits may be available to reduce a portion of the U.S. tax liability.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Liabilities are established for uncertain tax positions expected to be taken in income tax return when such positions are judged to meet the &amp;#147;more-likely-than-not&amp;#148; threshold based on the technical merits of the positions. Estimated interest and penalties related to uncertain tax positions are included as a component of other expenses. Through December 31, 2014, the Company has not identified any uncertain tax positions that it has taken. U.S. income tax returns for the years ended December 31, 2011 through December 31, 2014 and the Chinese income tax return for the year ended December 31, 2014 are open for possible examination.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;On March 16, 2007, the National People&amp;#146;s Congress of China passed the Enterprise Income Tax Law (EIT Law) and on December 6, 2007, the State Council of China issued the Implementation Regulations for the EIT Law which took effect on January&amp;nbsp;1, 2008. The EIT Law and Implementation Regulations Rules impose a unified EIT of 25% on all domestic-invested enterprises and Foreign Invested Entities, or FIEs, unless they qualify under certain limited exceptions.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;The Company is located in a special region, which had a 15% corporate income tax rate before the new EIT Law. The new EIT Law abolished the preferential corporate income tax rate in the special region. The Company transitioned to the new 25% tax rate over a five year period which began on January 1, 2008. During 2010, the Company applied for and received a favorable tax rate of 15% for fiscal 2011 through 2013 due to its status in the PRC as a high technology enterprise. In 2013, the Company again applied for and received the same favorable tax rate for 2014 to 2016.&amp;nbsp;&amp;nbsp;Under the current tax law in the PRC, the Company is and will be subject to the following enterprise income tax rates:&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;center&quot;&gt; &lt;table border=&quot;0&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; width=&quot;30%&quot; style=&apos;width:30%&apos;&gt; &lt;tr&gt; &lt;td valign=&quot;top&quot; width=&quot;13%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;3%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:3%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;15%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:15%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Enterprise Income &lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;top&quot; width=&quot;13%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;3%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:3%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;15%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:15%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Tax Rate&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;top&quot; width=&quot;13%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:13%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;2013&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;3%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:3%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;15%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:15%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;15%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;top&quot; width=&quot;13%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:13%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;2014&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;3%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:3%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;15%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:15%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;15%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;top&quot; width=&quot;13%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:13%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;3%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:3%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;15%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:15%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;15%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;top&quot; width=&quot;13%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:13%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;3%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:3%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;15%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:15%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;15%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;top&quot; width=&quot;13%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:13%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;3%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:3%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;15%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:15%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;25%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;top&quot; width=&quot;13%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:13%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Thereafter&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;3%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:3%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;15%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:15%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;25%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;The provision for income taxes consisted of the following:&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;center&quot;&gt; &lt;table border=&quot;0&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; width=&quot;90%&quot; style=&apos;width:90%&apos;&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;22%&quot; colspan=&quot;6&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:22%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Year Ended December 31,&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;10%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;2014&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;10%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;2013&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Current&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Deferred&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;77,042&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;1,061,413&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Total income tax expense (benefit)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;77,042&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;1,061,413&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Following is a reconciliation of income taxes calculated at the federal statutory rates to the provision for income taxes:&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;center&quot;&gt; &lt;table border=&quot;0&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; width=&quot;90%&quot; style=&apos;width:90%&apos;&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;22%&quot; colspan=&quot;6&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:22%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Years Ended December 31,&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;10%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;2014&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;10%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;2013&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;(Benefit) tax at statutory rate of 25%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;(6,511,844&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;(4,736,660&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Stock based compensation from current and prior years&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;8,534&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Effect of tax holiday&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;2,563,701&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;1,834,517&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Other, primarily the difference in U.S. tax rates&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;7,815&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Change in valuation allowance&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;4,017,370&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;3,955,022&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Income tax expense&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;77,042&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;1,061,413&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;The effect of the tax holiday amounted to a change in the tax expense (benefit) of $2,559,466 and $1,834,517 for the years ended December 31, 2014 and 2013, which was equivalent to basic and diluted earnings per share of ($0.09) and ($0.04) per share for the years ended December 31, 2014 and 2013, respectively. The temporary differences which give rise to the deferred income tax assets and liability are as follows:&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;center&quot;&gt; &lt;table border=&quot;0&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; width=&quot;90%&quot; style=&apos;width:90%&apos;&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;22%&quot; colspan=&quot;6&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:22%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;December 31,&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;10%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;2014&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;10%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;2013&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Deferred income tax assets:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;10%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;10%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Allowance for doubtful trade receivables&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;5,002,516&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;1,995,243&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Allowance for doubtful other receivables&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;9,049&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;6,460&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Inventory obsolescence reserve&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;1,040,107&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;1,501,687&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Expenses not deductible in current year&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;31,000&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;31,143&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;PRC net operating loss carry forward&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;1,688,417&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;328,643&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;U.S. net operating loss carry forward&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;1,181,679&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;1,052,784&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Total deferred income tax assets&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;8,952,768&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;4,915,960&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Valuation allowance&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;(8,952,768&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;(4,915,960&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt 9pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Net deferred income tax asset&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Deferred income tax liability:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Intangible assets&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;252,707&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;176,414&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;As of December 31, 2014, the Company had net operating loss carryforwards for PRC tax purposes of approximately $11.3 million which are available to offset any future taxable income through 2019. The Company also has net operating losses for United States federal income tax purposes of approximately $3.5 million which are available to offset future taxable income, if any, through 2034.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;In assessing the realizability of deferred tax assets, Management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized.&amp;nbsp;&amp;nbsp;The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those differences become deductible or tax loss carry forwards are utilized.&amp;nbsp;&amp;nbsp;Management considers projected future taxable income and tax planning strategies in making this assessment.&amp;nbsp;&amp;nbsp;Based upon an assessment of the level of historical taxable income and projections for future taxable income over the periods on which the deferred tax assets are deductible or can be utilized, Management believes it is not likely for the Company to realize all benefits of the deferred tax assets as of December 31, 2014 and 2013.&amp;nbsp;&amp;nbsp;Therefore, the Company provided for a valuation allowance against its deferred tax assets of $8,952,768 and $4,915,960 as of December 31, 2014 and 2013, respectively.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;The Company also incurred various other taxes, comprised primarily of business taxes, value-added taxes, urban construction taxes, education surcharges and others. Any unpaid amounts are reflected on the balance sheets as accrued taxes payable.&lt;/font&gt;&lt;/p&gt;</us-gaap:IncomeTaxDisclosureTextBlock>
	<us-gaap:FairValueMeasurementInputsDisclosureTextBlock contextRef='Y14'>&lt;!--egx--&gt;&lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;NOTE 12 &amp;#150; FAIR VALUE MEASUREMENTS&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. To measure fair value, a hierarchy has been established which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs. This hierarchy uses three levels of inputs to measure the fair value of assets and liabilities as follows: Level 1 &amp;#150; Quoted prices in active markets for identical assets or liabilities. Level 2 &amp;#150; Observable inputs other than Level 1 including quoted prices for similar assets or liabilities, quoted prices in less active markets, or other observable inputs that can be corroborated by observable market data. Level 3 &amp;#150; Unobservable inputs supported by little or no market activity for financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;The Company uses fair value to measure the derivative warrant liability on a recurring basis because fair value is the primary measure for accounting. The Company also uses fair value to measure the value of the banker&amp;#146;s acceptance notes it holds.&amp;nbsp;&amp;nbsp;The Company values its derivative warrants using a valuation method explained above.&amp;nbsp;&amp;nbsp;The banker&amp;#146;s acceptance notes are recorded at cost which approximates fair value.&amp;nbsp;&amp;nbsp;The Company held the following assets and liabilities recorded at fair value as of December 31, 2014 and 2013:&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; width=&quot;100%&quot; style=&apos;width:100%&apos;&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;40%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:40%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;43%&quot; colspan=&quot;10&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:43%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Fair Value Measurements at&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;40%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:40%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;43%&quot; colspan=&quot;10&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:43%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Reporting Date Using&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;40%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:40%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Description&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;December 31, 2014&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Level 1&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Level 2&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Level 3&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;40%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:40%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Banker&apos;s acceptance notes&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:12%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;458,233&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:12%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:12%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;458,233&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:12%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;40%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:40%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;458,233&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;458,233&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;40%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:40%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;40%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:40%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;31%&quot; colspan=&quot;10&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:31%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Fair Value Measurements at&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;40%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:40%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;31%&quot; colspan=&quot;10&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:31%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Reporting Date Using&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;40%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:40%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Description&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;December 31, 2013&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Level 1&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Level 2&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Level 3&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;40%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:40%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Banker&apos;s acceptance notes&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:12%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;336,003&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:12%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:12%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;336,003&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:12%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;40%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:40%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;336,003&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;336,003&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</us-gaap:FairValueMeasurementInputsDisclosureTextBlock>
	<us-gaap:StockholdersEquityNoteDisclosureTextBlock contextRef='Y14'>&lt;!--egx--&gt;&lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;NOTE 13 - STOCKHOLDERS&apos; EQUITY&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;The Company is authorized to issue 95,000,000 shares of common stock, $0.001 par value, and 5,000,000 shares of preferred stock, $0.001 par value. The preferred stock may be issued in series with such designations, preferences, stated values, rights, qualifications or limitations as determined solely by the Company&amp;#146;s board of directors.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;u&gt;&lt;font lang=&quot;EN-US&quot;&gt;Warrants&lt;/font&gt;&lt;/u&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;As of December 31, 2012, the Company had warrants outstanding and exercisable to purchase an aggregate of 150,000 shares of Company&apos;s common stock at exercise prices ranging from $3.00 to $3.80 per share, which expired on May 16, 2013.As of December 31, 2014 and 2013, the Company had no warrants outstanding.&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;u&gt;&lt;font lang=&quot;EN-US&quot;&gt;Employee Stock Options&lt;/font&gt;&lt;/u&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;i&gt;&lt;font lang=&quot;EN-US&quot;&gt;2010 Incentive Plan&lt;/font&gt;&lt;/i&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;On November 12, 2010, the Company&amp;#146;s Board of Directors adopted the Company&amp;#146;s 2010 Incentive Plan (the &amp;#147;Plan&amp;#148;), which was then approved by stockholders on December 22, 2010. The Plan gave the Company the ability to grant stock options, restricted stock, stock appreciation rights and performance units to its employees, directors and consultants, or those who will become employees, directors and consultants of the Company and/or its subsidiaries. The Plan currently allows for equity awards of up to 4,000,000 shares of common stock. Through December 31, 2014, there were 175,000 shares of restricted stock granted and outstanding under the Plan.&amp;nbsp; No options were outstanding as of December 31, 2014 under the Plan.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&amp;nbsp;There were no securities issued from the Plan during each of the year ended December 31, 2014 and 2013.&amp;nbsp;&amp;nbsp;Options to purchase 25,000 shares of common stock at an exercise price of $2.54 per share were forfeited during 2013.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;The Company recognized no compensation expense related to the awards of common shares and the grants and modifications of stock options during each of the years ended December 31, 2014 and 2013.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;The fair value of each option award is estimated on the date of grant using the Black-Scholes Option Pricing Model. Expected volatility is based on the historical volatility of the Company&amp;#146;s common stock prices. The Company uses historical data to estimate employee termination rates. The expected term of options granted is determined by the simplified method, which is one-half of the original contractual term. The simplified method is used due to the lack of historical share option exercise data to provide a reasonable basis upon which to estimate expected term. The risk-free rate for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;As of December 31, 2014, there was no remaining unrecognized compensation expense related to stock options or restricted stock grants.&lt;/font&gt;&lt;/p&gt;</us-gaap:StockholdersEquityNoteDisclosureTextBlock>
	<us-gaap:CommitmentsAndContingenciesDisclosureTextBlock contextRef='Y14'>&lt;!--egx--&gt;&lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;NOTE 14 &amp;#150; COMMITMENTS AND CONTINGENCIES&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;i&gt;&lt;font lang=&quot;EN-US&quot;&gt;Economic environment &lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;- &lt;/font&gt;&lt;/b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Substantially all of the Company&apos;s operations are conducted in the PRC, and therefore the Company is subject to special considerations and significant risks not typically associated with companies operating in the United States of America. These risks include, among others, the political, economic and legal environments and fluctuations in the foreign currency exchange rate. The Company&apos;s results from operations may be adversely affected by changes in the political and social conditions in the PRC, and by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion and remittance abroad, and rates and methods of taxation, among other things. The unfavorable changes in global macroeconomic factors may also adversely affect the Company&amp;#146;s operations.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;In addition, all of the Company&apos;s revenue is denominated in the PRC&apos;s currency of Renminbi (RMB), which must be converted into other currencies before remittance out of the PRC. Both the conversion of RMB into foreign currencies and the remittance of foreign currencies abroad require approval of the PRC government.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;i&gt;&lt;font lang=&quot;EN-US&quot;&gt;Contractual Commitments &amp;#150;&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;font lang=&quot;EN-US&quot;&gt; The Company entered into purchase and construction agreements during the year ended December 31, 2013 in connection with the construction of a new facility and required manufacturing improvements.&amp;nbsp;&amp;nbsp;Under these agreements, the Company made payments in the amount of $4,637,671 and $25,474,525 during the years ended December 31, 2014 and 2013, respectively. These payments are classified as property and equipment as of December 31, 2014 and as construction in progress on the accompanying balance sheet as of December 31, 2013.&lt;/font&gt;&lt;/p&gt;</us-gaap:CommitmentsAndContingenciesDisclosureTextBlock>
	<us-gaap:ConcentrationRiskDisclosureTextBlock contextRef='Y14'>&lt;!--egx--&gt;&lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;NOTE 15 &amp;#150; CONCENTRATIONS&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;For the year ended December 31, 2014, one customer accounted for 16.2% of sales and one supplier accounted for 26.5% of raw material purchases, one customer accounted for 17.7% of accounts receivable, and three different products accounted for 49%, 12% and 11% of revenue.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;For the year ended December 31, 2013, no customer accounted for more than 10% of sales and one supplier accounted for 18.7% of raw material purchases, two customers accounted for 14.5% and 11.2% of accounts receivable, and three different products accounted for 35%, 13% and 10% of revenue.&amp;nbsp;&lt;/font&gt;&lt;/p&gt;</us-gaap:ConcentrationRiskDisclosureTextBlock>
	<fil:idr_DisclosureLOSSESFROMNATURALDISASTER contextRef='Y14'>&lt;!--egx--&gt;&lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;NOTE 2 &amp;#150; LOSSES FROM NATURAL DISASTER&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;On July 18, 2014, the Company&amp;#146;s manufacturing facilities and inventory sustained storm damage from a powerful tropical typhoon that hit Haikou on that date. &lt;font style=&apos;background:white&apos;&gt;The losses are comprised of $2,016,068 of inventory related costs and $260,451 of facilities damage costs.&amp;nbsp;&amp;nbsp;The Company received minor insurance compensation as only the building of new plant was insured and the damage to it was minor.&lt;/font&gt;&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;The Company assessed whether any asset impairment had occurred as a result of the storm and decided no impairment necessary. In addition, the Company assessed whether the damage caused by the tropical typhoon exposed the Company to environmental remediation liability. Based on the assessment, the Company determined that no such exposure had occurred.&lt;/font&gt;&lt;/p&gt;</fil:idr_DisclosureLOSSESFROMNATURALDISASTER>
	<us-gaap:NatureOfOperations contextRef='Y14'>&lt;!--egx--&gt;&lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;i&gt;&lt;font lang=&quot;EN-US&quot;&gt;Organization and Nature of Operations &amp;#150; &lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;font lang=&quot;EN-US&quot;&gt;China Pharma Holdings, Inc., a Nevada corporation, owns 100% of Onny Investment Limited (Onny), a British Virgin Islands corporation, which owns 100% of Hainan Helpson Medical &amp;amp; Biotechnology Co., Ltd (Helpson), a company organized under the laws of the People&apos;s Republic of China (the PRC). China Pharma Holdings, Inc. and its subsidiaries are referred to herein as the Company.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot; style=&apos;background:white&apos;&gt;On December 31, 2012, China Pharma Holdings, Inc consummated a reincorporation merger for the purpose of changing its state of incorporation from Delaware to Nevada pursuant to the terms and conditions of an Agreement and Plan of Merger dated December 27, 2012.&amp;nbsp;&amp;nbsp;The reincorporation merger was approved by stockholders holding the majority of the Company&amp;#146;s outstanding shares of common stock on December 21, 2012.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;The Foreign Investment Industrial Catalogue&lt;i&gt;&amp;nbsp;&lt;/i&gt;(the &amp;#147;Catalogue&amp;#148;) jointly issued by China&amp;#146;s Ministry of Commerce and the National Development and Reform Commission (the latest version is the 2012 version, effective January 30, 2012) classified various industries/businesses into three different categories: (i) encouraged for foreign investment; (ii) restricted to foreign investment; and (iii) prohibited from foreign investment. For any industry/business not covered by any of these three categories, they will be deemed industries/businesses permitted for foreign investment. A typical foreign investment ownership restriction in the pharmaceutical industry is that a foreign investment enterprise (the &amp;#147;FIE&amp;#148;) shall not have the whole or majority of its equity interests owned by a foreign owner if the FIE establishes more than 30 branch stores and distributes a variety of brands in those franchise stores, which is not the case for the Company&amp;#146;s business.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Helpson manufactures and markets generic and branded pharmaceutical products as well as biochemical products primarily to hospitals and private retailers located throughout the PRC. The Company believes Helpson&amp;#146;s business is not subject to any ownership restrictions prescribed under the Catalogue. Onny acquired 100% of the ownership in Helpson on May 25, 2005 by entering into an Equity Transfer Agreement with Helpson&amp;#146;s three former shareholders. The transaction was approved by the Commercial Bureau of Hainan Province on June 12, 2005 and Helpson received the Certificate of Approval for Establishing of Enterprises with Foreign Investment in the PRC on the same day and its business license evidencing its WFOE (Wholly Foreign Owned Enterprise) status on June 21, 2005.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;The Company has acquired and continues to acquire well-accepted medical formulas to add to its diverse portfolio of Western and Chinese medicines.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt;</us-gaap:NatureOfOperations>
	<us-gaap:ConsolidationPolicyTextBlock contextRef='Y14'>&lt;!--egx--&gt;&lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;i&gt;&lt;font lang=&quot;EN-US&quot;&gt;Consolidation and Basis of Presentation &lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;#150; The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and are expressed in United States dollars. The accompanying consolidated financial statements include the accounts and operations of the Company and its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in the consolidation.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Helpson&amp;#146;s functional currency is the Chinese Renminbi. Helpson&amp;#146;s revenue and expenses are translated into United States dollars at the average exchange rate for the period. Assets and liabilities are translated at the exchange rate as of the end of the reporting period. Gains or losses from translating Helpson&amp;#146;s financial statements are included in accumulated other comprehensive income, which is a component of stockholders&amp;#146; equity. Gains and losses arising from transactions denominated in a currency other than the functional currency of the entity that is party to the transaction are included in the results of operations.&lt;/font&gt;&lt;/p&gt;</us-gaap:ConsolidationPolicyTextBlock>
	<us-gaap:UseOfEstimates contextRef='Y14'>&lt;!--egx--&gt;&lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;i&gt;&lt;font lang=&quot;EN-US&quot;&gt;Accounting Estimates &lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;- &lt;/font&gt;&lt;/b&gt;&lt;font lang=&quot;EN-US&quot;&gt;The methodology used to prepare for the Company&amp;#146;s financial statements is in conformity with the accounting principles generally accepted in the United States of America, which requires the management of the Company (&amp;#147;Management&amp;#148;) to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Therefore, actual results could differ from those estimates.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt;</us-gaap:UseOfEstimates>
	<us-gaap:CashAndCashEquivalentsPolicyTextBlock contextRef='Y14'>&lt;!--egx--&gt;&lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;i&gt;&lt;font lang=&quot;EN-US&quot;&gt;Cash and Cash Equivalents &lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;#150; Cash and cash equivalents include interest bearing and non-interest bearing bank deposits, money market accounts, and short-term banker&amp;#146;s acceptances purchased with maturities of three months or less.&lt;/font&gt;&lt;/p&gt;</us-gaap:CashAndCashEquivalentsPolicyTextBlock>
	<us-gaap:AllowanceForCreditLossesTextBlock contextRef='Y14'>&lt;!--egx--&gt;&lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;i&gt;&lt;font lang=&quot;EN-US&quot;&gt;Trade Accounts Receivable and Allowance for Doubtful Accounts &amp;#150; &lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Trade accounts receivables are carried at the original invoiced amounts less an allowance for doubtful accounts. The allowances for doubtful accounts are calculated based on a detailed review of certain individual customer accounts and an estimation of the overall economic conditions affecting the Company&apos;s customer base. The Company reviews a customer&apos;s credit history before extending credit to the customer. If the financial condition of its customers were to deteriorate, resulting in an impairment of their ability to make payments, additions to the allowance would be required. A provision is made against accounts receivable to the extent they are considered unlikely to be collected. It is common practice in the PRC for receivables to extend beyond one year. Customer balances outstanding for more than one year are allowed for at a greater rate when calculating the allowance for doubtful accounts. As of December 31, 2014, the Company had trade accounts receivable amounting to $48,569,986 from sales that occurred more than one year from that date, which the Company believes are collectable.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;During 2014, the Company offered two of its largest customers a discount of 30% for payments for accounts receivable that were older than one year. The amount of the outstanding accounts receivable balance the discount was applied to was approximately $1.8 million. As a result, the Company recognized additional bad debt expense of approximately $0.53 million for the year ended December 31, 2014.&amp;nbsp;&amp;nbsp;During 2013, Management negotiated settlement offers with certain customers with approximately $8.0 million in accounts receivable balances that were greater than one (1) year past due. The offers to these customers were comprised of discounts ranging from 15% to 30% of the total past due balance in exchange for payment in full by December 31, 2013. As a result, the Company was able to collect cash of approximately $5.85 million, and recognized additional bad debt expenses for the negotiated discounts of approximately $2.1 million for the year ended December 31, 2013.&lt;/font&gt;&lt;/p&gt;</us-gaap:AllowanceForCreditLossesTextBlock>
	<fil:AdvancesToSuppliersAndAdvancesFromCustomersTextBlock contextRef='Y14'>&lt;!--egx--&gt;&lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;i&gt;&lt;font lang=&quot;EN-US&quot;&gt;Advances to Suppliers and Advances from Customers&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;font lang=&quot;EN-US&quot;&gt; &amp;#150; Common practice in the PRC is to make advances to suppliers for materials and to receive advances from customers for finished products. Advances to suppliers are applied to trade accounts payable when the materials are received. Advances received from customers are applied against trade accounts receivable when finished products are sold.&lt;/font&gt;&lt;/p&gt;</fil:AdvancesToSuppliersAndAdvancesFromCustomersTextBlock>
	<us-gaap:InventoryPolicyTextBlock contextRef='Y14'>&lt;!--egx--&gt;&lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;i&gt;&lt;font lang=&quot;EN-US&quot;&gt;Inventory&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;font lang=&quot;EN-US&quot;&gt; &amp;#150; Inventory is stated at the lower of cost or net realizable value, computed on an average cost basis. We charge inventory obsolescence expense for inventory allowance to write down our inventory to the lower of cost or estimated market value or to completely write off obsolete or excess inventory. Charges to inventory obsolescence expense totaled $2,250,130 and $9,881,711 for the years ended December 31, 2014 and 2013, respectively. The Company recognized an inventory obsolescence reserve of ($1,093,082) and $6,257,142 for the years ended December 31, 2014 and 2013, respectively.&lt;/font&gt;&lt;/p&gt;</us-gaap:InventoryPolicyTextBlock>
	<us-gaap:ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock contextRef='Y14'>&lt;!--egx--&gt;&lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;i&gt;&lt;font lang=&quot;EN-US&quot;&gt;Valuation of Long-Lived Assets&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;font lang=&quot;EN-US&quot;&gt; &amp;#150; The carrying values of long-lived assets are reviewed for impairment annually or whenever events or changes in circumstances indicate that the carrying values may not be recoverable. When such an event occurs, the Company projects the undiscounted cash flows to be generated from the use of the asset and its eventual disposition over the remaining life of the asset. If projections indicate that the carrying value of an asset will not be recovered, it is reduced by the estimated excess of the carrying value over the projected discounted cash flows estimated to be generated by the asset. For the years ended December 31, 2014 and 2013, the Company evaluated its long-lived assets and determined that no impairment adjustment was necessary.&lt;/font&gt;&lt;/p&gt;</us-gaap:ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock>
	<us-gaap:PropertyPlantAndEquipmentPolicyTextBlock contextRef='Y14'>&lt;!--egx--&gt;&lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;i&gt;&lt;font lang=&quot;EN-US&quot;&gt;Property and Equipment&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;font lang=&quot;EN-US&quot;&gt; &amp;#150; Property and equipment are stated at cost. Maintenance and repairs are charged to expenses as incurred and major improvements are capitalized. Gains or losses on sale, trade-in or retirement are included in operations during the period of disposition.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt;</us-gaap:PropertyPlantAndEquipmentPolicyTextBlock>
	<us-gaap:RevenueRecognitionPolicyTextBlock contextRef='Y14'>&lt;!--egx--&gt;&lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;i&gt;&lt;font lang=&quot;EN-US&quot;&gt;Revenue Recognition&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;font lang=&quot;EN-US&quot;&gt; &amp;#150; Revenue is considered earned when the Company obtains persuasive evidence of an arrangement with the customer, when delivery of the products has occurred, when the sales price is fixed or determinable, and when collectability is reasonably assured. Delivery does not occur until products have been shipped to the customer, the risk of loss has transferred to the customer and customer acceptance has been obtained, customer acceptance provisions have lapsed, or the Company obtains objective evidence that the criteria specified in the customer acceptance provisions have been satisfied. The sales price is not considered to be fixed or determinable until all contingencies related to the sale have been resolved.&lt;/font&gt;&lt;/p&gt;</us-gaap:RevenueRecognitionPolicyTextBlock>
	<us-gaap:RevenueRecognitionCargoAndFreightPolicyPolicyTextBlock contextRef='Y14'>&lt;!--egx--&gt;&lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;i&gt;&lt;font lang=&quot;EN-US&quot;&gt;Cost of Revenues&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;font lang=&quot;EN-US&quot;&gt; &amp;#150; Cost of revenues includes wages, materials, handling charges, and other expenses associated with the manufacture and delivery of products.&lt;/font&gt;&lt;/p&gt;</us-gaap:RevenueRecognitionCargoAndFreightPolicyPolicyTextBlock>
	<us-gaap:ResearchAndDevelopmentExpensePolicy contextRef='Y14'>&lt;!--egx--&gt;&lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;i&gt;&lt;font lang=&quot;EN-US&quot;&gt;Research and Development&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;font lang=&quot;EN-US&quot;&gt; &amp;#150; Research and development expenditures are recorded as expenses in the period in which they occur. Research and development expenses were $2,798,557 and $1,683,244 for the years ended December 31, 2014 and 2013, respectively.&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt;</us-gaap:ResearchAndDevelopmentExpensePolicy>
	<us-gaap:PostemploymentBenefitPlansPolicy contextRef='Y14'>&lt;!--egx--&gt;&lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;i&gt;&lt;font lang=&quot;EN-US&quot;&gt;Retirement Benefit Plans&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;font lang=&quot;EN-US&quot;&gt; &amp;#150; The Company is required to make monthly contributions at prescribed rates to various employee retirement benefit plans organized by the provincial governments. The benefit plans of the government assume the retirement benefit obligations of all existing and future retired employees of the Company. The Company contributed $249,921 and $241,384 to retirement benefit plans for the years ended December 31, 2014 and 2013, respectively. Contributions to these plans are charged to expense as incurred.&lt;/font&gt;&lt;/p&gt;</us-gaap:PostemploymentBenefitPlansPolicy>
	<us-gaap:AdvertisingCostsPolicyTextBlock contextRef='Y14'>&lt;!--egx--&gt;&lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;i&gt;&lt;font lang=&quot;EN-US&quot;&gt;Advertising Costs&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;font lang=&quot;EN-US&quot;&gt; &amp;#150; Advertising costs are expensed when incurred. The Company did not incur any advertising costs for the years ended December 31, 2014 and 2013.&lt;/font&gt;&lt;/p&gt;</us-gaap:AdvertisingCostsPolicyTextBlock>
	<us-gaap:EarningsPerSharePolicyTextBlock contextRef='Y14'>&lt;!--egx--&gt;&lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;i&gt;&lt;font lang=&quot;EN-US&quot;&gt;Basic and Diluted (Loss) Earnings per Common Share &lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;- &lt;/font&gt;&lt;/b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Basic (loss) earnings per common share is computed by dividing net (loss) income by the weighted-average number of common shares outstanding during the period. Diluted (loss) earnings per share is calculated to give effect to potentially issuable dilutive common shares.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;The following table is a presentation of the numerators and denominators used in the calculation of basic and diluted (loss) earnings per share:&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; width=&quot;100%&quot; style=&apos;width:100%&apos;&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; colspan=&quot;6&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;For the Year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; colspan=&quot;6&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Ended December 31,&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;2014&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;2013&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Net loss&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;(26,047,375&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;(20,008,049&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Basic weighted-average common shares outstanding&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;43,579,557&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;43,579,557&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Effect of dilutive securities:&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt 9pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Warrants&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Options&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Diluted weighted-average common shares outstanding&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;43,579,557&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;43,579,557&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Basic loss per share&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;(0.60&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;(0.46&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Diluted loss per share&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;(0.60&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;(0.46&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;There were no potential dilutive common shares outstanding during the years ended December 31, 2014 and 2013, respectively.&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt;</us-gaap:EarningsPerSharePolicyTextBlock>
	<us-gaap:ConcentrationRiskCreditRisk contextRef='Y14'>&lt;!--egx--&gt;&lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;i&gt;&lt;font lang=&quot;EN-US&quot;&gt;Credit Risk&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;font lang=&quot;EN-US&quot;&gt; &amp;#150; The carrying amount of accounts receivable included in the balance sheet represents the Company&apos;s exposure to credit risk in relation to its financial assets. No other financial assets carries a significant exposure to credit risk. The Company performs ongoing credit evaluations of each customer&apos;s financial condition. The Company maintains allowances for doubtful accounts and such allowances in the aggregate have not exceeded Management&apos;s estimates.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;The Company has its cash in bank deposits primarily at state owned banks located in the PRC. Historically, deposits in PRC banks have been secured due to the state policy of protecting depositors&amp;#146; interests. The PRC promulgated a new Bankruptcy Law in August 2006, effective June&amp;nbsp;1, 2007, which contains provisions for the implementation of measures for the bankruptcy of PRC banks. In the event that bankruptcy laws are enacted for banks in the PRC, the Company&amp;#146;s deposits may be at a higher risk of loss.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt;</us-gaap:ConcentrationRiskCreditRisk>
	<fil:InterestRateRiskTextBlock contextRef='Y14'>&lt;!--egx--&gt;&lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;i&gt;&lt;font lang=&quot;EN-US&quot;&gt;Interest Rate Risk&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;font lang=&quot;EN-US&quot;&gt; &amp;#150; The Company is exposed to the risk arising from changing interest rates, which may affect the ability of repayment of existing debts and viability of securing future debt instruments within the PRC.&lt;/font&gt;&lt;/p&gt;</fil:InterestRateRiskTextBlock>
	<us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock contextRef='Y14'>&lt;!--egx--&gt;&lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;i&gt;&lt;font lang=&quot;EN-US&quot;&gt;Recent Accounting Pronouncements&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;In May 2014, the FASB issued ASU 2014-09,&amp;nbsp;&lt;i&gt;&quot;Revenue from Contracts with Customers&quot;&lt;/i&gt;&amp;nbsp;(ASU 2014-09), which contains new accounting literature relating to how and when a company recognizes revenue. Under ASU 2014-09, a company recognizes revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods and services. ASU 2014-09 will be effective for the Company&amp;#146;s fiscal year beginning January 1, 2017, with early application not permitted. The Company is in the process of determining what impact, if any, the adoption of ASU 2014-09 will have on its financial statements and related disclosures. The standard permits the use of either the full retrospective or modified retrospective transition method. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;In June 2014, the FASB issued ASU 2014-12,&amp;nbsp;&lt;i&gt;Compensation-Stock Compensation (Topic 718)&lt;/i&gt;. The ASU clarifies how entities should treat performance targets that can be achieved after the requisite service period of a share-based payment award. The accounting standard is effective for interim and annual periods beginning December 15, 2015.&amp;nbsp;&amp;nbsp;The Company does not anticipate the adoption of ASU 2014-12 will have a material impact on its financial statements and related disclosures.&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot; style=&apos;background:white&apos;&gt;Other accounting standards that have been issued by the FASB or other standards-setting bodies are not expected to have a material effect on the Company&amp;#146;s financial position, result of operations or cash flows.&lt;/font&gt;&lt;/p&gt;</us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock>
	<us-gaap:ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock contextRef='Y14'>&lt;!--egx--&gt;&lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;The following table is a presentation of the numerators and denominators used in the calculation of basic and diluted (loss) earnings per share:&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; width=&quot;100%&quot; style=&apos;width:100%&apos;&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; colspan=&quot;6&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;For the Year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; colspan=&quot;6&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Ended December 31,&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;2014&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;2013&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Net loss&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;(26,047,375&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;(20,008,049&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Basic weighted-average common shares outstanding&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;43,579,557&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;43,579,557&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Effect of dilutive securities:&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt 9pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Warrants&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Options&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Diluted weighted-average common shares outstanding&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;43,579,557&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;43,579,557&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Basic loss per share&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;(0.60&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;(0.46&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Diluted loss per share&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;(0.60&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;(0.46&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;</us-gaap:ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock>
	<us-gaap:ScheduleOfInventoryCurrentTableTextBlock contextRef='Y14'>&lt;!--egx--&gt;&lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Inventory consisted of the following:&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;center&quot;&gt; &lt;table border=&quot;0&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; width=&quot;90%&quot; style=&apos;width:90%&apos;&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;10%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;December 31,&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;10%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;December 31,&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;10%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;2014&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;10%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;2013&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Raw materials&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;18,819,570&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;28,259,707&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Work in process&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;853,602&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Finished goods&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;3,436,330&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;3,590,937&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;22,255,900&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;32,704,246&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Obsolescence reserve&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;(6,934,044&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;(8,027,126&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt 9pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Total Inventory&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;15,321,856&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;24,677,120&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt;</us-gaap:ScheduleOfInventoryCurrentTableTextBlock>
	<us-gaap:PropertyPlantAndEquipmentTextBlock contextRef='Y14'>&lt;!--egx--&gt;&lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Property and equipment consisted of the following:&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;center&quot;&gt; &lt;table border=&quot;0&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; width=&quot;90%&quot; style=&apos;width:90%&apos;&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;10%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;December 31,&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;10%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;December 31,&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;10%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;2014&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;10%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;2013&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Permit of land use&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;458,853&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;460,964&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Building&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;11,279,704&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;2,494,623&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Plant, machinery and equipment&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;28,358,694&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;6,671,620&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Motor vehicle&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;150,976&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;151,670&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Office equipment&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;268,521&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;229,210&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Construction in progress&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;5,848&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;25,497,600&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt 9pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;40,522,596&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;35,505,687&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Less: accumulated depreciation&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;(6,640,718&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;(5,264,350&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Property and Equipment, net&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;33,881,878&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;30,241,337&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</us-gaap:PropertyPlantAndEquipmentTextBlock>
	<fil:AReconciliationOfTotalInterestCostIncurredToInterestExpenseTextBlock contextRef='Y14'>&lt;!--egx--&gt;&lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;.&amp;nbsp;A reconciliation of total interest cost incurred to interest expense as recognized in the consolidated statement of operations is as follows:&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;center&quot;&gt; &lt;table border=&quot;0&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; width=&quot;90%&quot; style=&apos;width:90%&apos;&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;22%&quot; colspan=&quot;6&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:22%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;For the Year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;22%&quot; colspan=&quot;6&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:22%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Ended December 31,&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;10%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;2014&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;10%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;2013&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Total interest cost incurred&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;1,244,346&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;583,400&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Interest cost capitalized&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;458,542&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;234,704&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Interest expense&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;785,804&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;348,696&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt;</fil:AReconciliationOfTotalInterestCostIncurredToInterestExpenseTextBlock>
	<fil:UsefulLivesOfTheAssetsTableTextBlock contextRef='Y14'>&lt;!--egx--&gt;&lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Depreciation is computed on a straight-line basis over the estimated useful lives of the assets as follows:&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;center&quot;&gt; &lt;table border=&quot;0&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; width=&quot;40%&quot; style=&apos;width:40%&apos;&gt; &lt;tr&gt; &lt;td valign=&quot;top&quot; width=&quot;33%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:33%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Asset&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;2%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:2%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;13%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;Life - years&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;top&quot; width=&quot;33%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:33%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Permit of land use&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;2%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:2%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;13%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:13%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;40 - 70&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;top&quot; width=&quot;33%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:33%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Building&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;2%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:2%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;13%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:13%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;20 - 49&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;top&quot; width=&quot;33%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:33%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Plant, machinery and equipment&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;2%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:2%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;13%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:13%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;5 - 10&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;top&quot; width=&quot;33%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:33%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Motor vehicle&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;2%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:2%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;13%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:13%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;5 - 10&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;top&quot; width=&quot;33%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:33%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Office equipment&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;2%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:2%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;13%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:13%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;3-5&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;</fil:UsefulLivesOfTheAssetsTableTextBlock>
	<fil:IntangibleAssetsMedicalFormulasTablesTextBlock contextRef='Y14'>&lt;!--egx--&gt;&lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Intangible assets consisted solely of CFDA approved medical formulas as follows:&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;center&quot;&gt; &lt;table border=&quot;0&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; width=&quot;80%&quot; style=&apos;width:80%&apos;&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;70%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:70%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;December 31,&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;December 31,&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;70%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:70%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;2014&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;2013&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;70%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:70%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Gross carrying amount&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:12%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;5,499,494&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:12%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;5,524,785&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;70%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:70%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Accumulated amortization&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:12%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;(4,182,273&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:12%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;(3,812,992&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;70%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:70%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Net carrying amount&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:12%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;1,317,221&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:12%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;1,711,793&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt;</fil:IntangibleAssetsMedicalFormulasTablesTextBlock>
	<fil:EstimatedAggregateAnnualAmortizationExpenseTextBlock contextRef='Y14'>&lt;!--egx--&gt;&lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;The estimated aggregate annual amortization expense for each of the next five years and thereafter is as follows:&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;center&quot;&gt; &lt;table border=&quot;0&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; width=&quot;30%&quot; style=&apos;width:30%&apos;&gt; &lt;tr&gt; &lt;td valign=&quot;top&quot; width=&quot;8%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:8%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;2%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:2%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;11%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:11%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;Amount&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;top&quot; width=&quot;8%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:8%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;2%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:2%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;11%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:11%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;321,753&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;top&quot; width=&quot;8%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:8%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;2%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:2%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;11%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:11%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;300,191&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;top&quot; width=&quot;8%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:8%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;2%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:2%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;11%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:11%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;258,094&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;top&quot; width=&quot;8%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:8%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;2%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:2%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;11%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:11%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;137,930&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;top&quot; width=&quot;8%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:8%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;2019&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;2%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:2%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;11%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:11%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;64,755&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;top&quot; width=&quot;8%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:8%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Thereafter&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;2%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:2%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;11%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:11%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;234,498&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;top&quot; width=&quot;8%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:8%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;2%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:2%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;11%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:11%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;1,317,221&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;</fil:EstimatedAggregateAnnualAmortizationExpenseTextBlock>
	<us-gaap:ScheduleOfDebtInstrumentsTextBlock contextRef='Y14'>&lt;!--egx--&gt;&lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Principal payments required for the next five years as of December 31, 2014 are as follows:&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;center&quot;&gt; &lt;table border=&quot;0&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; width=&quot;50%&quot; style=&apos;width:50%&apos;&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;82%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:82%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:16%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Amount&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;82%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:82%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;15%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:15%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;1,629,062&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;82%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:82%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;15%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:15%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;1,629,062&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;82%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:82%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;2017&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;15%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:15%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;2,443,594&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;82%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:82%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;2018&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;15%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:15%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;2,443,594&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;82%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:82%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;2019&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; 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&lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;25%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</fil:IncomeTaxesTableTextBlock>
	<fil:ProvisionForIncomeTaxesTableTextBlock contextRef='Y14'>&lt;!--egx--&gt;&lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;The provision for income taxes consisted of the following:&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;center&quot;&gt; &lt;table border=&quot;0&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; width=&quot;90%&quot; style=&apos;width:90%&apos;&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;22%&quot; colspan=&quot;6&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:22%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Year Ended December 31,&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;10%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;2014&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;10%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;2013&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Current&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Deferred&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;77,042&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;1,061,413&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Total income tax expense (benefit)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;77,042&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;1,061,413&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt;</fil:ProvisionForIncomeTaxesTableTextBlock>
	<us-gaap:ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock contextRef='Y14'>&lt;!--egx--&gt;&lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Following is a reconciliation of income taxes calculated at the federal statutory rates to the provision for income taxes:&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;center&quot;&gt; &lt;table border=&quot;0&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; width=&quot;90%&quot; style=&apos;width:90%&apos;&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;22%&quot; colspan=&quot;6&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:22%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Years Ended December 31,&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;10%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;2014&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;10%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;2013&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;(Benefit) tax at statutory rate of 25%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;(6,511,844&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;(4,736,660&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Stock based compensation from current and prior years&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;8,534&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Effect of tax holiday&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;2,563,701&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;1,834,517&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Other, primarily the difference in U.S. tax rates&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;7,815&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Change in valuation allowance&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;4,017,370&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;3,955,022&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Income tax expense&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;77,042&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;1,061,413&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</us-gaap:ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock>
	<us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock contextRef='Y14'>&lt;!--egx--&gt;&lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;The temporary differences which give rise to the deferred income tax assets and liability are as follows:&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;center&quot;&gt; &lt;table border=&quot;0&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; width=&quot;90%&quot; style=&apos;width:90%&apos;&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;22%&quot; colspan=&quot;6&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:22%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;December 31,&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;10%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;2014&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;10%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;2013&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Deferred income tax assets:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;10%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;10%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Allowance for doubtful trade receivables&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;5,002,516&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;1,995,243&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Allowance for doubtful other receivables&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;9,049&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;6,460&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Inventory obsolescence reserve&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;1,040,107&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;1,501,687&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Expenses not deductible in current year&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;31,000&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;31,143&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;PRC net operating loss carry forward&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;1,688,417&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;328,643&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;U.S. net operating loss carry forward&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;1,181,679&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;1,052,784&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Total deferred income tax assets&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;8,952,768&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;4,915,960&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Valuation allowance&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;(8,952,768&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;(4,915,960&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt 9pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Net deferred income tax asset&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Deferred income tax liability:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;76%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Intangible assets&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;252,707&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;176,414&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&amp;nbsp;&lt;/p&gt;</us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock>
	<fil:AssetsFairValuesTablETextBlock contextRef='Y14'>&lt;!--egx--&gt;&lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;The Company held the following assets and liabilities recorded at fair value as of December 31, 2014 and 2013:&lt;/font&gt;&lt;/p&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; width=&quot;100%&quot; style=&apos;width:100%&apos;&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;40%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:40%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;43%&quot; colspan=&quot;10&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:43%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Fair Value Measurements at&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;40%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:40%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;43%&quot; colspan=&quot;10&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:43%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Reporting Date Using&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;40%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:40%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Description&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;December 31, 2014&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Level 1&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Level 2&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Level 3&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;40%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:40%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Banker&apos;s acceptance notes&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:12%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;458,233&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:12%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:12%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;458,233&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:12%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;40%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:40%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;458,233&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;458,233&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;40%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:40%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;40%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:40%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;31%&quot; colspan=&quot;10&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:31%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Fair Value Measurements at&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;40%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:40%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;31%&quot; colspan=&quot;10&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:31%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Reporting Date Using&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;40%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:40%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Description&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;December 31, 2013&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Level 1&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Level 2&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; colspan=&quot;2&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;center&quot; style=&apos;text-align:center;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;Level 3&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;b&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;40%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:40%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Banker&apos;s acceptance notes&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:12%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;336,003&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:12%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:12%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;336,003&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:12%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;bottom&quot; width=&quot;40%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:40%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;336,003&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p align=&quot;right&quot; style=&apos;text-align:right;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;1%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; &lt;p style=&apos;margin:0cm 0cm 0pt&apos;&gt;&lt;font lang=&quot;EN-US&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&apos;border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm&apos;&gt; 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	<us-gaap:SharesOutstanding decimals='INF' contextRef='E12_StEqComps-CapUnits' unitRef='Shares'>43579557</us-gaap:SharesOutstanding>
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	<us-gaap:SharesOutstanding decimals='INF' contextRef='E12_StEqComps-AddPaidInCap' unitRef='Shares'>23590204</us-gaap:SharesOutstanding>
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	<us-gaap:SharesOutstanding decimals='INF' contextRef='E12_StEqComps-StockholdersEqTotal' unitRef='Shares'>148516567</us-gaap:SharesOutstanding>
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	<fil:NetLossForTheYear decimals='INF' contextRef='Y13_StEqComps-StockholdersEqTotal' unitRef='USD'>-20008049</fil:NetLossForTheYear>
	<fil:ForeignCurrencyTranslationAdjustment decimals='INF' contextRef='Y13_StEqComps-AccumulatedOtherComprIncome' unitRef='USD'>4435923</fil:ForeignCurrencyTranslationAdjustment>
	<fil:ForeignCurrencyTranslationAdjustment decimals='INF' contextRef='Y13_StEqComps-StockholdersEqTotal' unitRef='USD'>4435923</fil:ForeignCurrencyTranslationAdjustment>
	<us-gaap:SharesOutstanding decimals='INF' contextRef='E13_StEqComps-CapUnits' unitRef='Shares'>43579557</us-gaap:SharesOutstanding>
	<us-gaap:SharesOutstanding decimals='INF' contextRef='E13_StEqComps-CommonStock' unitRef='Shares'>43580</us-gaap:SharesOutstanding>
	<us-gaap:SharesOutstanding decimals='INF' contextRef='E13_StEqComps-AddPaidInCap' unitRef='Shares'>23590204</us-gaap:SharesOutstanding>
	<us-gaap:SharesOutstanding decimals='INF' contextRef='E13_StEqComps-RetainedEarnings' unitRef='Shares'>88896276</us-gaap:SharesOutstanding>
	<us-gaap:SharesOutstanding decimals='INF' contextRef='E13_StEqComps-AccumulatedOtherComprIncome' unitRef='Shares'>20414381</us-gaap:SharesOutstanding>
	<us-gaap:SharesOutstanding decimals='INF' contextRef='E13_StEqComps-StockholdersEqTotal' unitRef='Shares'>132944441</us-gaap:SharesOutstanding>
	<fil:NetLossForTheYear decimals='INF' contextRef='Y14_StEqComps-RetainedEarnings' unitRef='USD'>-26047375</fil:NetLossForTheYear>
	<fil:NetLossForTheYear decimals='INF' contextRef='Y14_StEqComps-StockholdersEqTotal' unitRef='USD'>-26047375</fil:NetLossForTheYear>
	<fil:ForeignCurrencyTranslationAdjustment decimals='INF' contextRef='Y14_StEqComps-AccumulatedOtherComprIncome' unitRef='USD'>-643221</fil:ForeignCurrencyTranslationAdjustment>
	<fil:ForeignCurrencyTranslationAdjustment decimals='INF' contextRef='Y14_StEqComps-StockholdersEqTotal' unitRef='USD'>-643221</fil:ForeignCurrencyTranslationAdjustment>
	<us-gaap:SharesOutstanding decimals='INF' contextRef='E14_StEqComps-CapUnits' unitRef='Shares'>43579557</us-gaap:SharesOutstanding>
	<us-gaap:SharesOutstanding decimals='INF' contextRef='E14_StEqComps-CommonStock' unitRef='Shares'>43580</us-gaap:SharesOutstanding>
	<us-gaap:SharesOutstanding decimals='INF' contextRef='E14_StEqComps-AddPaidInCap' unitRef='Shares'>23590204</us-gaap:SharesOutstanding>
	<us-gaap:SharesOutstanding decimals='INF' contextRef='E14_StEqComps-RetainedEarnings' unitRef='Shares'>62848901</us-gaap:SharesOutstanding>
	<us-gaap:SharesOutstanding decimals='INF' contextRef='E14_StEqComps-AccumulatedOtherComprIncome' unitRef='Shares'>19771160</us-gaap:SharesOutstanding>
	<us-gaap:SharesOutstanding decimals='INF' contextRef='E14_StEqComps-StockholdersEqTotal' unitRef='Shares'>106253845</us-gaap:SharesOutstanding>
	<fil:PercentageOfShareOwnedByChinaPharmaHoldingsIncOfOnnyInvestmentLimited decimals='INF' contextRef='E14' unitRef='Pure'>1.0000</fil:PercentageOfShareOwnedByChinaPharmaHoldingsIncOfOnnyInvestmentLimited>
	<fil:PercentageOfShareOwnedByChinaPharmaHoldingsIncOfHelpsonMedicalAmpBiotechnologyCoLtd1 decimals='INF' contextRef='E14' unitRef='Pure'>1.0000</fil:PercentageOfShareOwnedByChinaPharmaHoldingsIncOfHelpsonMedicalAmpBiotechnologyCoLtd1>
	<fil:PercetageOfAcquiredByOnnyInHelpson decimals='INF' contextRef='E14' unitRef='Pure'>1.0000</fil:PercetageOfAcquiredByOnnyInHelpson>
	<fil:AccountsReceivableFromSales decimals='INF' contextRef='Y14' unitRef='USD'>48569986</fil:AccountsReceivableFromSales>
	<fil:ManagementNegotiatedSettlementOffersWithCertainCustomersInAccountsReceivableBalancesThatWereGreaterThanOne1YearPastDue decimals='INF' contextRef='Y14' unitRef='USD'>8000000</fil:ManagementNegotiatedSettlementOffersWithCertainCustomersInAccountsReceivableBalancesThatWereGreaterThanOne1YearPastDue>
	<fil:AmountCollectedInCash decimals='INF' contextRef='Y14' unitRef='USD'>5850000</fil:AmountCollectedInCash>
	<fil:RecognizedAdditionalBadDebtExpenseForTheNegotiatedDiscountsInTheAmountOf decimals='INF' contextRef='Y14' unitRef='USD'>530000</fil:RecognizedAdditionalBadDebtExpenseForTheNegotiatedDiscountsInTheAmountOf>
	<fil:RecognizedAdditionalBadDebtExpenseForTheNegotiatedDiscountsInTheAmountOf decimals='INF' contextRef='Y13' unitRef='USD'>2100000</fil:RecognizedAdditionalBadDebtExpenseForTheNegotiatedDiscountsInTheAmountOf>
	<fil:ChargesToInventoryObsolescenceExpenseTotalledTo decimals='INF' contextRef='Y14' unitRef='USD'>2250130</fil:ChargesToInventoryObsolescenceExpenseTotalledTo>
	<fil:ChargesToInventoryObsolescenceExpenseTotalledTo decimals='INF' contextRef='Y13' unitRef='USD'>9881711</fil:ChargesToInventoryObsolescenceExpenseTotalledTo>
	<fil:RecognizedInventoryObsolescenceReserveOf decimals='INF' contextRef='Y14' unitRef='USD'>-1093082</fil:RecognizedInventoryObsolescenceReserveOf>
	<fil:RecognizedInventoryObsolescenceReserveOf decimals='INF' contextRef='Y13' unitRef='USD'>6257142</fil:RecognizedInventoryObsolescenceReserveOf>
	<fil:RecognizedImpairmentLossOnIntangibleAssets decimals='INF' contextRef='Y13' unitRef='USD'>593095</fil:RecognizedImpairmentLossOnIntangibleAssets>
	<fil:ResearchAndDevelopmentExpenses decimals='INF' contextRef='Y14' unitRef='USD'>2798557</fil:ResearchAndDevelopmentExpenses>
	<fil:ResearchAndDevelopmentExpenses decimals='INF' contextRef='Y13' unitRef='USD'>1683244</fil:ResearchAndDevelopmentExpenses>
	<fil:AmountContributedToRetirementBenefitPlansForThePeriod decimals='INF' contextRef='Y14' unitRef='USD'>249921</fil:AmountContributedToRetirementBenefitPlansForThePeriod>
	<fil:AmountContributedToRetirementBenefitPlansForThePeriod decimals='INF' contextRef='Y13' unitRef='USD'>241384</fil:AmountContributedToRetirementBenefitPlansForThePeriod>
	<us-gaap:ProfitLoss decimals='INF' contextRef='Y14' unitRef='USD'>-26047375</us-gaap:ProfitLoss>
	<us-gaap:ProfitLoss decimals='INF' contextRef='Y13' unitRef='USD'>-20008049</us-gaap:ProfitLoss>
	<fil:Basicweightedaveragecommonsharesoutstanding1 decimals='INF' contextRef='Y14' unitRef='Shares'>43579557</fil:Basicweightedaveragecommonsharesoutstanding1>
	<fil:Basicweightedaveragecommonsharesoutstanding1 decimals='INF' contextRef='Y13' unitRef='Shares'>43579557</fil:Basicweightedaveragecommonsharesoutstanding1>
	<fil:Dilutedweightedaveragecommonsharesoutstanding2 decimals='INF' contextRef='Y14' unitRef='Shares'>43579557</fil:Dilutedweightedaveragecommonsharesoutstanding2>
	<fil:Dilutedweightedaveragecommonsharesoutstanding2 decimals='INF' contextRef='Y13' unitRef='Shares'>43579557</fil:Dilutedweightedaveragecommonsharesoutstanding2>
	<fil:BasicLossEarningsPerShare decimals='INF' contextRef='Y14' unitRef='UsdPerShare'>-0.60</fil:BasicLossEarningsPerShare>
	<fil:BasicLossEarningsPerShare decimals='INF' contextRef='Y13' unitRef='UsdPerShare'>-0.46</fil:BasicLossEarningsPerShare>
	<fil:DilutedLossEarningsPerShare decimals='INF' contextRef='Y14' unitRef='UsdPerShare'>-0.60</fil:DilutedLossEarningsPerShare>
	<fil:DilutedLossEarningsPerShare decimals='INF' contextRef='Y13' unitRef='UsdPerShare'>-0.46</fil:DilutedLossEarningsPerShare>
	<fil:CompanySManufacturingFacilitiesAndInventorySustainedStormDamageOfInventoryRelatedCosts1 decimals='INF' contextRef='I140718' unitRef='USD'>2016068</fil:CompanySManufacturingFacilitiesAndInventorySustainedStormDamageOfInventoryRelatedCosts1>
	<fil:CompanySManufacturingFacilitiesAndInventorySustainedStormDamageOfOfFacilitiesDamageCosts decimals='INF' contextRef='I140718' unitRef='USD'>260451</fil:CompanySManufacturingFacilitiesAndInventorySustainedStormDamageOfOfFacilitiesDamageCosts>
	<fil:RecognizedInventoryObsolescenceAllowanceOfApproxForBuflomedilRelatedRawmaterialsAndFinishedGoodsInventory decimals='INF' contextRef='Y14' unitRef='USD'>3700000</fil:RecognizedInventoryObsolescenceAllowanceOfApproxForBuflomedilRelatedRawmaterialsAndFinishedGoodsInventory>
	<fil:LossFromTheRefundsToCustomers decimals='INF' contextRef='Y14' unitRef='USD'>27507</fil:LossFromTheRefundsToCustomers>
	<fil:Rawmaterials1 decimals='INF' contextRef='E14' unitRef='USD'>18819570</fil:Rawmaterials1>
	<fil:Rawmaterials1 decimals='INF' contextRef='E13' unitRef='USD'>28259707</fil:Rawmaterials1>
	<us-gaap:InventoryWorkInProcess decimals='INF' contextRef='E13' unitRef='USD'>853602</us-gaap:InventoryWorkInProcess>
	<fil:Finishedgoods1 decimals='INF' contextRef='E14' unitRef='USD'>3436330</fil:Finishedgoods1>
	<fil:Finishedgoods1 decimals='INF' contextRef='E13' unitRef='USD'>3590937</fil:Finishedgoods1>
	<fil:InventoryGross1 decimals='INF' contextRef='E14' unitRef='USD'>22255900</fil:InventoryGross1>
	<fil:InventoryGross1 decimals='INF' contextRef='E13' unitRef='USD'>32704246</fil:InventoryGross1>
	<fil:ObsolescenceReserve decimals='INF' contextRef='E14' unitRef='USD'>-6934044</fil:ObsolescenceReserve>
	<fil:ObsolescenceReserve decimals='INF' contextRef='E13' unitRef='USD'>-8027126</fil:ObsolescenceReserve>
	<fil:TotalInventory decimals='INF' contextRef='E14' unitRef='USD'>15321856</fil:TotalInventory>
	<fil:TotalInventory decimals='INF' contextRef='E13' unitRef='USD'>24677120</fil:TotalInventory>
	<fil:PropertyAndEquipmentNet decimals='INF' contextRef='E14' unitRef='USD'>33881878</fil:PropertyAndEquipmentNet>
	<fil:PropertyAndEquipmentNet decimals='INF' contextRef='E13' unitRef='USD'>30241337</fil:PropertyAndEquipmentNet>
	<fil:PermitOfLandUse decimals='INF' contextRef='E14' unitRef='USD'>458853</fil:PermitOfLandUse>
	<fil:PermitOfLandUse decimals='INF' contextRef='E13' unitRef='USD'>460964</fil:PermitOfLandUse>
	<fil:Building decimals='INF' contextRef='E14' unitRef='USD'>11279704</fil:Building>
	<fil:Building decimals='INF' contextRef='E13' unitRef='USD'>2494623</fil:Building>
	<fil:PlantMachineryAndEquipmentGross decimals='INF' contextRef='E14' unitRef='USD'>28358694</fil:PlantMachineryAndEquipmentGross>
	<fil:PlantMachineryAndEquipmentGross decimals='INF' contextRef='E13' unitRef='USD'>6671620</fil:PlantMachineryAndEquipmentGross>
	<fil:MotorVehicleGross decimals='INF' contextRef='E14' unitRef='USD'>150976</fil:MotorVehicleGross>
	<fil:MotorVehicleGross decimals='INF' contextRef='E13' unitRef='USD'>151670</fil:MotorVehicleGross>
	<fil:OfficeEquipment1 decimals='INF' contextRef='E14' unitRef='USD'>268521</fil:OfficeEquipment1>
	<fil:OfficeEquipment1 decimals='INF' contextRef='E13' unitRef='USD'>229210</fil:OfficeEquipment1>
	<fil:ConstructionInProgress1 decimals='INF' contextRef='E14' unitRef='USD'>5848</fil:ConstructionInProgress1>
	<fil:ConstructionInProgress1 decimals='INF' contextRef='E13' unitRef='USD'>25497600</fil:ConstructionInProgress1>
	<fil:TotalPropertyAndEquipment decimals='INF' contextRef='E14' unitRef='USD'>40522596</fil:TotalPropertyAndEquipment>
	<fil:TotalPropertyAndEquipment decimals='INF' contextRef='E13' unitRef='USD'>35505687</fil:TotalPropertyAndEquipment>
	<fil:LessAccumulatedDepreciationDetails decimals='INF' contextRef='E14' unitRef='USD'>-6640718</fil:LessAccumulatedDepreciationDetails>
	<fil:LessAccumulatedDepreciationDetails decimals='INF' contextRef='E13' unitRef='USD'>-5264350</fil:LessAccumulatedDepreciationDetails>
	<fil:Propertyandequipmentnet1 decimals='INF' contextRef='E14' unitRef='USD'>33881878</fil:Propertyandequipmentnet1>
	<fil:Propertyandequipmentnet1 decimals='INF' contextRef='E13' unitRef='USD'>30241337</fil:Propertyandequipmentnet1>
	<fil:PermitOfLandUseMinimumLife decimals='INF' contextRef='E14' unitRef='Pure'>40</fil:PermitOfLandUseMinimumLife>
	<fil:PermitOfLandUseMaximumLife decimals='INF' contextRef='E14' unitRef='Pure'>70</fil:PermitOfLandUseMaximumLife>
	<fil:BuildingMinimumLife decimals='INF' contextRef='E14' unitRef='Pure'>20</fil:BuildingMinimumLife>
	<fil:BuildingMaximumLife decimals='INF' contextRef='E14' unitRef='Pure'>49</fil:BuildingMaximumLife>
	<fil:PlantMachineryAndEquipmentMinimumLife decimals='INF' contextRef='E14' unitRef='Pure'>5</fil:PlantMachineryAndEquipmentMinimumLife>
	<fil:PlantMachineryAndEquipmentMaximumLife decimals='INF' contextRef='E14' unitRef='Pure'>10</fil:PlantMachineryAndEquipmentMaximumLife>
	<fil:MotorVehicleMinimumLife decimals='INF' contextRef='E14' unitRef='Pure'>5</fil:MotorVehicleMinimumLife>
	<fil:MotorVehicleMaximumLife decimals='INF' contextRef='E14' unitRef='Pure'>10</fil:MotorVehicleMaximumLife>
	<fil:OfficeEquipmentMinimumLife decimals='INF' contextRef='E14' unitRef='Pure'>3</fil:OfficeEquipmentMinimumLife>
	<fil:OfficeEquipmentMaximumLife decimals='INF' contextRef='E14' unitRef='Pure'>5</fil:OfficeEquipmentMaximumLife>
	<fil:TotalInterestCostIncurred decimals='INF' contextRef='Y14' unitRef='USD'>1244346</fil:TotalInterestCostIncurred>
	<fil:TotalInterestCostIncurred decimals='INF' contextRef='Y13' unitRef='USD'>583400</fil:TotalInterestCostIncurred>
	<fil:Interestcostcapitalized1 decimals='INF' contextRef='Y14' unitRef='USD'>458542</fil:Interestcostcapitalized1>
	<fil:Interestcostcapitalized1 decimals='INF' contextRef='Y13' unitRef='USD'>234704</fil:Interestcostcapitalized1>
	<fil:InterestExpense1 decimals='INF' contextRef='Y14' unitRef='USD'>785804</fil:InterestExpense1>
	<fil:InterestExpense1 decimals='INF' contextRef='Y13' unitRef='USD'>348696</fil:InterestExpense1>
	<fil:DepreciationExpensePropertyAndEquipment decimals='INF' contextRef='Y14' unitRef='USD'>1399396</fil:DepreciationExpensePropertyAndEquipment>
	<fil:DepreciationExpensePropertyAndEquipment decimals='INF' contextRef='Y13' unitRef='USD'>846512</fil:DepreciationExpensePropertyAndEquipment>
	<fil:GrossCarryingAmount decimals='INF' contextRef='E14' unitRef='USD'>5499494</fil:GrossCarryingAmount>
	<fil:GrossCarryingAmount decimals='INF' contextRef='E13' unitRef='USD'>5524785</fil:GrossCarryingAmount>
	<fil:AccumulatedAmortizationIntangibleAssetsSFDAApprovedMedicalFormulas decimals='INF' contextRef='E14' unitRef='USD'>-4182273</fil:AccumulatedAmortizationIntangibleAssetsSFDAApprovedMedicalFormulas>
	<fil:AccumulatedAmortizationIntangibleAssetsSFDAApprovedMedicalFormulas decimals='INF' contextRef='E13' unitRef='USD'>-3812992</fil:AccumulatedAmortizationIntangibleAssetsSFDAApprovedMedicalFormulas>
	<fil:NetCarryingAmount decimals='INF' contextRef='E14' unitRef='USD'>1317221</fil:NetCarryingAmount>
	<fil:NetCarryingAmount decimals='INF' contextRef='E13' unitRef='USD'>1711793</fil:NetCarryingAmount>
	<fil:AnnualAmortization2015 decimals='INF' contextRef='E14' unitRef='USD'>321753</fil:AnnualAmortization2015>
	<fil:AnnualAmortization2016 decimals='INF' contextRef='E14' unitRef='USD'>300191</fil:AnnualAmortization2016>
	<fil:AnnualAmortization2017 decimals='INF' contextRef='E14' unitRef='USD'>258094</fil:AnnualAmortization2017>
	<fil:AnnualAmortization2018 decimals='INF' contextRef='E14' unitRef='USD'>137930</fil:AnnualAmortization2018>
	<fil:AnnualAmortization2019 decimals='INF' contextRef='E14' unitRef='USD'>64755</fil:AnnualAmortization2019>
	<fil:AnnualAmortizationThereafter decimals='INF' contextRef='E14' unitRef='USD'>234498</fil:AnnualAmortizationThereafter>
	<fil:AccumulatedAmortizationIntangibleAssetsCfdaApprovedMedicalFormulas decimals='INF' contextRef='E14' unitRef='USD'>1317221</fil:AccumulatedAmortizationIntangibleAssetsCfdaApprovedMedicalFormulas>
	<fil:ImpairmentLossesRelatingToThoseIntangibleAssets decimals='INF' contextRef='E14' unitRef='USD'>0</fil:ImpairmentLossesRelatingToThoseIntangibleAssets>
	<fil:ImpairmentLossesRelatingToThoseIntangibleAssets decimals='INF' contextRef='E13' unitRef='USD'>0</fil:ImpairmentLossesRelatingToThoseIntangibleAssets>
	<fil:AmortizationExpensesRelatingToIntangibleAsetsWas decimals='INF' contextRef='E14' unitRef='USD'>386440</fil:AmortizationExpensesRelatingToIntangibleAsetsWas>
	<fil:AmortizationExpensesRelatingToIntangibleAsetsWas decimals='INF' contextRef='E13' unitRef='USD'>766318</fil:AmortizationExpensesRelatingToIntangibleAsetsWas>
	<fil:CompanyWasObligatedToPayLaboratories decimals='INF' contextRef='E14' unitRef='USD'>4551000</fil:CompanyWasObligatedToPayLaboratories>
	<fil:CompanyWasObligatedToPayLaboratories decimals='INF' contextRef='E13' unitRef='USD'>5466000</fil:CompanyWasObligatedToPayLaboratories>
	<fil:TotalInterestExpenseRecognizedForThePeriod decimals='INF' contextRef='Y14' unitRef='USD'>13546</fil:TotalInterestExpenseRecognizedForThePeriod>
	<fil:TotalInterestExpenseRecognizedForThePeriod decimals='INF' contextRef='Y13' unitRef='USD'>13546</fil:TotalInterestExpenseRecognizedForThePeriod>
	<fil:InterestRateOnAdvancesFromMemberOfBOD decimals='INF' contextRef='Y14' unitRef='Pure'>0.0100</fil:InterestRateOnAdvancesFromMemberOfBOD>
	<fil:InterestRateOnAdvancesFromMemberOfBOD decimals='INF' contextRef='Y13' unitRef='Pure'>0.0100</fil:InterestRateOnAdvancesFromMemberOfBOD>
	<fil:AdavanceOwingToBoardmember decimals='INF' contextRef='E14' unitRef='USD'>1354567</fil:AdavanceOwingToBoardmember>
	<fil:AdavanceOwingToBoardmember decimals='INF' contextRef='E13' unitRef='USD'>1354567</fil:AdavanceOwingToBoardmember>
	<fil:RevolvingLineOfCreditWithABankRmb decimals='INF' contextRef='E14' unitRef='USD'>30000000</fil:RevolvingLineOfCreditWithABankRmb>
	<fil:AnnualInterestRate decimals='INF' contextRef='E14' unitRef='Pure'>0.0690</fil:AnnualInterestRate>
	<fil:OutstandingBalanceDueUnderRevolvingLineOfCreditRMB30000000 decimals='INF' contextRef='E14' unitRef='USD'>4887187</fil:OutstandingBalanceDueUnderRevolvingLineOfCreditRMB30000000>
	<fil:OutstandingBalanceDueUnderRevolvingLineOfCreditRMB30000000 decimals='INF' contextRef='E13' unitRef='USD'>4909662</fil:OutstandingBalanceDueUnderRevolvingLineOfCreditRMB30000000>
	<fil:TotalLoanFacilityAmountRmb800000001 decimals='INF' contextRef='E14' unitRef='USD'>13000000</fil:TotalLoanFacilityAmountRmb800000001>
	<fil:TotalLoanFacilityAmountRmb800000001 decimals='INF' contextRef='E13' unitRef='USD'>12500000</fil:TotalLoanFacilityAmountRmb800000001>
	<fil:LoanInterest decimals='INF' contextRef='E14' unitRef='Pure'>0.0721</fil:LoanInterest>
	<fil:LoanInterest decimals='INF' contextRef='E13' unitRef='Pure'>0.0721</fil:LoanInterest>
	<fil:PrincipalPayments2015 decimals='INF' contextRef='E14' unitRef='USD'>1629062</fil:PrincipalPayments2015>
	<fil:PrincipalPayments2016 decimals='INF' contextRef='E14' unitRef='USD'>1629062</fil:PrincipalPayments2016>
	<fil:PrincipalPayments2017 decimals='INF' contextRef='E14' unitRef='USD'>2443594</fil:PrincipalPayments2017>
	<fil:PrincipalPayments2018 decimals='INF' contextRef='E14' unitRef='USD'>2443594</fil:PrincipalPayments2018>
	<fil:PrincipalPayments2019 decimals='INF' contextRef='E14' unitRef='USD'>2443594</fil:PrincipalPayments2019>
	<fil:PrincipalPaymentsThereafter decimals='INF' contextRef='E14' unitRef='USD'>2443594</fil:PrincipalPaymentsThereafter>
	<fil:TotalPrincipalPaymentsDue decimals='INF' contextRef='E14' unitRef='USD'>13032500</fil:TotalPrincipalPaymentsDue>
	<fil:UndistributedEarningsOfHelpson decimals='INF' contextRef='E14' unitRef='USD'>94000000</fil:UndistributedEarningsOfHelpson>
	<fil:InvestmentInHelpsonAForeignSubsidiaryForTheCompany decimals='INF' contextRef='E14' unitRef='USD'>23300000</fil:InvestmentInHelpsonAForeignSubsidiaryForTheCompany>
	<fil:EnterpriseIncomeTaxRatesForTheYear2013 decimals='INF' contextRef='E14' unitRef='Pure'>0.1500</fil:EnterpriseIncomeTaxRatesForTheYear2013>
	<fil:EnterpriseIncomeTaxRatesForTheYear2014 decimals='INF' contextRef='E14' unitRef='Pure'>0.1500</fil:EnterpriseIncomeTaxRatesForTheYear2014>
	<fil:EnterpriseIncomeTaxRatesForTheYear2015 decimals='INF' contextRef='E14' unitRef='Pure'>0.1500</fil:EnterpriseIncomeTaxRatesForTheYear2015>
	<fil:EnterpriseIncomeTaxRatesForTheYear2016 decimals='INF' contextRef='E14' unitRef='Pure'>0.1500</fil:EnterpriseIncomeTaxRatesForTheYear2016>
	<fil:EnterpriseIncomeTaxRatesForTheYear2016ThereAfter decimals='INF' contextRef='E14' unitRef='Pure'>0.2500</fil:EnterpriseIncomeTaxRatesForTheYear2016ThereAfter>
	<fil:NetOperatingLossCarryforwardsForPrcTaxPurposes decimals='INF' contextRef='E14' unitRef='USD'>11300000</fil:NetOperatingLossCarryforwardsForPrcTaxPurposes>
	<fil:NetOperatingLossCarryforwardsForUsFederalIncomeTaxPurposes decimals='INF' contextRef='E14' unitRef='USD'>3500000</fil:NetOperatingLossCarryforwardsForUsFederalIncomeTaxPurposes>
	<us-gaap:IncomeTaxExpenseBenefit decimals='INF' contextRef='Y14' unitRef='USD'>-77042</us-gaap:IncomeTaxExpenseBenefit>
	<us-gaap:IncomeTaxExpenseBenefit decimals='INF' contextRef='Y13' unitRef='USD'>-1061413</us-gaap:IncomeTaxExpenseBenefit>
	<us-gaap:CurrentIncomeTaxExpenseBenefit decimals='INF' contextRef='Y14' unitRef='USD'>0</us-gaap:CurrentIncomeTaxExpenseBenefit>
	<us-gaap:CurrentIncomeTaxExpenseBenefit decimals='INF' contextRef='Y13' unitRef='USD'>0</us-gaap:CurrentIncomeTaxExpenseBenefit>
	<us-gaap:DeferredFederalIncomeTaxExpenseBenefit decimals='INF' contextRef='Y14' unitRef='USD'>77042</us-gaap:DeferredFederalIncomeTaxExpenseBenefit>
	<us-gaap:DeferredFederalIncomeTaxExpenseBenefit decimals='INF' contextRef='Y13' unitRef='USD'>1061413</us-gaap:DeferredFederalIncomeTaxExpenseBenefit>
	<fil:TotalIncomeTaxExpense decimals='INF' contextRef='Y14' unitRef='USD'>77042</fil:TotalIncomeTaxExpense>
	<fil:TotalIncomeTaxExpense decimals='INF' contextRef='Y13' unitRef='USD'>1061413</fil:TotalIncomeTaxExpense>
	<fil:EffectOfTaxHolidayAmountedToAChangeInTheTaxExpenseBenefitOf decimals='INF' contextRef='Y14' unitRef='USD'>2559466</fil:EffectOfTaxHolidayAmountedToAChangeInTheTaxExpenseBenefitOf>
	<fil:EffectOfTaxHolidayAmountedToAChangeInTheTaxExpenseBenefitOf decimals='INF' contextRef='Y13' unitRef='USD'>1834517</fil:EffectOfTaxHolidayAmountedToAChangeInTheTaxExpenseBenefitOf>
	<fil:EquivalentToBasicAndDilutedEarningsPerShareOf decimals='INF' contextRef='Y14' unitRef='UsdPerShare'>-0.09</fil:EquivalentToBasicAndDilutedEarningsPerShareOf>
	<fil:EquivalentToBasicAndDilutedEarningsPerShareOf decimals='INF' contextRef='Y13' unitRef='UsdPerShare'>-0.04</fil:EquivalentToBasicAndDilutedEarningsPerShareOf>
	<fil:TaxAtStatutoryRateOf25 decimals='INF' contextRef='Y14' unitRef='USD'>-6511844</fil:TaxAtStatutoryRateOf25>
	<fil:TaxAtStatutoryRateOf25 decimals='INF' contextRef='Y13' unitRef='USD'>-4736660</fil:TaxAtStatutoryRateOf25>
	<fil:CurrentAndPriorYears decimals='INF' contextRef='Y13' unitRef='USD'>8534</fil:CurrentAndPriorYears>
	<fil:EffectOfTaxHoliday decimals='INF' contextRef='Y14' unitRef='USD'>2563701</fil:EffectOfTaxHoliday>
	<fil:EffectOfTaxHoliday decimals='INF' contextRef='Y13' unitRef='USD'>1834517</fil:EffectOfTaxHoliday>
	<fil:OtherPrimarilyTheEffectOfUsTaxRates decimals='INF' contextRef='Y14' unitRef='USD'>7815</fil:OtherPrimarilyTheEffectOfUsTaxRates>
	<fil:OtherPrimarilyTheEffectOfUsTaxRates decimals='INF' contextRef='Y13' unitRef='USD'>0</fil:OtherPrimarilyTheEffectOfUsTaxRates>
	<fil:ChangeInValuationAllowanceReconciliation decimals='INF' contextRef='Y14' unitRef='USD'>4017370</fil:ChangeInValuationAllowanceReconciliation>
	<fil:ChangeInValuationAllowanceReconciliation decimals='INF' contextRef='Y13' unitRef='USD'>3955022</fil:ChangeInValuationAllowanceReconciliation>
	<fil:IncomeTaxExpenseReconciliation decimals='INF' contextRef='Y14' unitRef='USD'>77042</fil:IncomeTaxExpenseReconciliation>
	<fil:IncomeTaxExpenseReconciliation decimals='INF' contextRef='Y13' unitRef='USD'>1061413</fil:IncomeTaxExpenseReconciliation>
	<fil:AllowanceForDoubtfulTradeReceivablesDeferredTax decimals='INF' contextRef='Y14' unitRef='USD'>5002516</fil:AllowanceForDoubtfulTradeReceivablesDeferredTax>
	<fil:AllowanceForDoubtfulTradeReceivablesDeferredTax decimals='INF' contextRef='Y13' unitRef='USD'>1995243</fil:AllowanceForDoubtfulTradeReceivablesDeferredTax>
	<fil:AllowanceForDoubtfulOtherReceivablesDeferredTax decimals='INF' contextRef='Y14' unitRef='USD'>9049</fil:AllowanceForDoubtfulOtherReceivablesDeferredTax>
	<fil:AllowanceForDoubtfulOtherReceivablesDeferredTax decimals='INF' contextRef='Y13' unitRef='USD'>6460</fil:AllowanceForDoubtfulOtherReceivablesDeferredTax>
	<fil:Inventoryobsolescencereserve11 decimals='INF' contextRef='Y14' unitRef='USD'>1040107</fil:Inventoryobsolescencereserve11>
	<fil:Inventoryobsolescencereserve11 decimals='INF' contextRef='Y13' unitRef='USD'>1501687</fil:Inventoryobsolescencereserve11>
	<fil:ExpensesNotDeductibleInCurrentYear decimals='INF' contextRef='Y14' unitRef='USD'>31000</fil:ExpensesNotDeductibleInCurrentYear>
	<fil:ExpensesNotDeductibleInCurrentYear decimals='INF' contextRef='Y13' unitRef='USD'>31143</fil:ExpensesNotDeductibleInCurrentYear>
	<fil:PrcNetOperatingLossCarryForward decimals='INF' contextRef='Y14' unitRef='USD'>1688417</fil:PrcNetOperatingLossCarryForward>
	<fil:PrcNetOperatingLossCarryForward decimals='INF' contextRef='Y13' unitRef='USD'>328643</fil:PrcNetOperatingLossCarryForward>
	<fil:USNetOperatingLossCarryForwards decimals='INF' contextRef='Y14' unitRef='USD'>1181679</fil:USNetOperatingLossCarryForwards>
	<fil:USNetOperatingLossCarryForwards decimals='INF' contextRef='Y13' unitRef='USD'>1052784</fil:USNetOperatingLossCarryForwards>
	<fil:TotalDeferredIncomeTaxAssets decimals='INF' contextRef='Y14' unitRef='USD'>8952768</fil:TotalDeferredIncomeTaxAssets>
	<fil:TotalDeferredIncomeTaxAssets decimals='INF' contextRef='Y13' unitRef='USD'>4915960</fil:TotalDeferredIncomeTaxAssets>
	<fil:ValuationAllowance decimals='INF' contextRef='Y14' unitRef='USD'>-8952768</fil:ValuationAllowance>
	<fil:ValuationAllowance decimals='INF' contextRef='Y13' unitRef='USD'>-4915960</fil:ValuationAllowance>
	<fil:NetDeferredIncomeTaxAsset decimals='INF' contextRef='Y13' unitRef='USD'>0</fil:NetDeferredIncomeTaxAsset>
	<fil:IntangibleAssetsIncomeTaxLiability decimals='INF' contextRef='Y14' unitRef='USD'>252707</fil:IntangibleAssetsIncomeTaxLiability>
	<fil:IntangibleAssetsIncomeTaxLiability decimals='INF' contextRef='Y13' unitRef='USD'>176414</fil:IntangibleAssetsIncomeTaxLiability>
	<fil:BankersAcceptanceNotes decimals='INF' contextRef='E14' unitRef='USD'>458233</fil:BankersAcceptanceNotes>
	<fil:BankersAcceptanceNotes decimals='INF' contextRef='E13' unitRef='USD'>336003</fil:BankersAcceptanceNotes>
	<fil:Total1 decimals='INF' contextRef='E14' unitRef='USD'>458233</fil:Total1>
	<fil:Total1 decimals='INF' contextRef='E13' unitRef='USD'>336003</fil:Total1>
	<fil:BankersAcceptanceNotesLevel1 decimals='INF' contextRef='E14' unitRef='USD'>0</fil:BankersAcceptanceNotesLevel1>
	<fil:BankersAcceptanceNotesLevel1 decimals='INF' contextRef='E13' unitRef='USD'>0</fil:BankersAcceptanceNotesLevel1>
	<fil:TotalLevel1 decimals='INF' contextRef='E14' unitRef='USD'>0</fil:TotalLevel1>
	<fil:TotalLevel1 decimals='INF' contextRef='E13' unitRef='USD'>0</fil:TotalLevel1>
	<fil:BankersAcceptanceNotesLevel2 decimals='INF' contextRef='E14' unitRef='USD'>458233</fil:BankersAcceptanceNotesLevel2>
	<fil:BankersAcceptanceNotesLevel2 decimals='INF' contextRef='E13' unitRef='USD'>336003</fil:BankersAcceptanceNotesLevel2>
	<fil:TotalLevel2 decimals='INF' contextRef='E14' unitRef='USD'>458233</fil:TotalLevel2>
	<fil:TotalLevel2 decimals='INF' contextRef='E13' unitRef='USD'>336003</fil:TotalLevel2>
	<fil:BankersAcceptanceNotesLevel3 decimals='INF' contextRef='E14' unitRef='USD'>0</fil:BankersAcceptanceNotesLevel3>
	<fil:BankersAcceptanceNotesLevel3 decimals='INF' contextRef='E13' unitRef='USD'>0</fil:BankersAcceptanceNotesLevel3>
	<fil:TotalLevel3 decimals='INF' contextRef='E14' unitRef='USD'>0</fil:TotalLevel3>
	<fil:TotalLevel3 decimals='INF' contextRef='E13' unitRef='USD'>0</fil:TotalLevel3>
	<fil:CommonSharesAuthorized decimals='INF' contextRef='E14' unitRef='Shares'>95000000</fil:CommonSharesAuthorized>
	<fil:PreferredSharesAuthorized decimals='INF' contextRef='E14' unitRef='Shares'>5000000</fil:PreferredSharesAuthorized>
	<fil:NumberOfCommonStockSharesToPurchaseByWarrantsOutstaningAndExercisable decimals='INF' contextRef='E14' unitRef='Shares'>150000</fil:NumberOfCommonStockSharesToPurchaseByWarrantsOutstaningAndExercisable>
	<fil:WarrantsStartRangeExercisePrice decimals='INF' contextRef='E14' unitRef='UsdPerShare'>3.00</fil:WarrantsStartRangeExercisePrice>
	<fil:WarrantsEndRangeExercisePrice decimals='INF' contextRef='E14' unitRef='UsdPerShare'>3.80</fil:WarrantsEndRangeExercisePrice>
	<fil:NumberOfCommonShares decimals='INF' contextRef='I101112' unitRef='Shares'>4000000</fil:NumberOfCommonShares>
	<fil:NumberOfCommonSharesPurchasedByOptions decimals='INF' contextRef='E14' unitRef='Shares'>25000</fil:NumberOfCommonSharesPurchasedByOptions>
	<fil:StockOptionsGranted decimals='INF' contextRef='E14' unitRef='Shares'>100000</fil:StockOptionsGranted>
	<fil:ExercisePricePerShareExpiredUnexercised1 decimals='INF' contextRef='E14' unitRef='UsdPerShare'>2.54</fil:ExercisePricePerShareExpiredUnexercised1>
	<fil:SharesOfRestrictedStockGrantedAndOutstandingUnderThe2010IncentivePlan decimals='INF' contextRef='E14' unitRef='Shares'>175000</fil:SharesOfRestrictedStockGrantedAndOutstandingUnderThe2010IncentivePlan>
	<fil:CompanyMadePaymentsAsPerConstructionAgreement decimals='INF' contextRef='Y14' unitRef='USD'>4637671</fil:CompanyMadePaymentsAsPerConstructionAgreement>
	<fil:CompanyMadePaymentsAsPerConstructionAgreement decimals='INF' contextRef='Y13' unitRef='USD'>25474525</fil:CompanyMadePaymentsAsPerConstructionAgreement>
	<fil:PercentageOfNoCustomerAccountedForMoreThanSales decimals='INF' contextRef='Y14' unitRef='Pure'>0.1620</fil:PercentageOfNoCustomerAccountedForMoreThanSales>
	<fil:PercentageOfNoCustomerAccountedForMoreThanSales decimals='INF' contextRef='Y13' unitRef='Pure'>0.1000</fil:PercentageOfNoCustomerAccountedForMoreThanSales>
	<fil:SupplierAccountedForRawMaterialPurchases decimals='INF' contextRef='Y14' unitRef='Pure'>0.2650</fil:SupplierAccountedForRawMaterialPurchases>
	<fil:SupplierAccountedForRawMaterialPurchases decimals='INF' contextRef='Y13' unitRef='Pure'>0.1870</fil:SupplierAccountedForRawMaterialPurchases>
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				<link:definition>000130 - Disclosure - ADVANCES FOR PURCHASES OF INTANGIBLE ASSETS.</link:definition>
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				<link:definition>000340 - Statement - BASIS OF PRESENTATION POLICIES Parentheticals (Details)</link:definition>
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				<link:definition>000060 - Statement - CONSOLIDATED STATEMENTS OF CASH FLOWS</link:definition>
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				<link:definition>000220 - Disclosure - Accounting Policies (Policies)</link:definition>
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				<link:definition>000580 - Statement - 2010 Stock Option Plan (Details)</link:definition>
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				<link:definition>000470 - Statement - RELATED PARTY TRANSACTIONS Member Of BOD (Details)</link:definition>
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				<link:definition>000360 - Statement - PRODUCT RECALL (DETAILS)</link:definition>
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				<link:definition>000410 - Statement - PROPERTY AND EQUIPMENT Assets Life (Details)</link:definition>
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				<link:definition>000450 - Statement - Estimated Aggregate Annual Amortization expense for next five years and thereafter (Details)</link:definition>
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			<link:roleType roleURI="http://www.chinapharmaholdings.com/20141231/role/idr_BASISOFPRESENTATIONDetails" id="idr_BASISOFPRESENTATIONDetails">
				<link:definition>000310 - Statement - BASIS OF PRESENTATION (Details)</link:definition>
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				<link:usedOn>link:definitionLink</link:usedOn>
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			<link:roleType roleURI="http://www.chinapharmaholdings.com/20141231/role/idr_DisclosureINCOMETAXESTables" id="idr_DisclosureINCOMETAXESTables">
				<link:definition>000280 - Disclosure - INCOME TAXES (Tables)</link:definition>
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				<link:definition>000180 - Disclosure - FAIR VALUE MEASUREMENTS</link:definition>
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				<link:usedOn>link:definitionLink</link:usedOn>
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				<link:definition>000560 - Statement - FAIR VALUE MEASUREMENTS At Reporting Date Using (Details)</link:definition>
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				<link:definition>000160 - Disclosure - CONSTRUCTION LOAN FACILITY.</link:definition>
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				<link:usedOn>link:definitionLink</link:usedOn>
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				<link:definition>000040 - Statement - CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS</link:definition>
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				<link:definition>000080 - Disclosure - LOSSES FROM NATURAL DISASTER</link:definition>
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				<link:definition>000110 - Disclosure - PROPERTY AND EQUIPMENT</link:definition>
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				<link:definition>000440 - Statement - INTANGIBLE ASSETS CFDA Approved Medical Formulas (Details)</link:definition>
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				<link:definition>000090 - Disclosure - PRODUCT RECALL</link:definition>
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				<link:usedOn>link:definitionLink</link:usedOn>
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				<link:definition>000370 - Statement - Inventory consisted of the following (Details)</link:definition>
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				<link:definition>000190 - Disclosure - STOCKHOLDERS&apos; EQUITY</link:definition>
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				<link:definition>000030 - Statement - CONSOLIDATED BALANCE SHEETS PARENTHETICALS</link:definition>
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				<link:definition>000480 - Statement - RELATED PARTY TRANSACTIONS Owings (Details)</link:definition>
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				<link:definition>000320 - Statement - BASIS OF PRESENTATION Basic and Diluted Earnings per Common Share (Details)</link:definition>
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				<link:definition>000460 - Statement - ADVANCES FOR PURCHASES OF INTANGIBLE ASSETS (Details)</link:definition>
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				<link:definition>000200 - Disclosure - COMMITMENTS AND CONTINGENCIES</link:definition>
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				<link:definition>000430 - Statement - ASSETS Depreciation (Details)</link:definition>
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				<link:definition>000260 - Disclosure - INTANGIBLE ASSETS (Tables)</link:definition>
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				<link:definition>000140 - Disclosure - RELATED PARTY TRANSACTIONS</link:definition>
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				<link:definition>000550 - Statement - Changes of deferred income tax assets and liability (Details)</link:definition>
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				<link:definition>000490 - Statement - NOTES PAYABLES. (Details)</link:definition>
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				<link:definition>000070 - Disclosure - ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES</link:definition>
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				<link:definition>000380 - Statement - Property and equipment consisted of the following (Details)</link:definition>
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				<link:definition>000540 - Statement - Reconciliation of income taxes (Details)</link:definition>
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				<link:definition>000530 - Statement - INCOME TAXES Provision (Details)</link:definition>
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				<link:definition>000520 - Statement - INCOME TAXES Undistributed Earnings And Income Tax Rates (Details)</link:definition>
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	<element abstract='true' nillable='true' type='xbrli:stringItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' id='fil_ParentheticalsTradeReceivablesAbstract' name='ParentheticalsTradeReceivablesAbstract' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' xbrli:balance='debit' id='fil_AccountsReceivableFromSales' name='AccountsReceivableFromSales' />
	<element nillable='true' type='xbrli:sharesItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' id='fil_OptionsWithAnExercisePriceOf254To347PerShare' name='OptionsWithAnExercisePriceOf254To347PerShare' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' xbrli:balance='debit' id='fil_ManagementNegotiatedSettlementOffersWithCertainCustomersInAccountsReceivableBalancesThatWereGreaterThanOne1YearPastDue' name='ManagementNegotiatedSettlementOffersWithCertainCustomersInAccountsReceivableBalancesThatWereGreaterThanOne1YearPastDue' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' xbrli:balance='credit' id='fil_AmountCollectedInCash' name='AmountCollectedInCash' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' xbrli:balance='debit' id='fil_RecognizedAdditionalBadDebtExpenseForTheNegotiatedDiscountsInTheAmountOf' name='RecognizedAdditionalBadDebtExpenseForTheNegotiatedDiscountsInTheAmountOf' />
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	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' xbrli:balance='credit' id='fil_RecognizedImpairmentLossOnIntangibleAssets' name='RecognizedImpairmentLossOnIntangibleAssets' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' xbrli:balance='debit' id='fil_ResearchAndDevelopmentExpenses' name='ResearchAndDevelopmentExpenses' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' xbrli:balance='debit' id='fil_AmountContributedToRetirementBenefitPlansForThePeriod' name='AmountContributedToRetirementBenefitPlansForThePeriod' />
	<element abstract='true' nillable='true' type='xbrli:stringItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' id='fil_OtherExpenses2Abstract' name='OtherExpenses2Abstract' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' xbrli:balance='credit' id='fil_ChargesToInventoryObsolescenceExpenseTotalledTo' name='ChargesToInventoryObsolescenceExpenseTotalledTo' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' xbrli:balance='credit' id='fil_RecognizedInventoryObsolescenceAllowanceOfApproxForBuflomedilRelatedRawmaterialsAndFinishedGoodsInventory' name='RecognizedInventoryObsolescenceAllowanceOfApproxForBuflomedilRelatedRawmaterialsAndFinishedGoodsInventory' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' xbrli:balance='debit' id='fil_LossFromTheRefundsToCustomers' name='LossFromTheRefundsToCustomers' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='instant' xbrli:balance='debit' id='fil_Building' name='Building' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='instant' xbrli:balance='debit' id='fil_OfficeEquipment1' name='OfficeEquipment1' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='instant' xbrli:balance='debit' id='fil_ConstructionInProgress1' name='ConstructionInProgress1' />
	<element abstract='true' nillable='true' type='xbrli:stringItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' id='fil_IntangibleAssetsCfdaApprovedMedicalFormulasAbstract' name='IntangibleAssetsCfdaApprovedMedicalFormulasAbstract' />
	<element abstract='true' nillable='true' type='xbrli:stringItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' id='fil_EstimatedAggregateAnnualAmortizationExpenseForNextFiveYearsAndThereafterAbstract' name='EstimatedAggregateAnnualAmortizationExpenseForNextFiveYearsAndThereafterAbstract' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='instant' xbrli:balance='debit' id='fil_AnnualAmortization2015' name='AnnualAmortization2015' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='instant' xbrli:balance='debit' id='fil_AnnualAmortization2016' name='AnnualAmortization2016' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='instant' xbrli:balance='debit' id='fil_AnnualAmortization2017' name='AnnualAmortization2017' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='instant' xbrli:balance='debit' id='fil_AnnualAmortization2018' name='AnnualAmortization2018' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='instant' xbrli:balance='debit' id='fil_AnnualAmortizationThereafter' name='AnnualAmortizationThereafter' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='instant' xbrli:balance='debit' id='fil_AccumulatedAmortizationIntangibleAssetsCfdaApprovedMedicalFormulas' name='AccumulatedAmortizationIntangibleAssetsCfdaApprovedMedicalFormulas' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='instant' xbrli:balance='debit' id='fil_ImpairmentLossesRelatingToThoseIntangibleAssets' name='ImpairmentLossesRelatingToThoseIntangibleAssets' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='instant' xbrli:balance='debit' id='fil_AmortizationExpensesRelatingToIntangibleAsetsWas' name='AmortizationExpensesRelatingToIntangibleAsetsWas' />
	<element abstract='true' nillable='true' type='xbrli:stringItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' id='fil_PrincipalPaymentsRequiredForTheNextFiveYearsAsOfDecember312013AreAsFollowsAbstract' name='PrincipalPaymentsRequiredForTheNextFiveYearsAsOfDecember312013AreAsFollowsAbstract' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='instant' xbrli:balance='debit' id='fil_PrincipalPayments2015' name='PrincipalPayments2015' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='instant' xbrli:balance='debit' id='fil_PrincipalPayments2016' name='PrincipalPayments2016' />
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	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='instant' xbrli:balance='debit' id='fil_PrincipalPayments2018' name='PrincipalPayments2018' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='instant' xbrli:balance='debit' id='fil_PrincipalPaymentsThereafter' name='PrincipalPaymentsThereafter' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='instant' xbrli:balance='debit' id='fil_NetOperatingLossCarryforwardsForUsFederalIncomeTaxPurposes' name='NetOperatingLossCarryforwardsForUsFederalIncomeTaxPurposes' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' xbrli:balance='debit' id='fil_EffectOfTaxHolidayAmountedToAChangeInTheTaxExpenseBenefitOf' name='EffectOfTaxHolidayAmountedToAChangeInTheTaxExpenseBenefitOf' />
	<element nillable='true' type='num:perShareItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' id='fil_EquivalentToBasicAndDilutedEarningsPerShareOf' name='EquivalentToBasicAndDilutedEarningsPerShareOf' />
	<element abstract='true' nillable='true' type='xbrli:stringItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' id='fil_ReconciliationOfIncomeTaxesAbstract' name='ReconciliationOfIncomeTaxesAbstract' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' xbrli:balance='debit' id='fil_TaxAtStatutoryRateOf25' name='TaxAtStatutoryRateOf25' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' xbrli:balance='debit' id='fil_CurrentAndPriorYears' name='CurrentAndPriorYears' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' xbrli:balance='debit' id='fil_EffectOfTaxHoliday' name='EffectOfTaxHoliday' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' xbrli:balance='debit' id='fil_OtherPrimarilyTheEffectOfUsTaxRates' name='OtherPrimarilyTheEffectOfUsTaxRates' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' xbrli:balance='debit' id='fil_ChangeInValuationAllowanceReconciliation' name='ChangeInValuationAllowanceReconciliation' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' xbrli:balance='debit' id='fil_IncomeTaxExpenseReconciliation' name='IncomeTaxExpenseReconciliation' />
	<element abstract='true' nillable='true' type='xbrli:stringItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' id='fil_ChangesOfDeferredIncomeTaxAssetsAndLiabilityAbstract' name='ChangesOfDeferredIncomeTaxAssetsAndLiabilityAbstract' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' xbrli:balance='credit' id='fil_AllowanceForDoubtfulTradeReceivablesDeferredTax' name='AllowanceForDoubtfulTradeReceivablesDeferredTax' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' xbrli:balance='credit' id='fil_AllowanceForDoubtfulOtherReceivablesDeferredTax' name='AllowanceForDoubtfulOtherReceivablesDeferredTax' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' xbrli:balance='debit' id='fil_ExpensesNotDeductibleInCurrentYear' name='ExpensesNotDeductibleInCurrentYear' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' xbrli:balance='debit' id='fil_PrcNetOperatingLossCarryForward' name='PrcNetOperatingLossCarryForward' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' xbrli:balance='debit' id='fil_USNetOperatingLossCarryForwards' name='USNetOperatingLossCarryForwards' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' xbrli:balance='debit' id='fil_TotalDeferredIncomeTaxAssets' name='TotalDeferredIncomeTaxAssets' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' xbrli:balance='credit' id='fil_ValuationAllowance' name='ValuationAllowance' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' xbrli:balance='debit' id='fil_NetDeferredIncomeTaxAsset' name='NetDeferredIncomeTaxAsset' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' xbrli:balance='debit' id='fil_IntangibleAssetsIncomeTaxLiability' name='IntangibleAssetsIncomeTaxLiability' />
	<element nillable='true' type='num:perShareItemType' substitutionGroup='xbrli:item' xbrli:periodType='instant' id='fil_ExercisePricePerShareExpiredUnexercised1' name='ExercisePricePerShareExpiredUnexercised1' />
	<element nillable='true' type='xbrli:sharesItemType' substitutionGroup='xbrli:item' xbrli:periodType='instant' id='fil_SharesOfRestrictedStockGrantedAndOutstandingUnderThe2010IncentivePlan' name='SharesOfRestrictedStockGrantedAndOutstandingUnderThe2010IncentivePlan' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' xbrli:balance='debit' id='fil_InterestExpense1' name='InterestExpense1' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' xbrli:balance='debit' id='fil_LossesFromNaturalDisaster' name='LossesFromNaturalDisaster' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' xbrli:balance='credit' id='fil_SubsidyIncome' name='SubsidyIncome' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' xbrli:balance='credit' id='fil_AdvancesForPurchasesOfEquipmentPaidWithBankerSAcceptances' name='AdvancesForPurchasesOfEquipmentPaidWithBankerSAcceptances' />
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	<element abstract='true' nillable='true' type='xbrli:stringItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' id='fil_LossesFromNaturalDisasterConsistsOfAbstract' name='LossesFromNaturalDisasterConsistsOfAbstract' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='instant' xbrli:balance='credit' id='fil_CompanySManufacturingFacilitiesAndInventorySustainedStormDamageOfInventoryRelatedCosts1' name='CompanySManufacturingFacilitiesAndInventorySustainedStormDamageOfInventoryRelatedCosts1' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='instant' xbrli:balance='credit' id='fil_CompanySManufacturingFacilitiesAndInventorySustainedStormDamageOfOfFacilitiesDamageCosts' name='CompanySManufacturingFacilitiesAndInventorySustainedStormDamageOfOfFacilitiesDamageCosts' />
	<element abstract='true' nillable='true' type='xbrli:stringItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' id='fil_InventoryConsistedOfTheFollowingAbstract' name='InventoryConsistedOfTheFollowingAbstract' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='instant' xbrli:balance='debit' id='fil_TotalInventory' name='TotalInventory' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='instant' xbrli:balance='credit' id='fil_ObsolescenceReserve' name='ObsolescenceReserve' />
	<element abstract='true' nillable='true' type='xbrli:stringItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' id='fil_PropertyAndEquipmentConsistedOfTheFollowingAbstract' name='PropertyAndEquipmentConsistedOfTheFollowingAbstract' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='instant' xbrli:balance='debit' id='fil_Propertyandequipmentnet1' name='Propertyandequipmentnet1' />
	<element nillable='true' type='xbrli:decimalItemType' substitutionGroup='xbrli:item' xbrli:periodType='instant' id='fil_PlantMachineryAndEquipmentMinimumLife' name='PlantMachineryAndEquipmentMinimumLife' />
	<element nillable='true' type='xbrli:decimalItemType' substitutionGroup='xbrli:item' xbrli:periodType='instant' id='fil_PlantMachineryAndEquipmentMaximumLife' name='PlantMachineryAndEquipmentMaximumLife' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='instant' xbrli:balance='debit' id='fil_AnnualAmortization2019' name='AnnualAmortization2019' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='instant' xbrli:balance='credit' id='fil_RevolvingLineOfCreditWithABankRmb' name='RevolvingLineOfCreditWithABankRmb' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='instant' xbrli:balance='credit' id='fil_TotalLoanFacilityAmountRmb800000001' name='TotalLoanFacilityAmountRmb800000001' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='instant' xbrli:balance='credit' id='fil_PrincipalPayments2019' name='PrincipalPayments2019' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='instant' xbrli:balance='credit' id='fil_TotalPrincipalPaymentsDue' name='TotalPrincipalPaymentsDue' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='instant' xbrli:balance='credit' id='fil_UndistributedEarningsOfHelpson' name='UndistributedEarningsOfHelpson' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='instant' xbrli:balance='credit' id='fil_InvestmentInHelpsonAForeignSubsidiaryForTheCompany' name='InvestmentInHelpsonAForeignSubsidiaryForTheCompany' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' xbrli:balance='debit' id='fil_TotalIncomeTaxExpense' name='TotalIncomeTaxExpense' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' xbrli:balance='credit' id='fil_Inventoryobsolescencereserve11' name='Inventoryobsolescencereserve11' />
	<element abstract='true' nillable='true' type='xbrli:stringItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' id='fil_ContractualCommitmentsDetailsAbstract' name='ContractualCommitmentsDetailsAbstract' />
	<element nillable='true' type='xbrli:monetaryItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' xbrli:balance='credit' id='fil_CompanyMadePaymentsAsPerConstructionAgreement' name='CompanyMadePaymentsAsPerConstructionAgreement' />
	<element abstract='true' nillable='true' type='xbrli:stringItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' id='fil_ConcentrationsDetailsAbstract' name='ConcentrationsDetailsAbstract' />
	<element nillable='true' type='num:percentItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' id='fil_SupplierAccountedForRawMaterialPurchases' name='SupplierAccountedForRawMaterialPurchases' />
	<element nillable='true' type='num:percentItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' id='fil_CustomerAccountedAccountsReceivable1stTime' name='CustomerAccountedAccountsReceivable1stTime' />
	<element nillable='true' type='num:percentItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' id='fil_CustomerAccountedAccountsReceivable2ndTime' name='CustomerAccountedAccountsReceivable2ndTime' />
	<element nillable='true' type='num:percentItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' id='fil_FirstProductAccountedForRevenue' name='FirstProductAccountedForRevenue' />
	<element nillable='true' type='num:percentItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' id='fil_SecondProductAccountedForRevenue' name='SecondProductAccountedForRevenue' />
	<element nillable='true' type='num:percentItemType' substitutionGroup='xbrli:item' xbrli:periodType='duration' id='fil_ThirdProductAccountedForRevenue' name='ThirdProductAccountedForRevenue' />
</schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.CAL
<SEQUENCE>15
<FILENAME>cphi-20141231_cal.xml
<TEXT>
<XBRL>
<?xml version='1.0' encoding='iso-8859-1'?>
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		xmlns:fil="http://www.chinapharmaholdings.com/20141231"
		xmlns:link="http://www.xbrl.org/2003/linkbase"
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	<link:roleRef roleURI="http://www.chinapharmaholdings.com/20141231/role/idr_CONSOLIDATEDBALANCESHEETS" xlink:type="simple" xlink:href="cphi-20141231.xsd#idr_CONSOLIDATEDBALANCESHEETS"/>
	<link:calculationLink xlink:type="extended" xlink:role="http://www.chinapharmaholdings.com/20141231/role/idr_CONSOLIDATEDBALANCESHEETS">
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		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_AdvancesForPurchasesOfIntangibleAssets' xlink:label='fil_AdvancesForPurchasesOfIntangibleAssets'/>
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		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_AdvancesToSuppliers' xlink:label='fil_AdvancesToSuppliers'/>
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		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_CashEquivalentsAtCarryingValue' xlink:label='us-gaap_CashEquivalentsAtCarryingValue'/>
		<link:calculationArc xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/summation-item' xlink:from='us-gaap_Assets' xlink:to='us-gaap_CashEquivalentsAtCarryingValue' use='optional' order='3.0' weight='1.0'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_Cash' xlink:label='us-gaap_Cash'/>
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	<roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodEndLabel" roleURI="http://www.xbrl.org/2009/role/negatedPeriodEndLabel"/>
	<roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodStartLabel" roleURI="http://www.xbrl.org/2009/role/negatedPeriodStartLabel"/>
	<roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel" roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel"/>
	<roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTotalLabel" roleURI="http://www.xbrl.org/2009/role/negatedTotalLabel"/>
	<link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_TotalLevel3' xlink:label='fil_TotalLevel3'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_TotalLevel3' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Total Level 3</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_TotalLevel3' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Bankers acceptance notes Level 3 total</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_TotalLevel3' xlink:to='lab_fil_TotalLevel3'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_PrcNetOperatingLossCarryForward' xlink:label='fil_PrcNetOperatingLossCarryForward'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_PrcNetOperatingLossCarryForward' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>PRC Net operating loss carry forward</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_PrcNetOperatingLossCarryForward' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>PRC Net operating loss carry forward</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_PrcNetOperatingLossCarryForward' xlink:to='lab_fil_PrcNetOperatingLossCarryForward'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_TradingSymbol' xlink:label='dei_TradingSymbol'/>
		<link:label xlink:type='resource' xlink:label='lab_dei_TradingSymbol' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Entity Trading Symbol</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='dei_TradingSymbol' xlink:to='lab_dei_TradingSymbol'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_ImpairmentLossesRelatingToThoseIntangibleAssets' xlink:label='fil_ImpairmentLossesRelatingToThoseIntangibleAssets'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_ImpairmentLossesRelatingToThoseIntangibleAssets' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Impairment losses relating to those intangible assets</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_ImpairmentLossesRelatingToThoseIntangibleAssets' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Impairment recognized during the period and allocated to the reportable segment that results from the write-down of indefinite-lived intangible assets after comparing the implied fair value of reporting unit indefinite-lived intangible assets with the carrying amount of that indefinite-lived intangible assets, which are assessed at least annually for impairment.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_ImpairmentLossesRelatingToThoseIntangibleAssets' xlink:to='lab_fil_ImpairmentLossesRelatingToThoseIntangibleAssets'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_GrossCarryingAmount' xlink:label='fil_GrossCarryingAmount'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_GrossCarryingAmount' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Gross carrying amount</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_GrossCarryingAmount' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Gross carrying amount</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_GrossCarryingAmount' xlink:to='lab_fil_GrossCarryingAmount'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_AllowanceForObsolescenceRawMaterials1' xlink:label='fil_AllowanceForObsolescenceRawMaterials1'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_AllowanceForObsolescenceRawMaterials1' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Allowance for obsolescence - raw materials</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_AllowanceForObsolescenceRawMaterials1' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>AllowanceForObsolescenceRawMaterials1</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_AllowanceForObsolescenceRawMaterials1' xlink:to='lab_fil_AllowanceForObsolescenceRawMaterials1'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_InventoryWorkInProcess' xlink:label='us-gaap_InventoryWorkInProcess'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_InventoryWorkInProcess' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Work in process</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_InventoryWorkInProcess' xlink:to='lab_us-gaap_InventoryWorkInProcess'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_InventoryConsistedOfTheFollowingAbstract' xlink:label='fil_InventoryConsistedOfTheFollowingAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_InventoryConsistedOfTheFollowingAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Inventory consisted of the following</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_InventoryConsistedOfTheFollowingAbstract' xlink:to='lab_fil_InventoryConsistedOfTheFollowingAbstract'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_EffectOfDilutiveSecuritiesAbstract' xlink:label='fil_EffectOfDilutiveSecuritiesAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_EffectOfDilutiveSecuritiesAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Effect of dilutive securities:</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_EffectOfDilutiveSecuritiesAbstract' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. [Abstract]</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_EffectOfDilutiveSecuritiesAbstract' xlink:to='lab_fil_EffectOfDilutiveSecuritiesAbstract'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_BASISOFPRESENTATIONBasicAndDilutedEarningsPerCommonShareDetailsAbstract' xlink:label='fil_BASISOFPRESENTATIONBasicAndDilutedEarningsPerCommonShareDetailsAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_BASISOFPRESENTATIONBasicAndDilutedEarningsPerCommonShareDetailsAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>BASIS OF PRESENTATION Basic and Diluted Earnings per Common Share</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_BASISOFPRESENTATIONBasicAndDilutedEarningsPerCommonShareDetailsAbstract' xlink:to='lab_fil_BASISOFPRESENTATIONBasicAndDilutedEarningsPerCommonShareDetailsAbstract'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ProductWarrantyDisclosureTextBlock' xlink:label='us-gaap_ProductWarrantyDisclosureTextBlock'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_ProductWarrantyDisclosureTextBlock' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>PRODUCT RECALL {1}</link:label>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_ProductWarrantyDisclosureTextBlock' xlink:role='http://www.xbrl.org/2003/role/terseLabel' xml:lang='en-US'>PRODUCT RECALL</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_ProductWarrantyDisclosureTextBlock' xlink:to='lab_us-gaap_ProductWarrantyDisclosureTextBlock'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_IncreaseDecreaseInCustomerAdvances' xlink:label='us-gaap_IncreaseDecreaseInCustomerAdvances'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_IncreaseDecreaseInCustomerAdvances' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Advances from customers {1}</link:label>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_IncreaseDecreaseInCustomerAdvances' xlink:role='http://www.xbrl.org/2003/role/terseLabel' xml:lang='en-US'>Advances from customers</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_IncreaseDecreaseInCustomerAdvances' xlink:to='lab_us-gaap_IncreaseDecreaseInCustomerAdvances'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_StatementLineItems' xlink:label='us-gaap_StatementLineItems'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_StatementLineItems' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Statement {1}</link:label>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_StatementLineItems' xlink:role='http://www.xbrl.org/2003/role/terseLabel' xml:lang='en-US'>Statement</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_StatementLineItems' xlink:to='lab_us-gaap_StatementLineItems'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OperatingIncomeLoss' xlink:label='us-gaap_OperatingIncomeLoss'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_OperatingIncomeLoss' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Loss from operations</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_OperatingIncomeLoss' xlink:to='lab_us-gaap_OperatingIncomeLoss'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_AllowanceForObsolescenceOfInventory' xlink:label='fil_AllowanceForObsolescenceOfInventory'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_AllowanceForObsolescenceOfInventory' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Allowance for obsolescence of inventory</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_AllowanceForObsolescenceOfInventory' xlink:to='lab_fil_AllowanceForObsolescenceOfInventory'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_AllowanceForDoubtfulAccountsOnOtherReceivables' xlink:label='fil_AllowanceForDoubtfulAccountsOnOtherReceivables'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_AllowanceForDoubtfulAccountsOnOtherReceivables' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Allowance for doubtful accounts on other receivables</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_AllowanceForDoubtfulAccountsOnOtherReceivables' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>A valuation allowance for other receivables due to an Entity within one year (or the normal operating cycle, whichever is longer) that are expected to be uncollectible</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_AllowanceForDoubtfulAccountsOnOtherReceivables' xlink:to='lab_fil_AllowanceForDoubtfulAccountsOnOtherReceivables'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_CashEquivalentsAtCarryingValue' xlink:label='us-gaap_CashEquivalentsAtCarryingValue'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_CashEquivalentsAtCarryingValue' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Banker&apos;s acceptances</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_CashEquivalentsAtCarryingValue' xlink:to='lab_us-gaap_CashEquivalentsAtCarryingValue'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCurrentReportingStatus' xlink:label='dei_EntityCurrentReportingStatus'/>
		<link:label xlink:type='resource' xlink:label='lab_dei_EntityCurrentReportingStatus' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Entity Current Reporting Status</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='dei_EntityCurrentReportingStatus' xlink:to='lab_dei_EntityCurrentReportingStatus'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_SharesOfRestrictedStockGrantedAndOutstandingUnderThe2010IncentivePlan' xlink:label='fil_SharesOfRestrictedStockGrantedAndOutstandingUnderThe2010IncentivePlan'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_SharesOfRestrictedStockGrantedAndOutstandingUnderThe2010IncentivePlan' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>shares of restricted stock granted and outstanding under the 2010 Incentive Plan</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_SharesOfRestrictedStockGrantedAndOutstandingUnderThe2010IncentivePlan' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>shares of restricted stock granted and outstanding under the 2010 Incentive Plan</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_SharesOfRestrictedStockGrantedAndOutstandingUnderThe2010IncentivePlan' xlink:to='lab_fil_SharesOfRestrictedStockGrantedAndOutstandingUnderThe2010IncentivePlan'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_FAIRVALUEMEASUREMENTSAtReportingDateUsingAbstract' xlink:label='fil_FAIRVALUEMEASUREMENTSAtReportingDateUsingAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_FAIRVALUEMEASUREMENTSAtReportingDateUsingAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>FAIR VALUE MEASUREMENTS At Reporting Date Using</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_FAIRVALUEMEASUREMENTSAtReportingDateUsingAbstract' xlink:to='lab_fil_FAIRVALUEMEASUREMENTSAtReportingDateUsingAbstract'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_IncomeTaxExpenseReconciliation' xlink:label='fil_IncomeTaxExpenseReconciliation'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_IncomeTaxExpenseReconciliation' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Income tax expense Reconciliation</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_IncomeTaxExpenseReconciliation' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>The sum of the differences between total income tax expense or benefit as reported in the Income Statement for the period and the expected income tax expense or benefit computed by applying the domestic federal statutory income tax rates to pretax income from continuing operations attributable to nondeductible expenses under enacted tax laws, or differences in the methodologies used to determine expense amounts for financial statements prepared in accordance with generally accepted accounting principles and enacted tax laws.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_IncomeTaxExpenseReconciliation' xlink:to='lab_fil_IncomeTaxExpenseReconciliation'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_PrincipalPaymentsRequiredForTheNextFiveYearsAsOfDecember312013AreAsFollowsAbstract' xlink:label='fil_PrincipalPaymentsRequiredForTheNextFiveYearsAsOfDecember312013AreAsFollowsAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_PrincipalPaymentsRequiredForTheNextFiveYearsAsOfDecember312013AreAsFollowsAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Principal payments required for the next five years as of December 31, 2013 are as follows:</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_PrincipalPaymentsRequiredForTheNextFiveYearsAsOfDecember312013AreAsFollowsAbstract' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Construction loan amount available to draw by the company [Abstract]</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_PrincipalPaymentsRequiredForTheNextFiveYearsAsOfDecember312013AreAsFollowsAbstract' xlink:to='lab_fil_PrincipalPaymentsRequiredForTheNextFiveYearsAsOfDecember312013AreAsFollowsAbstract'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_RelatedPartyTransactionMemberOwingsAbstract' xlink:label='fil_RelatedPartyTransactionMemberOwingsAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_RelatedPartyTransactionMemberOwingsAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>RELATED PARTY TRANSACTIONS Owings</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_RelatedPartyTransactionMemberOwingsAbstract' xlink:to='lab_fil_RelatedPartyTransactionMemberOwingsAbstract'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_AssetsDepreciationAbstract' xlink:label='fil_AssetsDepreciationAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_AssetsDepreciationAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Assets Depreciation</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_AssetsDepreciationAbstract' xlink:to='lab_fil_AssetsDepreciationAbstract'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_PropertyAndEquipmentNet' xlink:label='fil_PropertyAndEquipmentNet'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_PropertyAndEquipmentNet' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Property and Equipment, net</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_PropertyAndEquipmentNet' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Tangible assets that are held by an entity for use in the production or supply of goods and services, for rental to others, or for administrative purposes and that are expected to provide economic benefit for more than one year; net of accumulated depreciation. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_PropertyAndEquipmentNet' xlink:to='lab_fil_PropertyAndEquipmentNet'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_Propertyandequipmentnet1' xlink:label='fil_Propertyandequipmentnet1'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_Propertyandequipmentnet1' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Property and Equipment, net;</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_Propertyandequipmentnet1' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Tangible assets that are held by an entity for use in the production or supply of goods and services, for rental to others, or for administrative purposes and that are expected to provide economic benefit for more than one year; net of accumulated depreciation. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_Propertyandequipmentnet1' xlink:to='lab_fil_Propertyandequipmentnet1'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_AmountCollectedInCash' xlink:label='fil_AmountCollectedInCash'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_AmountCollectedInCash' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Amount collected in cash</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_AmountCollectedInCash' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Amount collected in cash out of the Management negotiated settlement offers with certain customers in accounts receivable balances that were greater than one (1) year past due.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_AmountCollectedInCash' xlink:to='lab_fil_AmountCollectedInCash'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_PercentageOfShareOwnedByChinaPharmaHoldingsIncOfHelpsonMedicalAmpBiotechnologyCoLtd1' xlink:label='fil_PercentageOfShareOwnedByChinaPharmaHoldingsIncOfHelpsonMedicalAmpBiotechnologyCoLtd1'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_PercentageOfShareOwnedByChinaPharmaHoldingsIncOfHelpsonMedicalAmpBiotechnologyCoLtd1' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Percentage of share owned by China Pharma Holdings Inc of Helpson Medical &amp; Biotechnology Co., Ltd.</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_PercentageOfShareOwnedByChinaPharmaHoldingsIncOfHelpsonMedicalAmpBiotechnologyCoLtd1' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>PercentageOfShareOwnedByChinaPharmaHoldingsIncOfHelpsonMedicalAmpBiotechnologyCoLtd1</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_PercentageOfShareOwnedByChinaPharmaHoldingsIncOfHelpsonMedicalAmpBiotechnologyCoLtd1' xlink:to='lab_fil_PercentageOfShareOwnedByChinaPharmaHoldingsIncOfHelpsonMedicalAmpBiotechnologyCoLtd1'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock' xlink:label='us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Schedule of Income Tax Rate Reconciliation</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock' xlink:to='lab_us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_IntangibleAssetsTablesAbstract' xlink:label='fil_IntangibleAssetsTablesAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_IntangibleAssetsTablesAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Intangible Assets (Tables)</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_IntangibleAssetsTablesAbstract' xlink:to='lab_fil_IntangibleAssetsTablesAbstract'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_CashAndCashEquivalentsPolicyTextBlock' xlink:label='us-gaap_CashAndCashEquivalentsPolicyTextBlock'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Cash and Cash Equivalents, Policy</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_CashAndCashEquivalentsPolicyTextBlock' xlink:to='lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_IntangibleAssetsDisclosureTextBlock' xlink:label='us-gaap_IntangibleAssetsDisclosureTextBlock'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_IntangibleAssetsDisclosureTextBlock' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>INTANGIBLE ASSETS {1}</link:label>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_IntangibleAssetsDisclosureTextBlock' xlink:role='http://www.xbrl.org/2003/role/terseLabel' xml:lang='en-US'>INTANGIBLE ASSETS</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_IntangibleAssetsDisclosureTextBlock' xlink:to='lab_us-gaap_IntangibleAssetsDisclosureTextBlock'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract' xlink:label='us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract' xlink:to='lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities' xlink:label='us-gaap_NetCashProvidedByUsedInOperatingActivities'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_NetCashProvidedByUsedInOperatingActivities' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Net Cash Provided by Operating Activities</link:label>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_NetCashProvidedByUsedInOperatingActivities' xlink:role='http://www.xbrl.org/2003/role/totalLabel' xml:lang='en-US'>Net Cash Provided by Operating Activities</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_NetCashProvidedByUsedInOperatingActivities' xlink:to='lab_us-gaap_NetCashProvidedByUsedInOperatingActivities'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OperatingExpenses' xlink:label='us-gaap_OperatingExpenses'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_OperatingExpenses' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Total operating expenses</link:label>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_OperatingExpenses' xlink:role='http://www.xbrl.org/2003/role/totalLabel' xml:lang='en-US'>Total operating expenses</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_OperatingExpenses' xlink:to='lab_us-gaap_OperatingExpenses'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_InventoryWriteDown' xlink:label='us-gaap_InventoryWriteDown'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_InventoryWriteDown' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Inventory obsolescence</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_InventoryWriteDown' xlink:to='lab_us-gaap_InventoryWriteDown'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_LiabilitiesNoncurrentAbstract' xlink:label='us-gaap_LiabilitiesNoncurrentAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_LiabilitiesNoncurrentAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Non-current Liabilities:</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_LiabilitiesNoncurrentAbstract' xlink:to='lab_us-gaap_LiabilitiesNoncurrentAbstract'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_AccountsPayableOtherCurrent' xlink:label='us-gaap_AccountsPayableOtherCurrent'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_AccountsPayableOtherCurrent' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Other payables</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_AccountsPayableOtherCurrent' xlink:to='lab_us-gaap_AccountsPayableOtherCurrent'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_PrepaidExpenseCurrentAndNoncurrent' xlink:label='us-gaap_PrepaidExpenseCurrentAndNoncurrent'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_PrepaidExpenseCurrentAndNoncurrent' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Prepaid expenses</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_PrepaidExpenseCurrentAndNoncurrent' xlink:to='lab_us-gaap_PrepaidExpenseCurrentAndNoncurrent'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_SecondProductAccountedForRevenue' xlink:label='fil_SecondProductAccountedForRevenue'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_SecondProductAccountedForRevenue' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Second product accounted for revenue</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_SecondProductAccountedForRevenue' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Second product accounted for revenue</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_SecondProductAccountedForRevenue' xlink:to='lab_fil_SecondProductAccountedForRevenue'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_WarrantsEndRangeExercisePrice' xlink:label='fil_WarrantsEndRangeExercisePrice'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_WarrantsEndRangeExercisePrice' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Warrants end range exercise price</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_WarrantsEndRangeExercisePrice' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Warrants start range exercise price</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_WarrantsEndRangeExercisePrice' xlink:to='lab_fil_WarrantsEndRangeExercisePrice'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_BankersAcceptanceNotesLevel2' xlink:label='fil_BankersAcceptanceNotesLevel2'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_BankersAcceptanceNotesLevel2' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Bankers acceptance notes Level 2</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_BankersAcceptanceNotesLevel2' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Bankers acceptance notes Level 2</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_BankersAcceptanceNotesLevel2' xlink:to='lab_fil_BankersAcceptanceNotesLevel2'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_EffectOfTaxHolidayAmountedToAChangeInTheTaxExpenseBenefitOf' xlink:label='fil_EffectOfTaxHolidayAmountedToAChangeInTheTaxExpenseBenefitOf'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_EffectOfTaxHolidayAmountedToAChangeInTheTaxExpenseBenefitOf' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Effect of tax holiday amounted to a change in the tax expense (benefit) of</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_EffectOfTaxHolidayAmountedToAChangeInTheTaxExpenseBenefitOf' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Effect of tax holiday amounted to a change in the tax expense (benefit) of</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_EffectOfTaxHolidayAmountedToAChangeInTheTaxExpenseBenefitOf' xlink:to='lab_fil_EffectOfTaxHolidayAmountedToAChangeInTheTaxExpenseBenefitOf'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_CurrentIncomeTaxExpenseBenefit' xlink:label='us-gaap_CurrentIncomeTaxExpenseBenefit'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_CurrentIncomeTaxExpenseBenefit' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Current tax provision.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_CurrentIncomeTaxExpenseBenefit' xlink:to='lab_us-gaap_CurrentIncomeTaxExpenseBenefit'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_EnterpriseIncomeTaxRatesForTheYear2016ThereAfter' xlink:label='fil_EnterpriseIncomeTaxRatesForTheYear2016ThereAfter'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_EnterpriseIncomeTaxRatesForTheYear2016ThereAfter' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Enterprise Income Tax Rates for the year 2016 There after</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_EnterpriseIncomeTaxRatesForTheYear2016ThereAfter' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Enterprise Income Tax Rates for the year 2016 There after</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_EnterpriseIncomeTaxRatesForTheYear2016ThereAfter' xlink:to='lab_fil_EnterpriseIncomeTaxRatesForTheYear2016ThereAfter'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_TotalPrincipalPaymentsDue' xlink:label='fil_TotalPrincipalPaymentsDue'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_TotalPrincipalPaymentsDue' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Total principal payments due</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_TotalPrincipalPaymentsDue' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Total Principal amount due by the company</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_TotalPrincipalPaymentsDue' xlink:to='lab_fil_TotalPrincipalPaymentsDue'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_AnnualAmortization2018' xlink:label='fil_AnnualAmortization2018'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_AnnualAmortization2018' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Annual amortization 2018</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_AnnualAmortization2018' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>The aggregate amount of recurring noncash expense charged against earnings in the period to allocate the cost of assets over their estimated remaining economic lives</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_AnnualAmortization2018' xlink:to='lab_fil_AnnualAmortization2018'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_MotorVehicleMinimumLife' xlink:label='fil_MotorVehicleMinimumLife'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_MotorVehicleMinimumLife' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Motor vehicle minimum life</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_MotorVehicleMinimumLife' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>The minimum useful life of long lived, physical assets used in the normal conduct of business and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_MotorVehicleMinimumLife' xlink:to='lab_fil_MotorVehicleMinimumLife'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_Rawmaterials1' xlink:label='fil_Rawmaterials1'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_Rawmaterials1' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Raw materials</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_Rawmaterials1' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Rawmaterials1</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_Rawmaterials1' xlink:to='lab_fil_Rawmaterials1'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_LossesFromNaturalDisasterConsistsOfAbstract' xlink:label='fil_LossesFromNaturalDisasterConsistsOfAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_LossesFromNaturalDisasterConsistsOfAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Losses from natural disaster consists of</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_LossesFromNaturalDisasterConsistsOfAbstract' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_LossesFromNaturalDisasterConsistsOfAbstract' xlink:to='lab_fil_LossesFromNaturalDisasterConsistsOfAbstract'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_OtherExpenses2Abstract' xlink:label='fil_OtherExpenses2Abstract'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_OtherExpenses2Abstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Other expenses:</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_OtherExpenses2Abstract' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Amount contributed to retirement benefit plans for the period [Abstract]</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_OtherExpenses2Abstract' xlink:to='lab_fil_OtherExpenses2Abstract'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_FairValueMeasurementsTablesAbstract' xlink:label='fil_FairValueMeasurementsTablesAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_FairValueMeasurementsTablesAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>FAIR VALUE MEASUREMENTS (Tables)</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_FairValueMeasurementsTablesAbstract' xlink:to='lab_fil_FairValueMeasurementsTablesAbstract'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_PropertyPlantAndEquipmentTextBlock' xlink:label='us-gaap_PropertyPlantAndEquipmentTextBlock'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_PropertyPlantAndEquipmentTextBlock' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Property and equipment consists</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_PropertyPlantAndEquipmentTextBlock' xlink:to='lab_us-gaap_PropertyPlantAndEquipmentTextBlock'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ResearchAndDevelopmentExpensePolicy' xlink:label='us-gaap_ResearchAndDevelopmentExpensePolicy'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_ResearchAndDevelopmentExpensePolicy' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Research and Development Expense, Policy</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_ResearchAndDevelopmentExpensePolicy' xlink:to='lab_us-gaap_ResearchAndDevelopmentExpensePolicy'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_PRODUCTRECALLAbstract' xlink:label='fil_PRODUCTRECALLAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_PRODUCTRECALLAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>PRODUCT RECALL</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_PRODUCTRECALLAbstract' xlink:to='lab_fil_PRODUCTRECALLAbstract'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract' xlink:label='us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Supplemental Noncash Investing and Financing Activities:</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract' xlink:to='lab_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_IncreaseDecreaseInOperatingCapitalAbstract' xlink:label='us-gaap_IncreaseDecreaseInOperatingCapitalAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Changes in assets and liabilities:</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_IncreaseDecreaseInOperatingCapitalAbstract' xlink:to='lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_ForeignCurrencyTranslationAdjustment' xlink:label='fil_ForeignCurrencyTranslationAdjustment'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_ForeignCurrencyTranslationAdjustment' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Foreign currency translation adjustment</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_ForeignCurrencyTranslationAdjustment' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Amount after tax and reclassification adjustments, resulting from the process of expressing in the reporting currency of the reporting entity those amounts that are denominated or measured in a different currency, and from transactions whose terms are denominated in a currency other than the entity&apos;s functional currency, which is attributable to the parent entity.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_ForeignCurrencyTranslationAdjustment' xlink:to='lab_fil_ForeignCurrencyTranslationAdjustment'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_PreferredStockValue' xlink:label='us-gaap_PreferredStockValue'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_PreferredStockValue' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Preferred stock, $0.001 par value; 5,000,000 shares authorized; no shares issued or outstanding</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_PreferredStockValue' xlink:to='lab_us-gaap_PreferredStockValue'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_PercentageOfNoCustomerAccountedForMoreThanSales' xlink:label='fil_PercentageOfNoCustomerAccountedForMoreThanSales'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_PercentageOfNoCustomerAccountedForMoreThanSales' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Customer accounted for sales</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_PercentageOfNoCustomerAccountedForMoreThanSales' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Percentage of no customer accounted for more than sales</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_PercentageOfNoCustomerAccountedForMoreThanSales' xlink:to='lab_fil_PercentageOfNoCustomerAccountedForMoreThanSales'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_NetDeferredIncomeTaxAsset' xlink:label='fil_NetDeferredIncomeTaxAsset'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_NetDeferredIncomeTaxAsset' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Net deferred income tax asset.</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_NetDeferredIncomeTaxAsset' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Amount of deferred tax assets net of valuation allowance current and noncurrent deferred tax liabilities.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_NetDeferredIncomeTaxAsset' xlink:to='lab_fil_NetDeferredIncomeTaxAsset'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_Inventoryobsolescencereserve11' xlink:label='fil_Inventoryobsolescencereserve11'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_Inventoryobsolescencereserve11' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Inventory obsolescence reserve {1}</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_Inventoryobsolescencereserve11' xlink:role='http://www.xbrl.org/2003/role/terseLabel' xml:lang='en-US'>Inventory obsolescence reserve</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_Inventoryobsolescencereserve11' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Inventoryobsolescencereserve11</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_Inventoryobsolescencereserve11' xlink:to='lab_fil_Inventoryobsolescencereserve11'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_EffectOfTaxHoliday' xlink:label='fil_EffectOfTaxHoliday'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_EffectOfTaxHoliday' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Effect of tax holiday</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_EffectOfTaxHoliday' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>The portion of the difference between the effective income tax rate and domestic federal statutory income tax rate attributable to income that is exempt from income tax because of tax holidays an entity has received. A tax &quot;holiday&quot; refers to the tax benefit derived from a jurisdiction that provides an exemption from income taxes for some defined period of time as an incentive to attract business.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_EffectOfTaxHoliday' xlink:to='lab_fil_EffectOfTaxHoliday'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_INCOMETAXESUndistributedEarningsAbstract' xlink:label='fil_INCOMETAXESUndistributedEarningsAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_INCOMETAXESUndistributedEarningsAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>INCOME TAXES Undistributed Earnings</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_INCOMETAXESUndistributedEarningsAbstract' xlink:to='lab_fil_INCOMETAXESUndistributedEarningsAbstract'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_TotalInventoryNet' xlink:label='fil_TotalInventoryNet'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_TotalInventoryNet' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Total Inventory net</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_TotalInventoryNet' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Carrying amount (lower of cost or market) as of the balance sheet date of inventories less all valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer).</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_TotalInventoryNet' xlink:to='lab_fil_TotalInventoryNet'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_OfficeEquipment1' xlink:label='fil_OfficeEquipment1'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_OfficeEquipment1' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Office equipment</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_OfficeEquipment1' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Gross amount, at the balance sheet date, of long-lived assets under construction that include construction costs to date on capital projects that have not been completed and assets being constructed that are not ready to be placed into service.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_OfficeEquipment1' xlink:to='lab_fil_OfficeEquipment1'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_PermitOfLandUse' xlink:label='fil_PermitOfLandUse'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_PermitOfLandUse' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Permit of land use</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_PermitOfLandUse' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>The amount of permit of land use as on the date.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_PermitOfLandUse' xlink:to='lab_fil_PermitOfLandUse'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_BasisOfPresentationTablesAbstract' xlink:label='fil_BasisOfPresentationTablesAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_BasisOfPresentationTablesAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>BASIS OF PRESENTATION (Tables)</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_BasisOfPresentationTablesAbstract' xlink:to='lab_fil_BasisOfPresentationTablesAbstract'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_AdvertisingCostsPolicyTextBlock' xlink:label='us-gaap_AdvertisingCostsPolicyTextBlock'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_AdvertisingCostsPolicyTextBlock' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Advertising Costs, Policy</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_AdvertisingCostsPolicyTextBlock' xlink:to='lab_us-gaap_AdvertisingCostsPolicyTextBlock'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_AllowanceForCreditLossesTextBlock' xlink:label='us-gaap_AllowanceForCreditLossesTextBlock'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_AllowanceForCreditLossesTextBlock' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Trade Accounts Receivable and Allowance for Doubtful Accounts</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_AllowanceForCreditLossesTextBlock' xlink:to='lab_us-gaap_AllowanceForCreditLossesTextBlock'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_UseOfEstimates' xlink:label='us-gaap_UseOfEstimates'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_UseOfEstimates' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Accounting Estimates</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_UseOfEstimates' xlink:to='lab_us-gaap_UseOfEstimates'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_CommitmentAndContingenciesAbstract' xlink:label='fil_CommitmentAndContingenciesAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_CommitmentAndContingenciesAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>COMMITMENTS AND CONTINGENCIES</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_CommitmentAndContingenciesAbstract' xlink:to='lab_fil_CommitmentAndContingenciesAbstract'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_IncomeTaxDisclosureAbstract' xlink:label='us-gaap_IncomeTaxDisclosureAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_IncomeTaxDisclosureAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>INCOME TAXES</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_IncomeTaxDisclosureAbstract' xlink:to='lab_us-gaap_IncomeTaxDisclosureAbstract'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_DebtDisclosureTextBlock' xlink:label='us-gaap_DebtDisclosureTextBlock'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_DebtDisclosureTextBlock' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>NOTES PAYABLES {1}</link:label>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_DebtDisclosureTextBlock' xlink:role='http://www.xbrl.org/2003/role/terseLabel' xml:lang='en-US'>NOTES PAYABLES</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_DebtDisclosureTextBlock' xlink:to='lab_us-gaap_DebtDisclosureTextBlock'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_AdvancesForPurchasesOfIntangiblesPaidWithBankerSAcceptances' xlink:label='fil_AdvancesForPurchasesOfIntangiblesPaidWithBankerSAcceptances'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_AdvancesForPurchasesOfIntangiblesPaidWithBankerSAcceptances' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Advances for purchases of intangibles paid with banker&apos;s acceptances</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_AdvancesForPurchasesOfIntangiblesPaidWithBankerSAcceptances' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>AdvancesForPurchasesOfIntangiblesPaidWithBankerSAcceptances</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_AdvancesForPurchasesOfIntangiblesPaidWithBankerSAcceptances' xlink:to='lab_fil_AdvancesForPurchasesOfIntangiblesPaidWithBankerSAcceptances'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_AccountsReceivableCollectedWithBankerSAcceptances' xlink:label='fil_AccountsReceivableCollectedWithBankerSAcceptances'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_AccountsReceivableCollectedWithBankerSAcceptances' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Accounts receivable collected with banker&apos;s acceptances</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_AccountsReceivableCollectedWithBankerSAcceptances' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Accounts receivable collected with banker&apos;s acceptances</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_AccountsReceivableCollectedWithBankerSAcceptances' xlink:to='lab_fil_AccountsReceivableCollectedWithBankerSAcceptances'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities' xlink:label='us-gaap_NetCashProvidedByUsedInInvestingActivities'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_NetCashProvidedByUsedInInvestingActivities' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Net Cash Used in Investing Activities</link:label>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_NetCashProvidedByUsedInInvestingActivities' xlink:role='http://www.xbrl.org/2003/role/totalLabel' xml:lang='en-US'>Net Cash Used in Investing Activities</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_NetCashProvidedByUsedInInvestingActivities' xlink:to='lab_us-gaap_NetCashProvidedByUsedInInvestingActivities'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_PaymentsToAcquirePropertyPlantAndEquipment' xlink:label='us-gaap_PaymentsToAcquirePropertyPlantAndEquipment'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Purchases of property and equipment</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_PaymentsToAcquirePropertyPlantAndEquipment' xlink:to='lab_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OtherIncomeAndExpensesAbstract' xlink:label='us-gaap_OtherIncomeAndExpensesAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_OtherIncomeAndExpensesAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Other income (expense):</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_OtherIncomeAndExpensesAbstract' xlink:to='lab_us-gaap_OtherIncomeAndExpensesAbstract'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_StockholdersEquityNumberOfSharesParValueAndOtherDisclosuresAbstract' xlink:label='us-gaap_StockholdersEquityNumberOfSharesParValueAndOtherDisclosuresAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_StockholdersEquityNumberOfSharesParValueAndOtherDisclosuresAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Stockholders equity number of shares par value and other disclosures</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_StockholdersEquityNumberOfSharesParValueAndOtherDisclosuresAbstract' xlink:to='lab_us-gaap_StockholdersEquityNumberOfSharesParValueAndOtherDisclosuresAbstract'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_DueToRelatedPartiesCurrent' xlink:label='us-gaap_DueToRelatedPartiesCurrent'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_DueToRelatedPartiesCurrent' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Other payables - related parties</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_DueToRelatedPartiesCurrent' xlink:to='lab_us-gaap_DueToRelatedPartiesCurrent'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCentralIndexKey' xlink:label='dei_EntityCentralIndexKey'/>
		<link:label xlink:type='resource' xlink:label='lab_dei_EntityCentralIndexKey' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Entity Central Index Key</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='dei_EntityCentralIndexKey' xlink:to='lab_dei_EntityCentralIndexKey'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentPeriodEndDate' xlink:label='dei_DocumentPeriodEndDate'/>
		<link:label xlink:type='resource' xlink:label='lab_dei_DocumentPeriodEndDate' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Document Period End Date</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='dei_DocumentPeriodEndDate' xlink:to='lab_dei_DocumentPeriodEndDate'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentType' xlink:label='dei_DocumentType'/>
		<link:label xlink:type='resource' xlink:label='lab_dei_DocumentType' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Document Type</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='dei_DocumentType' xlink:to='lab_dei_DocumentType'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_CustomerAccountedAccountsReceivable1stTime' xlink:label='fil_CustomerAccountedAccountsReceivable1stTime'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_CustomerAccountedAccountsReceivable1stTime' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Customer accounted accounts receivable 1st time</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_CustomerAccountedAccountsReceivable1stTime' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Customer accounted accounts receivable 1st time</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_CustomerAccountedAccountsReceivable1stTime' xlink:to='lab_fil_CustomerAccountedAccountsReceivable1stTime'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_PreferredSharesAuthorized' xlink:label='fil_PreferredSharesAuthorized'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_PreferredSharesAuthorized' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Preferred shares authorized</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_PreferredSharesAuthorized' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity&apos;s charter and bylaws.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_PreferredSharesAuthorized' xlink:to='lab_fil_PreferredSharesAuthorized'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_BankersAcceptanceNotes' xlink:label='fil_BankersAcceptanceNotes'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_BankersAcceptanceNotes' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Bankers acceptance notes</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_BankersAcceptanceNotes' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Bankers acceptance notes,</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_BankersAcceptanceNotes' xlink:to='lab_fil_BankersAcceptanceNotes'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_EnterpriseIncomeTaxRatesForTheYear2014' xlink:label='fil_EnterpriseIncomeTaxRatesForTheYear2014'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_EnterpriseIncomeTaxRatesForTheYear2014' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Enterprise Income Tax Rates for the year 2014</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_EnterpriseIncomeTaxRatesForTheYear2014' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>EnterpriseIncomeTaxRatesForTheYear2014</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_EnterpriseIncomeTaxRatesForTheYear2014' xlink:to='lab_fil_EnterpriseIncomeTaxRatesForTheYear2014'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_PrincipalPayments2018' xlink:label='fil_PrincipalPayments2018'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_PrincipalPayments2018' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Principal Payments 2018</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_PrincipalPayments2018' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Amount of the total principal payments made during the annual reporting period.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_PrincipalPayments2018' xlink:to='lab_fil_PrincipalPayments2018'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_OutstandingBalanceDueUnderRevolvingLineOfCreditRMB30000000' xlink:label='fil_OutstandingBalanceDueUnderRevolvingLineOfCreditRMB30000000'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_OutstandingBalanceDueUnderRevolvingLineOfCreditRMB30000000' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Outstanding balance due under revolving line of credit (RMB 30,000,000)</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_OutstandingBalanceDueUnderRevolvingLineOfCreditRMB30000000' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Outstanding balance due under revolving line of credit (RMB 30,000,000)</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_OutstandingBalanceDueUnderRevolvingLineOfCreditRMB30000000' xlink:to='lab_fil_OutstandingBalanceDueUnderRevolvingLineOfCreditRMB30000000'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_RevolvingLineOfCreditWithABankRmb' xlink:label='fil_RevolvingLineOfCreditWithABankRmb'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_RevolvingLineOfCreditWithABankRmb' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Revolving line of credit with a bank (RMB)</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_RevolvingLineOfCreditWithABankRmb' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank&apos;s commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_RevolvingLineOfCreditWithABankRmb' xlink:to='lab_fil_RevolvingLineOfCreditWithABankRmb'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_AnnualAmortization2015' xlink:label='fil_AnnualAmortization2015'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_AnnualAmortization2015' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Annual amortization 2015</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_AnnualAmortization2015' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>The aggregate amount of recurring noncash expense charged against earnings in the period to allocate the cost of assets over their estimated remaining economic lives</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_AnnualAmortization2015' xlink:to='lab_fil_AnnualAmortization2015'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_PermitOfLandUseMaximumLife' xlink:label='fil_PermitOfLandUseMaximumLife'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_PermitOfLandUseMaximumLife' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Permit of land use maximum life</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_PermitOfLandUseMaximumLife' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>The maximum useful life of long-lived, physical assets used in the normal conduct of business and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_PermitOfLandUseMaximumLife' xlink:to='lab_fil_PermitOfLandUseMaximumLife'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_ResearchAndDevelopmentExpenses' xlink:label='fil_ResearchAndDevelopmentExpenses'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_ResearchAndDevelopmentExpenses' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Research and development expenses {1}</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_ResearchAndDevelopmentExpenses' xlink:role='http://www.xbrl.org/2003/role/terseLabel' xml:lang='en-US'>Research and development expenses</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_ResearchAndDevelopmentExpenses' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Research and development expense during the period related to the costs of developing and achieving technological feasibility of a computer software product to be sold, leased, or otherwise marketed.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_ResearchAndDevelopmentExpenses' xlink:to='lab_fil_ResearchAndDevelopmentExpenses'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_Dilutedweightedaveragecommonsharesoutstanding2' xlink:label='fil_Dilutedweightedaveragecommonsharesoutstanding2'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_Dilutedweightedaveragecommonsharesoutstanding2' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Diluted weighted-average common shares outstanding</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_Dilutedweightedaveragecommonsharesoutstanding2' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>DilutedWeightedAverageCommonSharesOutstanding2</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_Dilutedweightedaveragecommonsharesoutstanding2' xlink:to='lab_fil_Dilutedweightedaveragecommonsharesoutstanding2'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_IncomeTaxesTablesAbstract' xlink:label='fil_IncomeTaxesTablesAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_IncomeTaxesTablesAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>INCOME TAXES (Tables)</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_IncomeTaxesTablesAbstract' xlink:to='lab_fil_IncomeTaxesTablesAbstract'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_ScheduleOfLongTermDebtInstrumentsAbstract' xlink:label='fil_ScheduleOfLongTermDebtInstrumentsAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_ScheduleOfLongTermDebtInstrumentsAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Schedule of Long-term Debt Instruments:</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_ScheduleOfLongTermDebtInstrumentsAbstract' xlink:to='lab_fil_ScheduleOfLongTermDebtInstrumentsAbstract'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock' xlink:label='us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Recently Announced Accounting Standards</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock' xlink:to='lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_CommitmentsAndContingenciesDisclosureTextBlock' xlink:label='us-gaap_CommitmentsAndContingenciesDisclosureTextBlock'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>COMMITMENTS AND CONTINGENCIES {1}</link:label>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock' xlink:role='http://www.xbrl.org/2003/role/terseLabel' xml:lang='en-US'>COMMITMENTS AND CONTINGENCIES</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_CommitmentsAndContingenciesDisclosureTextBlock' xlink:to='lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_LongTermDebtTextBlock' xlink:label='us-gaap_LongTermDebtTextBlock'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_LongTermDebtTextBlock' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>CONSTRUCTION LOAN FACILITY {1}</link:label>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_LongTermDebtTextBlock' xlink:role='http://www.xbrl.org/2003/role/terseLabel' xml:lang='en-US'>CONSTRUCTION LOAN FACILITY</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_LongTermDebtTextBlock' xlink:to='lab_us-gaap_LongTermDebtTextBlock'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_PropertyPlantAndEquipmentAbstract' xlink:label='us-gaap_PropertyPlantAndEquipmentAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_PropertyPlantAndEquipmentAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>PROPERTY AND EQUIPMENT</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_PropertyPlantAndEquipmentAbstract' xlink:to='lab_us-gaap_PropertyPlantAndEquipmentAbstract'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_AdvancesForPurchasesOfEquipmentPaidWithBankerSAcceptances' xlink:label='fil_AdvancesForPurchasesOfEquipmentPaidWithBankerSAcceptances'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_AdvancesForPurchasesOfEquipmentPaidWithBankerSAcceptances' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Advances for purchases of equipment paid with banker&apos;s acceptances</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_AdvancesForPurchasesOfEquipmentPaidWithBankerSAcceptances' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Subsidy income</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_AdvancesForPurchasesOfEquipmentPaidWithBankerSAcceptances' xlink:to='lab_fil_AdvancesForPurchasesOfEquipmentPaidWithBankerSAcceptances'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeMember' xlink:label='us-gaap_AccumulatedOtherComprehensiveIncomeMember'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Accumulated Other Comprehensive Income</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_AccumulatedOtherComprehensiveIncomeMember' xlink:to='lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OtherExpenses' xlink:label='us-gaap_OtherExpenses'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_OtherExpenses' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Net other expense</link:label>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_OtherExpenses' xlink:role='http://www.xbrl.org/2003/role/totalLabel' xml:lang='en-US'>Net other expense</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_OtherExpenses' xlink:to='lab_us-gaap_OtherExpenses'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment' xlink:label='us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Accumulated depreciation on property and equipment</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment' xlink:to='lab_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_PreconfirmationAccumulatedOtherComprehensiveIncomeLoss' xlink:label='us-gaap_PreconfirmationAccumulatedOtherComprehensiveIncomeLoss'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_PreconfirmationAccumulatedOtherComprehensiveIncomeLoss' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Accumulated other comprehensive income</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_PreconfirmationAccumulatedOtherComprehensiveIncomeLoss' xlink:to='lab_us-gaap_PreconfirmationAccumulatedOtherComprehensiveIncomeLoss'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_CustomerAdvancesCurrent' xlink:label='us-gaap_CustomerAdvancesCurrent'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_CustomerAdvancesCurrent' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Advances from customers</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_CustomerAdvancesCurrent' xlink:to='lab_us-gaap_CustomerAdvancesCurrent'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_AmendmentFlag' xlink:label='dei_AmendmentFlag'/>
		<link:label xlink:type='resource' xlink:label='lab_dei_AmendmentFlag' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Amendment Flag</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='dei_AmendmentFlag' xlink:to='lab_dei_AmendmentFlag'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_USNetOperatingLossCarryForwards' xlink:label='fil_USNetOperatingLossCarryForwards'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_USNetOperatingLossCarryForwards' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>U.S. net operating loss carry forwards</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_USNetOperatingLossCarryForwards' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>US Net operating loss carry forward</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_USNetOperatingLossCarryForwards' xlink:to='lab_fil_USNetOperatingLossCarryForwards'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_ReconciliationOfIncomeTaxesAbstract' xlink:label='fil_ReconciliationOfIncomeTaxesAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_ReconciliationOfIncomeTaxesAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Reconciliation of income taxes</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_ReconciliationOfIncomeTaxesAbstract' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. [Abstract]</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_ReconciliationOfIncomeTaxesAbstract' xlink:to='lab_fil_ReconciliationOfIncomeTaxesAbstract'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_NetOperatingLossCarryforwardsForPrcTaxPurposes' xlink:label='fil_NetOperatingLossCarryforwardsForPrcTaxPurposes'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_NetOperatingLossCarryforwardsForPrcTaxPurposes' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Net operating loss carryforwards for PRC tax purposes</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_NetOperatingLossCarryforwardsForPrcTaxPurposes' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>NetOperatingLossCarryforwardsForPrcTaxPurposes</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_NetOperatingLossCarryforwardsForPrcTaxPurposes' xlink:to='lab_fil_NetOperatingLossCarryforwardsForPrcTaxPurposes'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_NetCarryingAmount' xlink:label='fil_NetCarryingAmount'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_NetCarryingAmount' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Net carrying amount</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_NetCarryingAmount' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Net carrying amount</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_NetCarryingAmount' xlink:to='lab_fil_NetCarryingAmount'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_TotalInterestCostIncurred' xlink:label='fil_TotalInterestCostIncurred'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_TotalInterestCostIncurred' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Total interest cost incurred</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_TotalInterestCostIncurred' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>TotalInterestCostIncurred</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_TotalInterestCostIncurred' xlink:to='lab_fil_TotalInterestCostIncurred'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_TotalInventory' xlink:label='fil_TotalInventory'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_TotalInventory' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Total Inventory</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_TotalInventory' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_TotalInventory' xlink:to='lab_fil_TotalInventory'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_RecognizedInventoryObsolescenceAllowanceOfApproxForBuflomedilRelatedRawmaterialsAndFinishedGoodsInventory' xlink:label='fil_RecognizedInventoryObsolescenceAllowanceOfApproxForBuflomedilRelatedRawmaterialsAndFinishedGoodsInventory'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_RecognizedInventoryObsolescenceAllowanceOfApproxForBuflomedilRelatedRawmaterialsAndFinishedGoodsInventory' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Recognized inventory obsolescence allowance of approx. For Buflomedil-related rawmaterials and finished goods inventory</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_RecognizedInventoryObsolescenceAllowanceOfApproxForBuflomedilRelatedRawmaterialsAndFinishedGoodsInventory' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Recognized inventory obsolescence allowance of approx. For Buflomedil-related rawmaterials and finished goods inventory</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_RecognizedInventoryObsolescenceAllowanceOfApproxForBuflomedilRelatedRawmaterialsAndFinishedGoodsInventory' xlink:to='lab_fil_RecognizedInventoryObsolescenceAllowanceOfApproxForBuflomedilRelatedRawmaterialsAndFinishedGoodsInventory'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_ParentheticalsTradeReceivablesAbstract' xlink:label='fil_ParentheticalsTradeReceivablesAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_ParentheticalsTradeReceivablesAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Parentheticals - Trade Receivables</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_ParentheticalsTradeReceivablesAbstract' xlink:to='lab_fil_ParentheticalsTradeReceivablesAbstract'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_Warrants' xlink:label='fil_Warrants'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_Warrants' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Warrants</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_Warrants' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>The amount of warrants.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_Warrants' xlink:to='lab_fil_Warrants'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ConcentrationRiskCreditRisk' xlink:label='us-gaap_ConcentrationRiskCreditRisk'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_ConcentrationRiskCreditRisk' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Credit Risk, Policy</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_ConcentrationRiskCreditRisk' xlink:to='lab_us-gaap_ConcentrationRiskCreditRisk'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_PostemploymentBenefitPlansPolicy' xlink:label='us-gaap_PostemploymentBenefitPlansPolicy'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_PostemploymentBenefitPlansPolicy' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Retirement Benefit Plans</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_PostemploymentBenefitPlansPolicy' xlink:to='lab_us-gaap_PostemploymentBenefitPlansPolicy'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_InventoryPolicyTextBlock' xlink:label='us-gaap_InventoryPolicyTextBlock'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_InventoryPolicyTextBlock' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Inventory, Policy</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_InventoryPolicyTextBlock' xlink:to='lab_us-gaap_InventoryPolicyTextBlock'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_AccountingPoliciesPoliciesAbstract' xlink:label='fil_AccountingPoliciesPoliciesAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_AccountingPoliciesPoliciesAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Accounting Policies (Policies)</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_AccountingPoliciesPoliciesAbstract' xlink:to='lab_fil_AccountingPoliciesPoliciesAbstract'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_NotesPayable1Abstract' xlink:label='fil_NotesPayable1Abstract'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_NotesPayable1Abstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>NOTES PAYABLES</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_NotesPayable1Abstract' xlink:to='lab_fil_NotesPayable1Abstract'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock' xlink:label='us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>PROPERTY AND EQUIPMENT {1}</link:label>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock' xlink:role='http://www.xbrl.org/2003/role/terseLabel' xml:lang='en-US'>PROPERTY AND EQUIPMENT</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock' xlink:to='lab_us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_InventoryDisclosureTextBlock' xlink:label='us-gaap_InventoryDisclosureTextBlock'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_InventoryDisclosureTextBlock' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>INVENTORY {1}</link:label>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_InventoryDisclosureTextBlock' xlink:role='http://www.xbrl.org/2003/role/terseLabel' xml:lang='en-US'>INVENTORY</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_InventoryDisclosureTextBlock' xlink:to='lab_us-gaap_InventoryDisclosureTextBlock'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_SupplementalCashFlowInformationAbstract' xlink:label='us-gaap_SupplementalCashFlowInformationAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_SupplementalCashFlowInformationAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Supplemental Cash Flow Information:</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_SupplementalCashFlowInformationAbstract' xlink:to='lab_us-gaap_SupplementalCashFlowInformationAbstract'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract' xlink:label='us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Cash Flows from Investing Activities:</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract' xlink:to='lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_IncreaseInBadDebtExpense' xlink:label='fil_IncreaseInBadDebtExpense'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_IncreaseInBadDebtExpense' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Bad debt expense.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_IncreaseInBadDebtExpense' xlink:to='lab_fil_IncreaseInBadDebtExpense'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ProvisionForDoubtfulAccounts' xlink:label='us-gaap_ProvisionForDoubtfulAccounts'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_ProvisionForDoubtfulAccounts' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Bad debt expense</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_ProvisionForDoubtfulAccounts' xlink:to='lab_us-gaap_ProvisionForDoubtfulAccounts'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_GrossProfit' xlink:label='us-gaap_GrossProfit'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_GrossProfit' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Gross profit (loss)</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_GrossProfit' xlink:to='lab_us-gaap_GrossProfit'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_AdditionalPaidInCapital' xlink:label='us-gaap_AdditionalPaidInCapital'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_AdditionalPaidInCapital' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Additional paid-in capital</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_AdditionalPaidInCapital' xlink:to='lab_us-gaap_AdditionalPaidInCapital'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_LongTermConstructionLoanCurrent' xlink:label='us-gaap_LongTermConstructionLoanCurrent'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_LongTermConstructionLoanCurrent' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Construction loan facility</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_LongTermConstructionLoanCurrent' xlink:to='lab_us-gaap_LongTermConstructionLoanCurrent'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_AccountsPayableTradeCurrent' xlink:label='us-gaap_AccountsPayableTradeCurrent'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_AccountsPayableTradeCurrent' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Trade accounts payable</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_AccountsPayableTradeCurrent' xlink:to='lab_us-gaap_AccountsPayableTradeCurrent'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityFilerCategory' xlink:label='dei_EntityFilerCategory'/>
		<link:label xlink:type='resource' xlink:label='lab_dei_EntityFilerCategory' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Entity Filer Category</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='dei_EntityFilerCategory' xlink:to='lab_dei_EntityFilerCategory'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_ChangesOfDeferredIncomeTaxAssetsAndLiabilityAbstract' xlink:label='fil_ChangesOfDeferredIncomeTaxAssetsAndLiabilityAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_ChangesOfDeferredIncomeTaxAssetsAndLiabilityAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Changes of deferred income tax assets and liability</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_ChangesOfDeferredIncomeTaxAssetsAndLiabilityAbstract' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>The sum of the differences between total income tax expense or benefit as reported in the Income Statement for the period and the expected income tax expense or benefit computed by applying the domestic federal statutory income tax rates to pretax income from continuing operations attributable to nondeductible expenses under enacted tax laws, or differences in the methodologies used to determine expense amounts for financial statements prepared in accordance with generally accepted accounting principles and enacted tax laws. [Abstract]</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_ChangesOfDeferredIncomeTaxAssetsAndLiabilityAbstract' xlink:to='lab_fil_ChangesOfDeferredIncomeTaxAssetsAndLiabilityAbstract'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_PrincipalPayments2015' xlink:label='fil_PrincipalPayments2015'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_PrincipalPayments2015' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Principal Payments 2015</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_PrincipalPayments2015' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Amount of the total principal payments made during the annual reporting period.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_PrincipalPayments2015' xlink:to='lab_fil_PrincipalPayments2015'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_AdavanceOwingToBoardmember' xlink:label='fil_AdavanceOwingToBoardmember'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_AdavanceOwingToBoardmember' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Adavances owing to board member</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_AdavanceOwingToBoardmember' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Adavance owing to boardmember</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_AdavanceOwingToBoardmember' xlink:to='lab_fil_AdavanceOwingToBoardmember'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_CompanyWasObligatedToPayLaboratories' xlink:label='fil_CompanyWasObligatedToPayLaboratories'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_CompanyWasObligatedToPayLaboratories' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Company was obligated to pay laboratories</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_CompanyWasObligatedToPayLaboratories' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>CompanyWasObligatedToPayLaboratories</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_CompanyWasObligatedToPayLaboratories' xlink:to='lab_fil_CompanyWasObligatedToPayLaboratories'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_DepreciationExpensePropertyAndEquipment' xlink:label='fil_DepreciationExpensePropertyAndEquipment'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_DepreciationExpensePropertyAndEquipment' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Depreciation Expense property and equipment</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_DepreciationExpensePropertyAndEquipment' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Depreciation Expense property and equipment</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_DepreciationExpensePropertyAndEquipment' xlink:to='lab_fil_DepreciationExpensePropertyAndEquipment'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_InterestExpense1' xlink:label='fil_InterestExpense1'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_InterestExpense1' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Interest expense,</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_InterestExpense1' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>The cost of borrowed funds accounted for as interest that was charged against earnings during the period.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_InterestExpense1' xlink:to='lab_fil_InterestExpense1'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_OfficeEquipmentMaximumLife' xlink:label='fil_OfficeEquipmentMaximumLife'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_OfficeEquipmentMaximumLife' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Office equipment maximum life</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_OfficeEquipmentMaximumLife' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>The maximum useful life of long-lived, physical assets used in the normal conduct of business and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_OfficeEquipmentMaximumLife' xlink:to='lab_fil_OfficeEquipmentMaximumLife'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_PlantMachineryAndEquipmentMinimumLife' xlink:label='fil_PlantMachineryAndEquipmentMinimumLife'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_PlantMachineryAndEquipmentMinimumLife' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Plant, machinery and equipment minimum life</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_PlantMachineryAndEquipmentMinimumLife' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Tangible assets that are held by an entity for use in the production or supply of goods and services, for rental to others, or for administrative purposes and that are expected to provide economic benefit for more than one year; net of accumulated depreciation. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_PlantMachineryAndEquipmentMinimumLife' xlink:to='lab_fil_PlantMachineryAndEquipmentMinimumLife'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_RecognizedAdditionalBadDebtExpenseForTheNegotiatedDiscountsInTheAmountOf' xlink:label='fil_RecognizedAdditionalBadDebtExpenseForTheNegotiatedDiscountsInTheAmountOf'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_RecognizedAdditionalBadDebtExpenseForTheNegotiatedDiscountsInTheAmountOf' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Recognized additional bad debt expense for the negotiated discounts in the amount of</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_RecognizedAdditionalBadDebtExpenseForTheNegotiatedDiscountsInTheAmountOf' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Recognized additional bad debt expense for the negotiated discounts in the amount of</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_RecognizedAdditionalBadDebtExpenseForTheNegotiatedDiscountsInTheAmountOf' xlink:to='lab_fil_RecognizedAdditionalBadDebtExpenseForTheNegotiatedDiscountsInTheAmountOf'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_Basicweightedaveragecommonsharesoutstanding1' xlink:label='fil_Basicweightedaveragecommonsharesoutstanding1'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_Basicweightedaveragecommonsharesoutstanding1' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Basic weighted-average common shares outstanding</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_Basicweightedaveragecommonsharesoutstanding1' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>BasicWeightedAverageCommonSharesOutstanding1</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_Basicweightedaveragecommonsharesoutstanding1' xlink:to='lab_fil_Basicweightedaveragecommonsharesoutstanding1'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_IntangibleAssetsMedicalFormulasTablesTextBlock' xlink:label='fil_IntangibleAssetsMedicalFormulasTablesTextBlock'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_IntangibleAssetsMedicalFormulasTablesTextBlock' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Intangible Assets Medical Formulas</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_IntangibleAssetsMedicalFormulasTablesTextBlock' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Tabluar disclosure of Intangible Assets Medical Formulas</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_IntangibleAssetsMedicalFormulasTablesTextBlock' xlink:to='lab_fil_IntangibleAssetsMedicalFormulasTablesTextBlock'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_AReconciliationOfTotalInterestCostIncurredToInterestExpenseTextBlock' xlink:label='fil_AReconciliationOfTotalInterestCostIncurredToInterestExpenseTextBlock'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_AReconciliationOfTotalInterestCostIncurredToInterestExpenseTextBlock' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>A reconciliation of total interest cost incurred to interest expense</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_AReconciliationOfTotalInterestCostIncurredToInterestExpenseTextBlock' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Tabular disclosure for reconciliation of total interest cost incurred to interest expense</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_AReconciliationOfTotalInterestCostIncurredToInterestExpenseTextBlock' xlink:to='lab_fil_AReconciliationOfTotalInterestCostIncurredToInterestExpenseTextBlock'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_NatureOfOperations' xlink:label='us-gaap_NatureOfOperations'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_NatureOfOperations' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Organization and Nature of Operations</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_NatureOfOperations' xlink:to='lab_us-gaap_NatureOfOperations'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock' xlink:label='us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES {1}</link:label>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock' xlink:role='http://www.xbrl.org/2003/role/terseLabel' xml:lang='en-US'>ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock' xlink:to='lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_AccountsPayableForPurchasesOfPropertyAndEquipment' xlink:label='fil_AccountsPayableForPurchasesOfPropertyAndEquipment'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_AccountsPayableForPurchasesOfPropertyAndEquipment' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Accounts payable for purchases of property and equipment</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_AccountsPayableForPurchasesOfPropertyAndEquipment' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Accounts receivable collected with banker&apos;s acceptances</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_AccountsPayableForPurchasesOfPropertyAndEquipment' xlink:to='lab_fil_AccountsPayableForPurchasesOfPropertyAndEquipment'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease' xlink:label='us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Net (Decrease) Increase in Cash and Cash Equivalents</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease' xlink:to='lab_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_SharesOutstanding' xlink:label='us-gaap_SharesOutstanding'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_SharesOutstanding' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Balance,</link:label>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_SharesOutstanding' xlink:role='http://www.xbrl.org/2003/role/periodStartLabel' xml:lang='en-US'>Balance,</link:label>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_SharesOutstanding' xlink:role='http://www.xbrl.org/2003/role/periodEndLabel' xml:lang='en-US'>Balance,</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_SharesOutstanding' xlink:to='lab_us-gaap_SharesOutstanding'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_CommonStockMember' xlink:label='us-gaap_CommonStockMember'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_CommonStockMember' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Common Stock Amount</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_CommonStockMember' xlink:to='lab_us-gaap_CommonStockMember'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_CapitalUnitsMember' xlink:label='us-gaap_CapitalUnitsMember'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_CapitalUnitsMember' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Common Stock Shares</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_CapitalUnitsMember' xlink:to='lab_us-gaap_CapitalUnitsMember'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_StatementEquityComponentsAxis' xlink:label='us-gaap_StatementEquityComponentsAxis'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_StatementEquityComponentsAxis' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Equity Components</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_StatementEquityComponentsAxis' xlink:to='lab_us-gaap_StatementEquityComponentsAxis'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossNetOfTax' xlink:label='us-gaap_OtherComprehensiveIncomeLossNetOfTax'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_OtherComprehensiveIncomeLossNetOfTax' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Comprehensive loss</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_OtherComprehensiveIncomeLossNetOfTax' xlink:to='lab_us-gaap_OtherComprehensiveIncomeLossNetOfTax'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit' xlink:label='us-gaap_IncomeTaxExpenseBenefit'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_IncomeTaxExpenseBenefit' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Income tax expense</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_IncomeTaxExpenseBenefit' xlink:to='lab_us-gaap_IncomeTaxExpenseBenefit'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_PreferredStockParOrStatedValuePerShare' xlink:label='us-gaap_PreferredStockParOrStatedValuePerShare'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_PreferredStockParOrStatedValuePerShare' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Preferred Stock, par or stated value</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_PreferredStockParOrStatedValuePerShare' xlink:to='lab_us-gaap_PreferredStockParOrStatedValuePerShare'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_LiabilitiesCurrent' xlink:label='us-gaap_LiabilitiesCurrent'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_LiabilitiesCurrent' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Total Current Liabilities</link:label>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_LiabilitiesCurrent' xlink:role='http://www.xbrl.org/2003/role/totalLabel' xml:lang='en-US'>Total Current Liabilities</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_LiabilitiesCurrent' xlink:to='lab_us-gaap_LiabilitiesCurrent'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_Assets' xlink:label='us-gaap_Assets'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_Assets' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>TOTAL ASSETS</link:label>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_Assets' xlink:role='http://www.xbrl.org/2003/role/totalLabel' xml:lang='en-US'>TOTAL ASSETS</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_Assets' xlink:to='lab_us-gaap_Assets'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentFiscalYearFocus' xlink:label='dei_DocumentFiscalYearFocus'/>
		<link:label xlink:type='resource' xlink:label='lab_dei_DocumentFiscalYearFocus' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Document Fiscal Year Focus</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='dei_DocumentFiscalYearFocus' xlink:to='lab_dei_DocumentFiscalYearFocus'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCommonStockSharesOutstanding' xlink:label='dei_EntityCommonStockSharesOutstanding'/>
		<link:label xlink:type='resource' xlink:label='lab_dei_EntityCommonStockSharesOutstanding' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Entity Common Stock, Shares Outstanding</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='dei_EntityCommonStockSharesOutstanding' xlink:to='lab_dei_EntityCommonStockSharesOutstanding'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_ThirdProductAccountedForRevenue' xlink:label='fil_ThirdProductAccountedForRevenue'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_ThirdProductAccountedForRevenue' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Third Product accounted for revenue</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_ThirdProductAccountedForRevenue' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Third Product accounted for revenue</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_ThirdProductAccountedForRevenue' xlink:to='lab_fil_ThirdProductAccountedForRevenue'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_NumberOfCommonSharesPurchasedByOptions' xlink:label='fil_NumberOfCommonSharesPurchasedByOptions'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_NumberOfCommonSharesPurchasedByOptions' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Number of common shares purchased by options</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_NumberOfCommonSharesPurchasedByOptions' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Number of common shares purchased by options</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_NumberOfCommonSharesPurchasedByOptions' xlink:to='lab_fil_NumberOfCommonSharesPurchasedByOptions'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_TotalLevel2' xlink:label='fil_TotalLevel2'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_TotalLevel2' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Total Level 2</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_TotalLevel2' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Bankers acceptance notes Level 2 total</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_TotalLevel2' xlink:to='lab_fil_TotalLevel2'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_EquivalentToBasicAndDilutedEarningsPerShareOf' xlink:label='fil_EquivalentToBasicAndDilutedEarningsPerShareOf'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_EquivalentToBasicAndDilutedEarningsPerShareOf' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Equivalent to basic and diluted earnings per share of</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_EquivalentToBasicAndDilutedEarningsPerShareOf' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_EquivalentToBasicAndDilutedEarningsPerShareOf' xlink:to='lab_fil_EquivalentToBasicAndDilutedEarningsPerShareOf'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_DeferredFederalIncomeTaxExpenseBenefit' xlink:label='us-gaap_DeferredFederalIncomeTaxExpenseBenefit'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_DeferredFederalIncomeTaxExpenseBenefit' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Deferred tax provision.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_DeferredFederalIncomeTaxExpenseBenefit' xlink:to='lab_us-gaap_DeferredFederalIncomeTaxExpenseBenefit'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_UndistributedEarningsOfHelpson' xlink:label='fil_UndistributedEarningsOfHelpson'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_UndistributedEarningsOfHelpson' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Undistributed earnings of Helpson</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_UndistributedEarningsOfHelpson' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Earnings of Helpson is not distributed during the period</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_UndistributedEarningsOfHelpson' xlink:to='lab_fil_UndistributedEarningsOfHelpson'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_AnnualAmortizationThereafter' xlink:label='fil_AnnualAmortizationThereafter'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_AnnualAmortizationThereafter' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Annual amortization Thereafter</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_AnnualAmortizationThereafter' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>The aggregate amount of recurring noncash expense charged against earnings in the period to allocate the cost of assets over their estimated remaining economic lives</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_AnnualAmortizationThereafter' xlink:to='lab_fil_AnnualAmortizationThereafter'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_BuildingMinimumLife' xlink:label='fil_BuildingMinimumLife'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_BuildingMinimumLife' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Building minimum life</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_BuildingMinimumLife' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>The minimum useful life of long lived, physical assets used in the normal conduct of business and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_BuildingMinimumLife' xlink:to='lab_fil_BuildingMinimumLife'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_Finishedgoods1' xlink:label='fil_Finishedgoods1'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_Finishedgoods1' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Finished goods</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_Finishedgoods1' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Rawmaterials1</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_Finishedgoods1' xlink:to='lab_fil_Finishedgoods1'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_CompanySManufacturingFacilitiesAndInventorySustainedStormDamageOfInventoryRelatedCosts1' xlink:label='fil_CompanySManufacturingFacilitiesAndInventorySustainedStormDamageOfInventoryRelatedCosts1'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_CompanySManufacturingFacilitiesAndInventorySustainedStormDamageOfInventoryRelatedCosts1' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Company&apos;s manufacturing facilities and inventory sustained storm damage of inventory related costs</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_CompanySManufacturingFacilitiesAndInventorySustainedStormDamageOfInventoryRelatedCosts1' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Manfacturing facilties and inventory sustained the storminventory related costs.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_CompanySManufacturingFacilitiesAndInventorySustainedStormDamageOfInventoryRelatedCosts1' xlink:to='lab_fil_CompanySManufacturingFacilitiesAndInventorySustainedStormDamageOfInventoryRelatedCosts1'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_ChargesToInventoryObsolescenceExpenseTotalledTo' xlink:label='fil_ChargesToInventoryObsolescenceExpenseTotalledTo'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_ChargesToInventoryObsolescenceExpenseTotalledTo' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Charges to inventory obsolescence expense totalled to</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_ChargesToInventoryObsolescenceExpenseTotalledTo' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Charges to inventory obsolescence expense totalled to</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_ChargesToInventoryObsolescenceExpenseTotalledTo' xlink:to='lab_fil_ChargesToInventoryObsolescenceExpenseTotalledTo'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_BasicLossEarningsPerShare' xlink:label='fil_BasicLossEarningsPerShare'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_BasicLossEarningsPerShare' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Basic loss per share</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_BasicLossEarningsPerShare' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_BasicLossEarningsPerShare' xlink:to='lab_fil_BasicLossEarningsPerShare'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_PercentageOfShareOwnedByChinaPharmaHoldingsIncOfOnnyInvestmentLimited' xlink:label='fil_PercentageOfShareOwnedByChinaPharmaHoldingsIncOfOnnyInvestmentLimited'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_PercentageOfShareOwnedByChinaPharmaHoldingsIncOfOnnyInvestmentLimited' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Percentage of share owned by China Pharma Holdings Inc of Onny Investment Limited</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_PercentageOfShareOwnedByChinaPharmaHoldingsIncOfOnnyInvestmentLimited' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Percentage of share owned by China Pharma Holdings Inc of Onny Investment Limited</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_PercentageOfShareOwnedByChinaPharmaHoldingsIncOfOnnyInvestmentLimited' xlink:to='lab_fil_PercentageOfShareOwnedByChinaPharmaHoldingsIncOfOnnyInvestmentLimited'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_AssetsFairValuesTablETextBlock' xlink:label='fil_AssetsFairValuesTablETextBlock'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_AssetsFairValuesTablETextBlock' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Assets Fair Value</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_AssetsFairValuesTablETextBlock' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Tabular disclosure of assets vair value.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_AssetsFairValuesTablETextBlock' xlink:to='lab_fil_AssetsFairValuesTablETextBlock'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_AdvancesForPurchasesOfIntangibleAssetsTextBlock' xlink:label='fil_AdvancesForPurchasesOfIntangibleAssetsTextBlock'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_AdvancesForPurchasesOfIntangibleAssetsTextBlock' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>ADVANCES FOR PURCHASES OF INTANGIBLE ASSETS.</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_AdvancesForPurchasesOfIntangibleAssetsTextBlock' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>The entire disclosure of advances for purchases of intangible assets.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_AdvancesForPurchasesOfIntangibleAssetsTextBlock' xlink:to='lab_fil_AdvancesForPurchasesOfIntangibleAssetsTextBlock'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_RetainedEarningsMember' xlink:label='us-gaap_RetainedEarningsMember'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_RetainedEarningsMember' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Retained Earnings</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_RetainedEarningsMember' xlink:to='lab_us-gaap_RetainedEarningsMember'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_AdditionalPaidInCapitalMember' xlink:label='us-gaap_AdditionalPaidInCapitalMember'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_AdditionalPaidInCapitalMember' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Additional Paid-in Capital</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_AdditionalPaidInCapitalMember' xlink:to='lab_us-gaap_AdditionalPaidInCapitalMember'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_CommonStockSharesIssued' xlink:label='us-gaap_CommonStockSharesIssued'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_CommonStockSharesIssued' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Common Stock, shares issued</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_CommonStockSharesIssued' xlink:to='lab_us-gaap_CommonStockSharesIssued'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_LiabilitiesCurrentAbstract' xlink:label='us-gaap_LiabilitiesCurrentAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_LiabilitiesCurrentAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Current Liabilities:</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_LiabilitiesCurrentAbstract' xlink:to='lab_us-gaap_LiabilitiesCurrentAbstract'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityWellKnownSeasonedIssuer' xlink:label='dei_EntityWellKnownSeasonedIssuer'/>
		<link:label xlink:type='resource' xlink:label='lab_dei_EntityWellKnownSeasonedIssuer' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Entity Well-known Seasoned Issuer</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='dei_EntityWellKnownSeasonedIssuer' xlink:to='lab_dei_EntityWellKnownSeasonedIssuer'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_DocumentAndEntityInformationAbstract' xlink:label='fil_DocumentAndEntityInformationAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_DocumentAndEntityInformationAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Document and Entity Information</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_DocumentAndEntityInformationAbstract' xlink:to='lab_fil_DocumentAndEntityInformationAbstract'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_ContractualCommitmentsDetailsAbstract' xlink:label='fil_ContractualCommitmentsDetailsAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_ContractualCommitmentsDetailsAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Contractual Commitments Details</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_ContractualCommitmentsDetailsAbstract' xlink:to='lab_fil_ContractualCommitmentsDetailsAbstract'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_IntangibleAssetsIncomeTaxLiability' xlink:label='fil_IntangibleAssetsIncomeTaxLiability'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_IntangibleAssetsIncomeTaxLiability' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Intangible assets income tax liability</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_IntangibleAssetsIncomeTaxLiability' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Intangible assets income tax liability</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_IntangibleAssetsIncomeTaxLiability' xlink:to='lab_fil_IntangibleAssetsIncomeTaxLiability'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_OtherPrimarilyTheEffectOfUsTaxRates' xlink:label='fil_OtherPrimarilyTheEffectOfUsTaxRates'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_OtherPrimarilyTheEffectOfUsTaxRates' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Other, primarily the effect of US tax rates</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_OtherPrimarilyTheEffectOfUsTaxRates' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>The portion of the difference between the effective income tax rate and domestic federal statutory income tax rate attributable to income that is exempt from income tax because of tax holidays an entity has received. A tax &quot;holiday&quot; refers to the tax benefit derived from a jurisdiction that provides an exemption from income taxes for some defined period of time as an incentive to attract business.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_OtherPrimarilyTheEffectOfUsTaxRates' xlink:to='lab_fil_OtherPrimarilyTheEffectOfUsTaxRates'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_EnterpriseIncomeTaxRatesForTheYear2013' xlink:label='fil_EnterpriseIncomeTaxRatesForTheYear2013'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_EnterpriseIncomeTaxRatesForTheYear2013' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Enterprise Income Tax Rates for the year 2013</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_EnterpriseIncomeTaxRatesForTheYear2013' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Enterprise Income Tax Rates for the year 2013</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_EnterpriseIncomeTaxRatesForTheYear2013' xlink:to='lab_fil_EnterpriseIncomeTaxRatesForTheYear2013'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_Interestcostcapitalized1' xlink:label='fil_Interestcostcapitalized1'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_Interestcostcapitalized1' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Interest cost capitalized</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_Interestcostcapitalized1' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>InterestCostCapitalized1</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_Interestcostcapitalized1' xlink:to='lab_fil_Interestcostcapitalized1'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_TotalPropertyAndEquipment' xlink:label='fil_TotalPropertyAndEquipment'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_TotalPropertyAndEquipment' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Total Property and Equipment</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_TotalPropertyAndEquipment' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Total Property and Equipment</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_TotalPropertyAndEquipment' xlink:to='lab_fil_TotalPropertyAndEquipment'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_ConstructionInProgress1' xlink:label='fil_ConstructionInProgress1'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_ConstructionInProgress1' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Construction in progress</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_ConstructionInProgress1' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Gross amount, at the balance sheet date, of long-lived assets under construction that include construction costs to date on capital projects that have not been completed and assets being constructed that are not ready to be placed into service.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_ConstructionInProgress1' xlink:to='lab_fil_ConstructionInProgress1'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_PlantMachineryAndEquipmentGross' xlink:label='fil_PlantMachineryAndEquipmentGross'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_PlantMachineryAndEquipmentGross' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Plant, machinery and equipment</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_PlantMachineryAndEquipmentGross' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>The amount of plant machinery and equipment gross as on the date.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_PlantMachineryAndEquipmentGross' xlink:to='lab_fil_PlantMachineryAndEquipmentGross'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_PropertyAndEquipmentTablesAbstract' xlink:label='fil_PropertyAndEquipmentTablesAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_PropertyAndEquipmentTablesAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>PROPERTY AND EQUIPMENT (Tables)</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_PropertyAndEquipmentTablesAbstract' xlink:to='lab_fil_PropertyAndEquipmentTablesAbstract'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_InterestRateRiskTextBlock' xlink:label='fil_InterestRateRiskTextBlock'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_InterestRateRiskTextBlock' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Interest Rate Risk</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_InterestRateRiskTextBlock' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Disclosure of accounting policy for credit risk.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_InterestRateRiskTextBlock' xlink:to='lab_fil_InterestRateRiskTextBlock'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_EarningsPerSharePolicyTextBlock' xlink:label='us-gaap_EarningsPerSharePolicyTextBlock'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_EarningsPerSharePolicyTextBlock' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Basic and Diluted (Loss) Earnings per Common Share</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_EarningsPerSharePolicyTextBlock' xlink:to='lab_us-gaap_EarningsPerSharePolicyTextBlock'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_StockholdersEquityNoteDisclosureTextBlock' xlink:label='us-gaap_StockholdersEquityNoteDisclosureTextBlock'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>STOCKHOLDERS&apos; EQUITY {1}</link:label>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock' xlink:role='http://www.xbrl.org/2003/role/terseLabel' xml:lang='en-US'>STOCKHOLDERS&apos; EQUITY</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_StockholdersEquityNoteDisclosureTextBlock' xlink:to='lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_EquityAbstract' xlink:label='us-gaap_EquityAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_EquityAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>STOCKHOLDERS&apos; EQUITY</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_EquityAbstract' xlink:to='lab_us-gaap_EquityAbstract'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_FairValueMeasurementInputsDisclosureTextBlock' xlink:label='us-gaap_FairValueMeasurementInputsDisclosureTextBlock'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_FairValueMeasurementInputsDisclosureTextBlock' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>FAIR VALUE MEASUREMENTS {1}</link:label>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_FairValueMeasurementInputsDisclosureTextBlock' xlink:role='http://www.xbrl.org/2003/role/terseLabel' xml:lang='en-US'>FAIR VALUE MEASUREMENTS</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_FairValueMeasurementInputsDisclosureTextBlock' xlink:to='lab_us-gaap_FairValueMeasurementInputsDisclosureTextBlock'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_DebtAbstract' xlink:label='fil_DebtAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_DebtAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>CONSTRUCTION LOAN FACILITY</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_DebtAbstract' xlink:to='lab_fil_DebtAbstract'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities' xlink:label='us-gaap_NetCashProvidedByUsedInFinancingActivities'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_NetCashProvidedByUsedInFinancingActivities' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Net Cash Provided by Financing Activity</link:label>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_NetCashProvidedByUsedInFinancingActivities' xlink:role='http://www.xbrl.org/2003/role/totalLabel' xml:lang='en-US'>Net Cash Provided by Financing Activity</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_NetCashProvidedByUsedInFinancingActivities' xlink:to='lab_us-gaap_NetCashProvidedByUsedInFinancingActivities'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_IncreaseDecreaseInAccruedTaxesPayable' xlink:label='us-gaap_IncreaseDecreaseInAccruedTaxesPayable'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_IncreaseDecreaseInAccruedTaxesPayable' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Accrued taxes payable</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_IncreaseDecreaseInAccruedTaxesPayable' xlink:to='lab_us-gaap_IncreaseDecreaseInAccruedTaxesPayable'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_DeferredIncomeTaxExpenseBenefit' xlink:label='us-gaap_DeferredIncomeTaxExpenseBenefit'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_DeferredIncomeTaxExpenseBenefit' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Deferred income taxes</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_DeferredIncomeTaxExpenseBenefit' xlink:to='lab_us-gaap_DeferredIncomeTaxExpenseBenefit'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract' xlink:label='us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Cash Flows from Operating Activities:</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract' xlink:to='lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OperatingExpensesAbstract' xlink:label='us-gaap_OperatingExpensesAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_OperatingExpensesAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Operating expenses:</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_OperatingExpensesAbstract' xlink:to='lab_us-gaap_OperatingExpensesAbstract'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity' xlink:label='us-gaap_LiabilitiesAndStockholdersEquity'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_LiabilitiesAndStockholdersEquity' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>TOTAL LIABILITIES AND STOCKHOLDERS&apos; EQUITY</link:label>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_LiabilitiesAndStockholdersEquity' xlink:role='http://www.xbrl.org/2003/role/totalLabel' xml:lang='en-US'>TOTAL LIABILITIES AND STOCKHOLDERS&apos; EQUITY</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_LiabilitiesAndStockholdersEquity' xlink:to='lab_us-gaap_LiabilitiesAndStockholdersEquity'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract' xlink:label='us-gaap_LiabilitiesAndStockholdersEquityAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>LIABILITIES AND STOCKHOLDERS&apos; EQUITY</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_LiabilitiesAndStockholdersEquityAbstract' xlink:to='lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_AssetsCurrent' xlink:label='us-gaap_AssetsCurrent'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_AssetsCurrent' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Total Current Assets</link:label>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_AssetsCurrent' xlink:role='http://www.xbrl.org/2003/role/totalLabel' xml:lang='en-US'>Total Current Assets</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_AssetsCurrent' xlink:to='lab_us-gaap_AssetsCurrent'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_AccountsReceivableNetCurrent' xlink:label='us-gaap_AccountsReceivableNetCurrent'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_AccountsReceivableNetCurrent' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Trade accounts receivable, less allowance for doubtful accounts of $33,350,109 and $13,301,622, respectively</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_AccountsReceivableNetCurrent' xlink:to='lab_us-gaap_AccountsReceivableNetCurrent'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_CustomerAccountedAccountsReceivable2ndTime' xlink:label='fil_CustomerAccountedAccountsReceivable2ndTime'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_CustomerAccountedAccountsReceivable2ndTime' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Customer accounted accounts receivable 2nd time</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_CustomerAccountedAccountsReceivable2ndTime' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Customer accounted accounts receivable 2nd time</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_CustomerAccountedAccountsReceivable2ndTime' xlink:to='lab_fil_CustomerAccountedAccountsReceivable2ndTime'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_NumberOfCommonStockSharesToPurchaseByWarrantsOutstaningAndExercisable' xlink:label='fil_NumberOfCommonStockSharesToPurchaseByWarrantsOutstaningAndExercisable'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_NumberOfCommonStockSharesToPurchaseByWarrantsOutstaningAndExercisable' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Number of common stock shares to purchase by warrants outstaning and exercisable</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_NumberOfCommonStockSharesToPurchaseByWarrantsOutstaningAndExercisable' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Number of common stock shares to purchase by warrants outstaning and exercisable</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_NumberOfCommonStockSharesToPurchaseByWarrantsOutstaningAndExercisable' xlink:to='lab_fil_NumberOfCommonStockSharesToPurchaseByWarrantsOutstaningAndExercisable'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_BankersAcceptanceNotesLevel1' xlink:label='fil_BankersAcceptanceNotesLevel1'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_BankersAcceptanceNotesLevel1' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Bankers acceptance notes Level 1</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_BankersAcceptanceNotesLevel1' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Bankers acceptance notes Level 1</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_BankersAcceptanceNotesLevel1' xlink:to='lab_fil_BankersAcceptanceNotesLevel1'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_EnterpriseIncomeTaxRatesForTheYear2015' xlink:label='fil_EnterpriseIncomeTaxRatesForTheYear2015'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_EnterpriseIncomeTaxRatesForTheYear2015' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Enterprise Income Tax Rates for the year 2015</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_EnterpriseIncomeTaxRatesForTheYear2015' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>EnterpriseIncomeTaxRatesForTheYear2015</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_EnterpriseIncomeTaxRatesForTheYear2015' xlink:to='lab_fil_EnterpriseIncomeTaxRatesForTheYear2015'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_PrincipalPaymentsThereafter' xlink:label='fil_PrincipalPaymentsThereafter'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_PrincipalPaymentsThereafter' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Principal Payments Thereafter</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_PrincipalPaymentsThereafter' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Amount of the total principal payments made during the annual reporting period.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_PrincipalPaymentsThereafter' xlink:to='lab_fil_PrincipalPaymentsThereafter'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_TotalLoanFacilityAmountRmb800000001' xlink:label='fil_TotalLoanFacilityAmountRmb800000001'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_TotalLoanFacilityAmountRmb800000001' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Total loan facility amount (RMB 80,000,)000</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_TotalLoanFacilityAmountRmb800000001' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Total loan facility provided by the bank or finance company based on the security or eligibility provided by the company</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_TotalLoanFacilityAmountRmb800000001' xlink:to='lab_fil_TotalLoanFacilityAmountRmb800000001'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_AnnualAmortization2016' xlink:label='fil_AnnualAmortization2016'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_AnnualAmortization2016' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Annual amortization 2016</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_AnnualAmortization2016' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>The aggregate amount of recurring noncash expense charged against earnings in the period to allocate the cost of assets over their estimated remaining economic lives</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_AnnualAmortization2016' xlink:to='lab_fil_AnnualAmortization2016'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_PROPERTYANDEQUIPMENTAssetsLifeAbstract' xlink:label='fil_PROPERTYANDEQUIPMENTAssetsLifeAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_PROPERTYANDEQUIPMENTAssetsLifeAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>PROPERTY AND EQUIPMENT Assets Life</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_PROPERTYANDEQUIPMENTAssetsLifeAbstract' xlink:to='lab_fil_PROPERTYANDEQUIPMENTAssetsLifeAbstract'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_AmountContributedToRetirementBenefitPlansForThePeriod' xlink:label='fil_AmountContributedToRetirementBenefitPlansForThePeriod'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_AmountContributedToRetirementBenefitPlansForThePeriod' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Amount contributed to retirement benefit plans for the period</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_AmountContributedToRetirementBenefitPlansForThePeriod' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Amount contributed to retirement benefit plans for the period</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_AmountContributedToRetirementBenefitPlansForThePeriod' xlink:to='lab_fil_AmountContributedToRetirementBenefitPlansForThePeriod'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_IncomeTaxesTableTextBlock' xlink:label='fil_IncomeTaxesTableTextBlock'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_IncomeTaxesTableTextBlock' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Current Taxes</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_IncomeTaxesTableTextBlock' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Tabluar disclosure of Provision For Income Taxes.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_IncomeTaxesTableTextBlock' xlink:to='lab_fil_IncomeTaxesTableTextBlock'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_RisksAndUncertaintiesAbstract' xlink:label='us-gaap_RisksAndUncertaintiesAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_RisksAndUncertaintiesAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>CONCENTRATIONS</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_RisksAndUncertaintiesAbstract' xlink:to='lab_us-gaap_RisksAndUncertaintiesAbstract'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_AdvancesForPurchasesOfIntangibleAssetsAbstract' xlink:label='fil_AdvancesForPurchasesOfIntangibleAssetsAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_AdvancesForPurchasesOfIntangibleAssetsAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>ADVANCES FOR PURCHASES OF INTANGIBLE ASSETS</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_AdvancesForPurchasesOfIntangibleAssetsAbstract' xlink:to='lab_fil_AdvancesForPurchasesOfIntangibleAssetsAbstract'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_LossesFromNaturalDisasterAbstract' xlink:label='fil_LossesFromNaturalDisasterAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_LossesFromNaturalDisasterAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>LOSSES FROM NATURAL DISASTER</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_LossesFromNaturalDisasterAbstract' xlink:to='lab_fil_LossesFromNaturalDisasterAbstract'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_InventoryObsolescenceReserve' xlink:label='fil_InventoryObsolescenceReserve'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_InventoryObsolescenceReserve' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Inventory obsolescence reserve</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_InventoryObsolescenceReserve' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Inventory obsolescence reserve</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_InventoryObsolescenceReserve' xlink:to='lab_fil_InventoryObsolescenceReserve'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_NetIncomeLoss' xlink:label='us-gaap_NetIncomeLoss'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_NetIncomeLoss' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Net loss.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_NetIncomeLoss' xlink:to='lab_us-gaap_NetIncomeLoss'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_ChangesInStockholderSEquityAbstract' xlink:label='fil_ChangesInStockholderSEquityAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_ChangesInStockholderSEquityAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Changes in Stockholder&apos;s equity</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_ChangesInStockholderSEquityAbstract' xlink:to='lab_fil_ChangesInStockholderSEquityAbstract'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_EarningsPerShareAbstract' xlink:label='us-gaap_EarningsPerShareAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_EarningsPerShareAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Loss per share:</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_EarningsPerShareAbstract' xlink:to='lab_us-gaap_EarningsPerShareAbstract'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ProfitLoss' xlink:label='us-gaap_ProfitLoss'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_ProfitLoss' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Net loss</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_ProfitLoss' xlink:to='lab_us-gaap_ProfitLoss'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_InvestmentIncomeInterest' xlink:label='us-gaap_InvestmentIncomeInterest'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_InvestmentIncomeInterest' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Interest income</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_InvestmentIncomeInterest' xlink:to='lab_us-gaap_InvestmentIncomeInterest'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization' xlink:label='us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Accumulated amortization on intangible assets</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization' xlink:to='lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OtherReceivablesNetCurrent' xlink:label='us-gaap_OtherReceivablesNetCurrent'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_OtherReceivablesNetCurrent' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Other receivables, less allowance for doubtful accounts of $60,325 and $43,064, respectively</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_OtherReceivablesNetCurrent' xlink:to='lab_us-gaap_OtherReceivablesNetCurrent'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_EquityComponentDomain' xlink:label='us-gaap_EquityComponentDomain'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_EquityComponentDomain' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Equity Component [Domain]</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_EquityComponentDomain' xlink:to='lab_us-gaap_EquityComponentDomain'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_NumberOfCommonShares' xlink:label='fil_NumberOfCommonShares'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_NumberOfCommonShares' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Number of common shares</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_NumberOfCommonShares' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>The maximum number of common shares permitted to be issued by an entity&apos;s charter and bylaws.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_NumberOfCommonShares' xlink:to='lab_fil_NumberOfCommonShares'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_TotalDeferredIncomeTaxAssets' xlink:label='fil_TotalDeferredIncomeTaxAssets'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_TotalDeferredIncomeTaxAssets' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Total deferred income tax assets</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_TotalDeferredIncomeTaxAssets' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from deferred income.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_TotalDeferredIncomeTaxAssets' xlink:to='lab_fil_TotalDeferredIncomeTaxAssets'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_TaxAtStatutoryRateOf25' xlink:label='fil_TaxAtStatutoryRateOf25'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_TaxAtStatutoryRateOf25' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Tax at statutory rate of 25%</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_TaxAtStatutoryRateOf25' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>The domestic federal statutory tax rate applicable under enacted tax laws to the Company&apos;s pretax income from continuing operations for the period. The &quot;statutory&quot; tax rate is the regular tax rate if there are alternative tax systems.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_TaxAtStatutoryRateOf25' xlink:to='lab_fil_TaxAtStatutoryRateOf25'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_RELATEDPARTYTRANSACTIONSMemberOfBODAbstract' xlink:label='fil_RELATEDPARTYTRANSACTIONSMemberOfBODAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_RELATEDPARTYTRANSACTIONSMemberOfBODAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>RELATED PARTY TRANSACTIONS Member Of BOD</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_RELATEDPARTYTRANSACTIONSMemberOfBODAbstract' xlink:to='lab_fil_RELATEDPARTYTRANSACTIONSMemberOfBODAbstract'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_ReconcialitionOfTotalInterestDetailsAbstract' xlink:label='fil_ReconcialitionOfTotalInterestDetailsAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_ReconcialitionOfTotalInterestDetailsAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Reconcialition of Total interest details</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_ReconcialitionOfTotalInterestDetailsAbstract' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>ReconcialitionOfTotalInterestDetailsAbstract [Abstract]</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_ReconcialitionOfTotalInterestDetailsAbstract' xlink:to='lab_fil_ReconcialitionOfTotalInterestDetailsAbstract'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_ObsolescenceReserve' xlink:label='fil_ObsolescenceReserve'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_ObsolescenceReserve' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Obsolescence reserve</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_ObsolescenceReserve' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>ObsolescenceReserve</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_ObsolescenceReserve' xlink:to='lab_fil_ObsolescenceReserve'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_LossFromTheRefundsToCustomers' xlink:label='fil_LossFromTheRefundsToCustomers'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_LossFromTheRefundsToCustomers' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Loss from the refunds to customers</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_LossFromTheRefundsToCustomers' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Loss from the refunds to customers</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_LossFromTheRefundsToCustomers' xlink:to='lab_fil_LossFromTheRefundsToCustomers'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_AccountsReceivableFromSales' xlink:label='fil_AccountsReceivableFromSales'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_AccountsReceivableFromSales' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Accounts Receivable from sales</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_AccountsReceivableFromSales' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Accounts Receivable from sales</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_AccountsReceivableFromSales' xlink:to='lab_fil_AccountsReceivableFromSales'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_Options' xlink:label='fil_Options'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_Options' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Options</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_Options' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>The amount of options.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_Options' xlink:to='lab_fil_Options'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_OrganizationAndOperationsAbstract' xlink:label='fil_OrganizationAndOperationsAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_OrganizationAndOperationsAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Organization and operations</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_OrganizationAndOperationsAbstract' xlink:to='lab_fil_OrganizationAndOperationsAbstract'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_PotentialCommonSharesWereNotIncludedInTheComputationOfDilutedEarningsPerShareTableTextBlock' xlink:label='fil_PotentialCommonSharesWereNotIncludedInTheComputationOfDilutedEarningsPerShareTableTextBlock'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_PotentialCommonSharesWereNotIncludedInTheComputationOfDilutedEarningsPerShareTableTextBlock' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Potential common shares were not included in the computation of diluted earnings per share</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_PotentialCommonSharesWereNotIncludedInTheComputationOfDilutedEarningsPerShareTableTextBlock' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Tabular disclosure of common shares not included in earnings per share.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_PotentialCommonSharesWereNotIncludedInTheComputationOfDilutedEarningsPerShareTableTextBlock' xlink:to='lab_fil_PotentialCommonSharesWereNotIncludedInTheComputationOfDilutedEarningsPerShareTableTextBlock'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_IncomeTaxesPaidNet' xlink:label='us-gaap_IncomeTaxesPaidNet'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_IncomeTaxesPaidNet' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Cash paid for income taxes</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_IncomeTaxesPaidNet' xlink:to='lab_us-gaap_IncomeTaxesPaidNet'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_CashAndCashEquivalentsAtBeginningOfPeriod' xlink:label='fil_CashAndCashEquivalentsAtBeginningOfPeriod'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_CashAndCashEquivalentsAtBeginningOfPeriod' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Cash and Cash Equivalents at Beginning of Period</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_CashAndCashEquivalentsAtBeginningOfPeriod' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_CashAndCashEquivalentsAtBeginningOfPeriod' xlink:to='lab_fil_CashAndCashEquivalentsAtBeginningOfPeriod'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract' xlink:label='us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Cash Flows from Financing Activities:</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract' xlink:to='lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_IncreaseDecreaseInPrepaidExpense' xlink:label='us-gaap_IncreaseDecreaseInPrepaidExpense'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_IncreaseDecreaseInPrepaidExpense' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Prepaid expenses {1}</link:label>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_IncreaseDecreaseInPrepaidExpense' xlink:role='http://www.xbrl.org/2003/role/terseLabel' xml:lang='en-US'>Prepaid expenses</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_IncreaseDecreaseInPrepaidExpense' xlink:to='lab_us-gaap_IncreaseDecreaseInPrepaidExpense'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_IncreaseDecreaseInInventories' xlink:label='us-gaap_IncreaseDecreaseInInventories'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_IncreaseDecreaseInInventories' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Inventory</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_IncreaseDecreaseInInventories' xlink:to='lab_us-gaap_IncreaseDecreaseInInventories'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_InterestExpense' xlink:label='us-gaap_InterestExpense'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_InterestExpense' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Interest expense</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_InterestExpense' xlink:to='lab_us-gaap_InterestExpense'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_AssetsCurrentAbstract' xlink:label='us-gaap_AssetsCurrentAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_AssetsCurrentAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Current Assets:</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_AssetsCurrentAbstract' xlink:to='lab_us-gaap_AssetsCurrentAbstract'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_AssetsAbstract' xlink:label='us-gaap_AssetsAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_AssetsAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>ASSETS</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_AssetsAbstract' xlink:to='lab_us-gaap_AssetsAbstract'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityPublicFloat' xlink:label='dei_EntityPublicFloat'/>
		<link:label xlink:type='resource' xlink:label='lab_dei_EntityPublicFloat' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Entity Public Float</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='dei_EntityPublicFloat' xlink:to='lab_dei_EntityPublicFloat'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_ConcentrationsDetailsAbstract' xlink:label='fil_ConcentrationsDetailsAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_ConcentrationsDetailsAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>CONCENTRATIONS Details</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_ConcentrationsDetailsAbstract' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Company made payments as per Construction agreement</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_ConcentrationsDetailsAbstract' xlink:to='lab_fil_ConcentrationsDetailsAbstract'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_STOCKHOLDERSEQUITYPreferredCommonStockAndWarrantsAbstract' xlink:label='fil_STOCKHOLDERSEQUITYPreferredCommonStockAndWarrantsAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_STOCKHOLDERSEQUITYPreferredCommonStockAndWarrantsAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Preferred Common Stock And Warrants</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_STOCKHOLDERSEQUITYPreferredCommonStockAndWarrantsAbstract' xlink:to='lab_fil_STOCKHOLDERSEQUITYPreferredCommonStockAndWarrantsAbstract'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_PrincipalPayments2016' xlink:label='fil_PrincipalPayments2016'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_PrincipalPayments2016' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Principal Payments 2016</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_PrincipalPayments2016' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Amount of the total principal payments made during the annual reporting period.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_PrincipalPayments2016' xlink:to='lab_fil_PrincipalPayments2016'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_ConstructionLoanFacilityDetailsAbstract' xlink:label='fil_ConstructionLoanFacilityDetailsAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_ConstructionLoanFacilityDetailsAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Construction loan facility details</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_ConstructionLoanFacilityDetailsAbstract' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>ConstructionLoanFacilityDetailsAbstract [Abstract]</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_ConstructionLoanFacilityDetailsAbstract' xlink:to='lab_fil_ConstructionLoanFacilityDetailsAbstract'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_InterestRateOnAdvancesFromMemberOfBOD' xlink:label='fil_InterestRateOnAdvancesFromMemberOfBOD'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_InterestRateOnAdvancesFromMemberOfBOD' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Interest rate on advances from Member of BOD</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_InterestRateOnAdvancesFromMemberOfBOD' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Interest rate on advances from Member of BOD</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_InterestRateOnAdvancesFromMemberOfBOD' xlink:to='lab_fil_InterestRateOnAdvancesFromMemberOfBOD'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_MotorVehicleMaximumLife' xlink:label='fil_MotorVehicleMaximumLife'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_MotorVehicleMaximumLife' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Motor vehicle maximum life</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_MotorVehicleMaximumLife' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>The maximum useful life of long-lived, physical assets used in the normal conduct of business and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_MotorVehicleMaximumLife' xlink:to='lab_fil_MotorVehicleMaximumLife'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_PlantMachineryAndEquipmentMaximumLife' xlink:label='fil_PlantMachineryAndEquipmentMaximumLife'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_PlantMachineryAndEquipmentMaximumLife' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Plant, machinery and equipment maximum life</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_PlantMachineryAndEquipmentMaximumLife' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Tangible assets that are held by an entity for use in the production or supply of goods and services, for rental to others, or for administrative purposes and that are expected to provide economic benefit for more than one year; net of accumulated depreciation. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_PlantMachineryAndEquipmentMaximumLife' xlink:to='lab_fil_PlantMachineryAndEquipmentMaximumLife'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_RecognizedInventoryObsolescenceReserveOf' xlink:label='fil_RecognizedInventoryObsolescenceReserveOf'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_RecognizedInventoryObsolescenceReserveOf' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Recognized inventory obsolescence reserve of</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_RecognizedInventoryObsolescenceReserveOf' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Recognized inventory obsolescence reserve of</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_RecognizedInventoryObsolescenceReserveOf' xlink:to='lab_fil_RecognizedInventoryObsolescenceReserveOf'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock' xlink:label='us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Schedule of Deferred Tax Assets and Liabilities</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock' xlink:to='lab_us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_EstimatedAggregateAnnualAmortizationExpenseTextBlock' xlink:label='fil_EstimatedAggregateAnnualAmortizationExpenseTextBlock'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_EstimatedAggregateAnnualAmortizationExpenseTextBlock' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Estimated aggregate annual amortization expense</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_EstimatedAggregateAnnualAmortizationExpenseTextBlock' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Tabluar disclosure of estimated aggregate annual amortization expense</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_EstimatedAggregateAnnualAmortizationExpenseTextBlock' xlink:to='lab_fil_EstimatedAggregateAnnualAmortizationExpenseTextBlock'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_IncomeTaxDisclosureTextBlock' xlink:label='us-gaap_IncomeTaxDisclosureTextBlock'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_IncomeTaxDisclosureTextBlock' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>INCOME TAXES {1}</link:label>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_IncomeTaxDisclosureTextBlock' xlink:role='http://www.xbrl.org/2003/role/terseLabel' xml:lang='en-US'>INCOME TAXES</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_IncomeTaxDisclosureTextBlock' xlink:to='lab_us-gaap_IncomeTaxDisclosureTextBlock'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract' xlink:label='us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>INTANGIBLE ASSETS</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract' xlink:to='lab_us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents' xlink:label='us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Effect of Exchange Rate Changes on Cash</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents' xlink:to='lab_us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsAndOtherReceivables' xlink:label='us-gaap_IncreaseDecreaseInAccountsAndOtherReceivables'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_IncreaseDecreaseInAccountsAndOtherReceivables' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Trade accounts and other receivables</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_IncreaseDecreaseInAccountsAndOtherReceivables' xlink:to='lab_us-gaap_IncreaseDecreaseInAccountsAndOtherReceivables'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax' xlink:label='us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Other comprehensive income (loss) - foreign currency translation adjustment</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax' xlink:to='lab_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_LossesFromNaturalDisaster' xlink:label='fil_LossesFromNaturalDisaster'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_LossesFromNaturalDisaster' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Losses from natural disaster</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_LossesFromNaturalDisaster' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Losses from natural disaster</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_LossesFromNaturalDisaster' xlink:to='lab_fil_LossesFromNaturalDisaster'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_PreferredStockSharesAuthorized' xlink:label='us-gaap_PreferredStockSharesAuthorized'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_PreferredStockSharesAuthorized' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Preferred Stock, shares authorized</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_PreferredStockSharesAuthorized' xlink:to='lab_us-gaap_PreferredStockSharesAuthorized'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_StockholdersEquity' xlink:label='us-gaap_StockholdersEquity'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_StockholdersEquity' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Total Stockholders&apos; Equity</link:label>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_StockholdersEquity' xlink:role='http://www.xbrl.org/2003/role/totalLabel' xml:lang='en-US'>Total Stockholders&apos; Equity</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_StockholdersEquity' xlink:to='lab_us-gaap_StockholdersEquity'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_AccruedLiabilitiesCurrent' xlink:label='us-gaap_AccruedLiabilitiesCurrent'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_AccruedLiabilitiesCurrent' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Accrued expenses</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_AccruedLiabilitiesCurrent' xlink:to='lab_us-gaap_AccruedLiabilitiesCurrent'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentFiscalPeriodFocus' xlink:label='dei_DocumentFiscalPeriodFocus'/>
		<link:label xlink:type='resource' xlink:label='lab_dei_DocumentFiscalPeriodFocus' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Document Fiscal Period Focus</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='dei_DocumentFiscalPeriodFocus' xlink:to='lab_dei_DocumentFiscalPeriodFocus'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_STOCKHOLDERSEQUITY2010StockOptionPlanAbstract' xlink:label='fil_STOCKHOLDERSEQUITY2010StockOptionPlanAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_STOCKHOLDERSEQUITY2010StockOptionPlanAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>STOCKHOLDERS EQUITY 2010 Stock Option Plan</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_STOCKHOLDERSEQUITY2010StockOptionPlanAbstract' xlink:to='lab_fil_STOCKHOLDERSEQUITY2010StockOptionPlanAbstract'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_BankersAcceptanceNotesLevel3' xlink:label='fil_BankersAcceptanceNotesLevel3'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_BankersAcceptanceNotesLevel3' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Bankers acceptance notes Level 3</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_BankersAcceptanceNotesLevel3' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Bankers acceptance notes Level 3</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_BankersAcceptanceNotesLevel3' xlink:to='lab_fil_BankersAcceptanceNotesLevel3'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_ExpensesNotDeductibleInCurrentYear' xlink:label='fil_ExpensesNotDeductibleInCurrentYear'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_ExpensesNotDeductibleInCurrentYear' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Expenses not deductible in current year</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_ExpensesNotDeductibleInCurrentYear' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Expenses not deductible in current year</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_ExpensesNotDeductibleInCurrentYear' xlink:to='lab_fil_ExpensesNotDeductibleInCurrentYear'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_InvestmentInHelpsonAForeignSubsidiaryForTheCompany' xlink:label='fil_InvestmentInHelpsonAForeignSubsidiaryForTheCompany'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_InvestmentInHelpsonAForeignSubsidiaryForTheCompany' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Investment in Helpson, a foreign subsidiary for the company</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_InvestmentInHelpsonAForeignSubsidiaryForTheCompany' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Investment in Helpson, a foreign subsidiary for the company</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_InvestmentInHelpsonAForeignSubsidiaryForTheCompany' xlink:to='lab_fil_InvestmentInHelpsonAForeignSubsidiaryForTheCompany'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_TotalInterestExpenseRecognizedForThePeriod' xlink:label='fil_TotalInterestExpenseRecognizedForThePeriod'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_TotalInterestExpenseRecognizedForThePeriod' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Total interest expense recognized for the period</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_TotalInterestExpenseRecognizedForThePeriod' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Total interest expense recognized for the period</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_TotalInterestExpenseRecognizedForThePeriod' xlink:to='lab_fil_TotalInterestExpenseRecognizedForThePeriod'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_AccumulatedAmortizationIntangibleAssetsCfdaApprovedMedicalFormulas' xlink:label='fil_AccumulatedAmortizationIntangibleAssetsCfdaApprovedMedicalFormulas'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_AccumulatedAmortizationIntangibleAssetsCfdaApprovedMedicalFormulas' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Accumulated amortization Intangible assets CFDA Approved Medical Formulas</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_AccumulatedAmortizationIntangibleAssetsCfdaApprovedMedicalFormulas' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Accumulated amortization Intangible assets CFDA Approved Medical FormulasThe aggregate amount of recurring noncash expense charged against earnings in the period to allocate the cost of assets over their estimated remaining economic lives</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_AccumulatedAmortizationIntangibleAssetsCfdaApprovedMedicalFormulas' xlink:to='lab_fil_AccumulatedAmortizationIntangibleAssetsCfdaApprovedMedicalFormulas'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_PermitOfLandUseMinimumLife' xlink:label='fil_PermitOfLandUseMinimumLife'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_PermitOfLandUseMinimumLife' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Permit of land use minimum life</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_PermitOfLandUseMinimumLife' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>The minimum useful life of long lived, physical assets used in the normal conduct of business and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_PermitOfLandUseMinimumLife' xlink:to='lab_fil_PermitOfLandUseMinimumLife'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_InventoryGross1' xlink:label='fil_InventoryGross1'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_InventoryGross1' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Inventory Gross</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_InventoryGross1' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>InventoryGross1</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_InventoryGross1' xlink:to='lab_fil_InventoryGross1'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_CompanySManufacturingFacilitiesAndInventorySustainedStormDamageOfOfFacilitiesDamageCosts' xlink:label='fil_CompanySManufacturingFacilitiesAndInventorySustainedStormDamageOfOfFacilitiesDamageCosts'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_CompanySManufacturingFacilitiesAndInventorySustainedStormDamageOfOfFacilitiesDamageCosts' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Company&apos;s manufacturing facilities and inventory sustained storm damage of of facilities damage costs</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_CompanySManufacturingFacilitiesAndInventorySustainedStormDamageOfOfFacilitiesDamageCosts' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Company&apos;s manufacturing facilities and inventory sustained storm damage of of facilities damage costs</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_CompanySManufacturingFacilitiesAndInventorySustainedStormDamageOfOfFacilitiesDamageCosts' xlink:to='lab_fil_CompanySManufacturingFacilitiesAndInventorySustainedStormDamageOfOfFacilitiesDamageCosts'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_DilutedLossEarningsPerShare' xlink:label='fil_DilutedLossEarningsPerShare'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_DilutedLossEarningsPerShare' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Diluted loss per share</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_DilutedLossEarningsPerShare' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_DilutedLossEarningsPerShare' xlink:to='lab_fil_DilutedLossEarningsPerShare'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_PercetageOfAcquiredByOnnyInHelpson' xlink:label='fil_PercetageOfAcquiredByOnnyInHelpson'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_PercetageOfAcquiredByOnnyInHelpson' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Percetage of acquired by Onny in Helpson</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_PercetageOfAcquiredByOnnyInHelpson' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Percetage of acquired by Onny in Helpson</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_PercetageOfAcquiredByOnnyInHelpson' xlink:to='lab_fil_PercetageOfAcquiredByOnnyInHelpson'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_FairValueDisclosuresAbstract' xlink:label='us-gaap_FairValueDisclosuresAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_FairValueDisclosuresAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>FAIR VALUE MEASUREMENTS</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_FairValueDisclosuresAbstract' xlink:to='lab_us-gaap_FairValueDisclosuresAbstract'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_InterestPaid' xlink:label='us-gaap_InterestPaid'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_InterestPaid' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Cash paid for interest</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_InterestPaid' xlink:to='lab_us-gaap_InterestPaid'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_DepreciationDepletionAndAmortization' xlink:label='us-gaap_DepreciationDepletionAndAmortization'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_DepreciationDepletionAndAmortization' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Depreciation and amortization</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_DepreciationDepletionAndAmortization' xlink:to='lab_us-gaap_DepreciationDepletionAndAmortization'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_StatementTable' xlink:label='us-gaap_StatementTable'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_StatementTable' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Statement</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_StatementTable' xlink:to='lab_us-gaap_StatementTable'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_CommonStockValue' xlink:label='us-gaap_CommonStockValue'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_CommonStockValue' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Common stock, $0.001 par value; 95,000,000 shares authorized; 43,579,557 shares and 43,579,557 shares outstanding, respectively</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_CommonStockValue' xlink:to='lab_us-gaap_CommonStockValue'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_Liabilities' xlink:label='us-gaap_Liabilities'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_Liabilities' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Total Liabilities</link:label>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_Liabilities' xlink:role='http://www.xbrl.org/2003/role/totalLabel' xml:lang='en-US'>Total Liabilities</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_Liabilities' xlink:to='lab_us-gaap_Liabilities'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_LongtermConstructionLoanCurrentAndNoncurrent' xlink:label='us-gaap_LongtermConstructionLoanCurrentAndNoncurrent'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_LongtermConstructionLoanCurrentAndNoncurrent' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Current portion of construction loan facility</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_LongtermConstructionLoanCurrentAndNoncurrent' xlink:to='lab_us-gaap_LongtermConstructionLoanCurrentAndNoncurrent'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_AdvancesToSuppliers' xlink:label='fil_AdvancesToSuppliers'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_AdvancesToSuppliers' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Advances to suppliers</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_AdvancesToSuppliers' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Carrying amount as of the balance sheet date of advances to suppliers.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_AdvancesToSuppliers' xlink:to='lab_fil_AdvancesToSuppliers'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityVoluntaryFilers' xlink:label='dei_EntityVoluntaryFilers'/>
		<link:label xlink:type='resource' xlink:label='lab_dei_EntityVoluntaryFilers' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Entity Voluntary Filers</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='dei_EntityVoluntaryFilers' xlink:to='lab_dei_EntityVoluntaryFilers'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_CompanyMadePaymentsAsPerConstructionAgreement' xlink:label='fil_CompanyMadePaymentsAsPerConstructionAgreement'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_CompanyMadePaymentsAsPerConstructionAgreement' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Company made payments as per Construction agreement</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_CompanyMadePaymentsAsPerConstructionAgreement' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Company made payments as per Construction agreement</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_CompanyMadePaymentsAsPerConstructionAgreement' xlink:to='lab_fil_CompanyMadePaymentsAsPerConstructionAgreement'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_ExercisePricePerShareExpiredUnexercised1' xlink:label='fil_ExercisePricePerShareExpiredUnexercised1'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_ExercisePricePerShareExpiredUnexercised1' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Exercise price per share expired unexercised.</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_ExercisePricePerShareExpiredUnexercised1' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Exercise price per share expired unexercised.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_ExercisePricePerShareExpiredUnexercised1' xlink:to='lab_fil_ExercisePricePerShareExpiredUnexercised1'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_ChangeInValuationAllowanceReconciliation' xlink:label='fil_ChangeInValuationAllowanceReconciliation'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_ChangeInValuationAllowanceReconciliation' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Change in valuation allowance Reconciliation</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_ChangeInValuationAllowanceReconciliation' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>The portion of the difference between total income tax expense or benefit as reported in the Income Statement and the expected income tax expense or benefit computed by applying the domestic federal statutory income tax rates to pretax income from continuing operations attributable to changes in the valuation allowance for deferred tax assets in the period.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_ChangeInValuationAllowanceReconciliation' xlink:to='lab_fil_ChangeInValuationAllowanceReconciliation'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_INCOMETAXESProvisionAbstract' xlink:label='fil_INCOMETAXESProvisionAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_INCOMETAXESProvisionAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>INCOME TAXES Provision</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_INCOMETAXESProvisionAbstract' xlink:to='lab_fil_INCOMETAXESProvisionAbstract'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_AdvancesForPurchaseOfIntangibleAssetsDetailsAbstract' xlink:label='fil_AdvancesForPurchaseOfIntangibleAssetsDetailsAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_AdvancesForPurchaseOfIntangibleAssetsDetailsAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Advances for purchase of intangible assets details</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_AdvancesForPurchaseOfIntangibleAssetsDetailsAbstract' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>AdvancesForPurchaseOfIntangibleAssetsDetailsAbstract [Abstract]</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_AdvancesForPurchaseOfIntangibleAssetsDetailsAbstract' xlink:to='lab_fil_AdvancesForPurchaseOfIntangibleAssetsDetailsAbstract'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_IntangibleAssetsCfdaApprovedMedicalFormulasAbstract' xlink:label='fil_IntangibleAssetsCfdaApprovedMedicalFormulasAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_IntangibleAssetsCfdaApprovedMedicalFormulasAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>INTANGIBLE ASSETS CFDA Approved Medical Formulas</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_IntangibleAssetsCfdaApprovedMedicalFormulasAbstract' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Gross amount, at the balance sheet date, of long-lived assets under construction that include construction costs to date on capital projects that have not been completed and assets being constructed that are not ready to be placed into service. [Abstract]</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_IntangibleAssetsCfdaApprovedMedicalFormulasAbstract' xlink:to='lab_fil_IntangibleAssetsCfdaApprovedMedicalFormulasAbstract'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_LessAccumulatedDepreciationDetails' xlink:label='fil_LessAccumulatedDepreciationDetails'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_LessAccumulatedDepreciationDetails' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Less: accumulated depreciation details</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_LessAccumulatedDepreciationDetails' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>The cumulative amount of depreciation, depletion and amortization (related to property, plant and equipment, but not including land) that has been recognized in the income statement.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_LessAccumulatedDepreciationDetails' xlink:to='lab_fil_LessAccumulatedDepreciationDetails'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_MotorVehicleGross' xlink:label='fil_MotorVehicleGross'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_MotorVehicleGross' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Motor vehicle</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_MotorVehicleGross' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>The amount of motor vehicle gross as on the date</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_MotorVehicleGross' xlink:to='lab_fil_MotorVehicleGross'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_ManagementNegotiatedSettlementOffersWithCertainCustomersInAccountsReceivableBalancesThatWereGreaterThanOne1YearPastDue' xlink:label='fil_ManagementNegotiatedSettlementOffersWithCertainCustomersInAccountsReceivableBalancesThatWereGreaterThanOne1YearPastDue'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_ManagementNegotiatedSettlementOffersWithCertainCustomersInAccountsReceivableBalancesThatWereGreaterThanOne1YearPastDue' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Management negotiated settlement offers with certain customers in accounts receivable balances that were greater than one (1) year past due.</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_ManagementNegotiatedSettlementOffersWithCertainCustomersInAccountsReceivableBalancesThatWereGreaterThanOne1YearPastDue' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Management negotiated settlement offers with certain customers in accounts receivable balances that were greater than one (1) year past due.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_ManagementNegotiatedSettlementOffersWithCertainCustomersInAccountsReceivableBalancesThatWereGreaterThanOne1YearPastDue' xlink:to='lab_fil_ManagementNegotiatedSettlementOffersWithCertainCustomersInAccountsReceivableBalancesThatWereGreaterThanOne1YearPastDue'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_UsefulLivesOfTheAssetsTableTextBlock' xlink:label='fil_UsefulLivesOfTheAssetsTableTextBlock'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_UsefulLivesOfTheAssetsTableTextBlock' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Useful lives of the assets</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_UsefulLivesOfTheAssetsTableTextBlock' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Tabular disclosure of useful lives of the assets.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_UsefulLivesOfTheAssetsTableTextBlock' xlink:to='lab_fil_UsefulLivesOfTheAssetsTableTextBlock'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock' xlink:label='us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Presentation of the numerators and denominators used in the calculation of basic and diluted earnings per share</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock' xlink:to='lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_AdvancesToSuppliersAndAdvancesFromCustomersTextBlock' xlink:label='fil_AdvancesToSuppliersAndAdvancesFromCustomersTextBlock'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_AdvancesToSuppliersAndAdvancesFromCustomersTextBlock' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Advances to Suppliers and Advances from Customers</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_AdvancesToSuppliersAndAdvancesFromCustomersTextBlock' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Disclosure of accounting policy for advances to suppliers and advances from customers</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_AdvancesToSuppliersAndAdvancesFromCustomersTextBlock' xlink:to='lab_fil_AdvancesToSuppliersAndAdvancesFromCustomersTextBlock'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ConcentrationRiskDisclosureTextBlock' xlink:label='us-gaap_ConcentrationRiskDisclosureTextBlock'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_ConcentrationRiskDisclosureTextBlock' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>CONCENTRATIONS {1}</link:label>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_ConcentrationRiskDisclosureTextBlock' xlink:role='http://www.xbrl.org/2003/role/terseLabel' xml:lang='en-US'>CONCENTRATIONS</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_ConcentrationRiskDisclosureTextBlock' xlink:to='lab_us-gaap_ConcentrationRiskDisclosureTextBlock'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_IncreaseDecreaseInDepositOtherAssets' xlink:label='us-gaap_IncreaseDecreaseInDepositOtherAssets'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_IncreaseDecreaseInDepositOtherAssets' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Advances to suppliers {1}</link:label>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_IncreaseDecreaseInDepositOtherAssets' xlink:role='http://www.xbrl.org/2003/role/terseLabel' xml:lang='en-US'>Advances to suppliers</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_IncreaseDecreaseInDepositOtherAssets' xlink:to='lab_us-gaap_IncreaseDecreaseInDepositOtherAssets'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_StockholdersEquityTotalMember' xlink:label='us-gaap_StockholdersEquityTotalMember'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_StockholdersEquityTotalMember' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Total Stockholders&apos; Equity {1}</link:label>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_StockholdersEquityTotalMember' xlink:role='http://www.xbrl.org/2003/role/terseLabel' xml:lang='en-US'>Total Stockholders&apos; Equity</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_StockholdersEquityTotalMember' xlink:to='lab_us-gaap_StockholdersEquityTotalMember'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_CostOfRevenue' xlink:label='us-gaap_CostOfRevenue'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_CostOfRevenue' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Cost of revenue</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_CostOfRevenue' xlink:to='lab_us-gaap_CostOfRevenue'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_CommonStockSharesOutstanding' xlink:label='us-gaap_CommonStockSharesOutstanding'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_CommonStockSharesOutstanding' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Common Stock, shares outstanding</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_CommonStockSharesOutstanding' xlink:to='lab_us-gaap_CommonStockSharesOutstanding'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_CommonStockSharesAuthorized' xlink:label='us-gaap_CommonStockSharesAuthorized'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_CommonStockSharesAuthorized' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Common Stock, shares authorized</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_CommonStockSharesAuthorized' xlink:to='lab_us-gaap_CommonStockSharesAuthorized'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_PreferredStockSharesOutstanding' xlink:label='us-gaap_PreferredStockSharesOutstanding'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_PreferredStockSharesOutstanding' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Preferred Stock, shares outstanding</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_PreferredStockSharesOutstanding' xlink:to='lab_us-gaap_PreferredStockSharesOutstanding'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_IntangibleAssetsNetExcludingGoodwill' xlink:label='us-gaap_IntangibleAssetsNetExcludingGoodwill'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_IntangibleAssetsNetExcludingGoodwill' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Intangible assets, net of accumulated amortization of $4,186,273 and $3,812,992, respectively</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_IntangibleAssetsNetExcludingGoodwill' xlink:to='lab_us-gaap_IntangibleAssetsNetExcludingGoodwill'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_AdvancesForPurchasesOfIntangibleAssets' xlink:label='fil_AdvancesForPurchasesOfIntangibleAssets'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_AdvancesForPurchasesOfIntangibleAssets' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Advances for purchases of intangible assets</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_AdvancesForPurchasesOfIntangibleAssets' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>AdvancesForPurchasesOfIntangibleAssets</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_AdvancesForPurchasesOfIntangibleAssets' xlink:to='lab_fil_AdvancesForPurchasesOfIntangibleAssets'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_FirstProductAccountedForRevenue' xlink:label='fil_FirstProductAccountedForRevenue'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_FirstProductAccountedForRevenue' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>First product accounted for revenue</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_FirstProductAccountedForRevenue' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>First product accounted for revenue</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_FirstProductAccountedForRevenue' xlink:to='lab_fil_FirstProductAccountedForRevenue'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_WarrantsStartRangeExercisePrice' xlink:label='fil_WarrantsStartRangeExercisePrice'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_WarrantsStartRangeExercisePrice' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Warrants start range exercise price</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_WarrantsStartRangeExercisePrice' xlink:role='http://www.xbrl.org/2003/role/periodStartLabel' xml:lang='en-US'>Warrants start range exercise price</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_WarrantsStartRangeExercisePrice' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Warrants start range exercise price</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_WarrantsStartRangeExercisePrice' xlink:to='lab_fil_WarrantsStartRangeExercisePrice'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_TotalLevel1' xlink:label='fil_TotalLevel1'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_TotalLevel1' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Total Level 1</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_TotalLevel1' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Bankers acceptance notes total Level 1</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_TotalLevel1' xlink:to='lab_fil_TotalLevel1'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_Total1' xlink:label='fil_Total1'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_Total1' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Total</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_Total1' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Total bankers acceptance notes</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_Total1' xlink:to='lab_fil_Total1'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_AllowanceForDoubtfulOtherReceivablesDeferredTax' xlink:label='fil_AllowanceForDoubtfulOtherReceivablesDeferredTax'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_AllowanceForDoubtfulOtherReceivablesDeferredTax' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Allowance for doubtful other receivables deferred tax</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_AllowanceForDoubtfulOtherReceivablesDeferredTax' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Allowance for doubtful other receivables deferred tax</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_AllowanceForDoubtfulOtherReceivablesDeferredTax' xlink:to='lab_fil_AllowanceForDoubtfulOtherReceivablesDeferredTax'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_NetOperatingLossCarryforwardsForUsFederalIncomeTaxPurposes' xlink:label='fil_NetOperatingLossCarryforwardsForUsFederalIncomeTaxPurposes'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_NetOperatingLossCarryforwardsForUsFederalIncomeTaxPurposes' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Net operating loss carryforwards for US Federal income tax purposes</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_NetOperatingLossCarryforwardsForUsFederalIncomeTaxPurposes' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>The sum of domestic, foreign and state and local operating loss carryforwards, before tax effects, available to reduce future taxable income under enacted tax laws</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_NetOperatingLossCarryforwardsForUsFederalIncomeTaxPurposes' xlink:to='lab_fil_NetOperatingLossCarryforwardsForUsFederalIncomeTaxPurposes'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_EnterpriseIncomeTaxRatesForTheYear2016' xlink:label='fil_EnterpriseIncomeTaxRatesForTheYear2016'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_EnterpriseIncomeTaxRatesForTheYear2016' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Enterprise Income Tax Rates for the year 2016</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_EnterpriseIncomeTaxRatesForTheYear2016' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>EnterpriseIncomeTaxRatesForTheYear2015</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_EnterpriseIncomeTaxRatesForTheYear2016' xlink:to='lab_fil_EnterpriseIncomeTaxRatesForTheYear2016'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_PrincipalPayments2019' xlink:label='fil_PrincipalPayments2019'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_PrincipalPayments2019' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Principal Payments 2019</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_PrincipalPayments2019' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Principal amount paid by the company in 2019</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_PrincipalPayments2019' xlink:to='lab_fil_PrincipalPayments2019'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_AnnualAmortization2017' xlink:label='fil_AnnualAmortization2017'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_AnnualAmortization2017' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Annual amortization 2017</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_AnnualAmortization2017' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>The aggregate amount of recurring noncash expense charged against earnings in the period to allocate the cost of assets over their estimated remaining economic lives</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_AnnualAmortization2017' xlink:to='lab_fil_AnnualAmortization2017'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_OfficeEquipmentMinimumLife' xlink:label='fil_OfficeEquipmentMinimumLife'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_OfficeEquipmentMinimumLife' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Office equipment minimum life</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_OfficeEquipmentMinimumLife' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>The minimum useful life of long lived, physical assets used in the normal conduct of business and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_OfficeEquipmentMinimumLife' xlink:to='lab_fil_OfficeEquipmentMinimumLife'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_ProvisionForIncomeTaxesTableTextBlock' xlink:label='fil_ProvisionForIncomeTaxesTableTextBlock'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_ProvisionForIncomeTaxesTableTextBlock' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Provision For Income Taxes</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_ProvisionForIncomeTaxesTableTextBlock' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Tabluar disclosure of Provision For Income Taxes.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_ProvisionForIncomeTaxesTableTextBlock' xlink:to='lab_fil_ProvisionForIncomeTaxesTableTextBlock'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_RevenueRecognitionCargoAndFreightPolicyPolicyTextBlock' xlink:label='us-gaap_RevenueRecognitionCargoAndFreightPolicyPolicyTextBlock'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_RevenueRecognitionCargoAndFreightPolicyPolicyTextBlock' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Cost of Revenues, Policy</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_RevenueRecognitionCargoAndFreightPolicyPolicyTextBlock' xlink:to='lab_us-gaap_RevenueRecognitionCargoAndFreightPolicyPolicyTextBlock'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_RelatedPartyTransactionsDisclosureTextBlock' xlink:label='us-gaap_RelatedPartyTransactionsDisclosureTextBlock'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>RELATED PARTY TRANSACTIONS {1}</link:label>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock' xlink:role='http://www.xbrl.org/2003/role/terseLabel' xml:lang='en-US'>RELATED PARTY TRANSACTIONS</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_RelatedPartyTransactionsDisclosureTextBlock' xlink:to='lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_RelatedPartyTransactionsAbstract' xlink:label='us-gaap_RelatedPartyTransactionsAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_RelatedPartyTransactionsAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>RELATED PARTY TRANSACTIONS</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_RelatedPartyTransactionsAbstract' xlink:to='lab_us-gaap_RelatedPartyTransactionsAbstract'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_idr_DisclosureLOSSESFROMNATURALDISASTER' xlink:label='fil_idr_DisclosureLOSSESFROMNATURALDISASTER'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_idr_DisclosureLOSSESFROMNATURALDISASTER' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>LOSSES FROM NATURAL DISASTER {1}</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_idr_DisclosureLOSSESFROMNATURALDISASTER' xlink:role='http://www.xbrl.org/2003/role/terseLabel' xml:lang='en-US'>LOSSES FROM NATURAL DISASTER</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_idr_DisclosureLOSSESFROMNATURALDISASTER' xlink:to='lab_fil_idr_DisclosureLOSSESFROMNATURALDISASTER'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_IncreaseDecreaseInAccruedLiabilities' xlink:label='us-gaap_IncreaseDecreaseInAccruedLiabilities'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_IncreaseDecreaseInAccruedLiabilities' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Other payables and accrued expenses</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_IncreaseDecreaseInAccruedLiabilities' xlink:to='lab_us-gaap_IncreaseDecreaseInAccruedLiabilities'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_NetLossForTheYear' xlink:label='fil_NetLossForTheYear'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_NetLossForTheYear' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Net loss for the year</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_NetLossForTheYear' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_NetLossForTheYear' xlink:to='lab_fil_NetLossForTheYear'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ResearchAndDevelopmentExpense' xlink:label='us-gaap_ResearchAndDevelopmentExpense'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_ResearchAndDevelopmentExpense' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Research and development expenses</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_ResearchAndDevelopmentExpense' xlink:to='lab_us-gaap_ResearchAndDevelopmentExpense'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_GeneralAndAdministrativeExpense' xlink:label='us-gaap_GeneralAndAdministrativeExpense'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_GeneralAndAdministrativeExpense' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>General and administrative expenses</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_GeneralAndAdministrativeExpense' xlink:to='lab_us-gaap_GeneralAndAdministrativeExpense'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_RevenuesAbstract' xlink:label='us-gaap_RevenuesAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_RevenuesAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>REVENUES</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_RevenuesAbstract' xlink:to='lab_us-gaap_RevenuesAbstract'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_PreferredStockSharesIssued' xlink:label='us-gaap_PreferredStockSharesIssued'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_PreferredStockSharesIssued' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Preferred Stock, shares issued</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_PreferredStockSharesIssued' xlink:to='lab_us-gaap_PreferredStockSharesIssued'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent' xlink:label='us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Allowance for doubtful accounts on trade accounts receivables</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent' xlink:to='lab_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit' xlink:label='us-gaap_RetainedEarningsAccumulatedDeficit'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_RetainedEarningsAccumulatedDeficit' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Retained earnings</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_RetainedEarningsAccumulatedDeficit' xlink:to='lab_us-gaap_RetainedEarningsAccumulatedDeficit'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_StockOptionsGranted' xlink:label='fil_StockOptionsGranted'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_StockOptionsGranted' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Stock options granted</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_StockOptionsGranted' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Stock options granted</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_StockOptionsGranted' xlink:to='lab_fil_StockOptionsGranted'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_ValuationAllowance' xlink:label='fil_ValuationAllowance'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_ValuationAllowance' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Valuation allowance,</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_ValuationAllowance' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>The amount of the valuation allowance recorded as of the balance sheet date pertaining to the specified deferred tax asset for which an assessment was made that it is more likely than not that all or a portion of such deferred tax asset will not be realized through related deductions on future tax returns.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_ValuationAllowance' xlink:to='lab_fil_ValuationAllowance'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_CurrentAndPriorYears' xlink:label='fil_CurrentAndPriorYears'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_CurrentAndPriorYears' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Current and prior years</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_CurrentAndPriorYears' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>The domestic federal statutory tax rate applicable under enacted tax laws to the Company&apos;s pretax income from continuing operations for the period. The &quot;statutory&quot; tax rate is the regular tax rate if there are alternative tax systems.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_CurrentAndPriorYears' xlink:to='lab_fil_CurrentAndPriorYears'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_TotalIncomeTaxExpense' xlink:label='fil_TotalIncomeTaxExpense'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_TotalIncomeTaxExpense' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Total income tax expense</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_TotalIncomeTaxExpense' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Total Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_TotalIncomeTaxExpense' xlink:to='lab_fil_TotalIncomeTaxExpense'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_AnnualInterestRate' xlink:label='fil_AnnualInterestRate'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_AnnualInterestRate' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Annual interest rate</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_AnnualInterestRate' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Annual interest rate</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_AnnualInterestRate' xlink:to='lab_fil_AnnualInterestRate'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_AmortizationExpensesRelatingToIntangibleAsetsWas' xlink:label='fil_AmortizationExpensesRelatingToIntangibleAsetsWas'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_AmortizationExpensesRelatingToIntangibleAsetsWas' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Amortization expenses relating to intangible asets was</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_AmortizationExpensesRelatingToIntangibleAsetsWas' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>amortization expenses recognized during the period and allocated to the reportable segment that results from the write-down of indefinite-lived intangible assets after comparing the implied fair value of reporting unit indefinite-lived intangible assets with the carrying amount of that indefinite-lived intangible assets, which are assessed at least annually for impairment.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_AmortizationExpensesRelatingToIntangibleAsetsWas' xlink:to='lab_fil_AmortizationExpensesRelatingToIntangibleAsetsWas'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_PROPERTYANDEQUIPMENTAbstract' xlink:label='fil_PROPERTYANDEQUIPMENTAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_PROPERTYANDEQUIPMENTAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>PROPERTY AND EQUIPMENT {2}</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_PROPERTYANDEQUIPMENTAbstract' xlink:role='http://www.xbrl.org/2003/role/terseLabel' xml:lang='en-US'>PROPERTY AND EQUIPMENT</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_PROPERTYANDEQUIPMENTAbstract' xlink:to='lab_fil_PROPERTYANDEQUIPMENTAbstract'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_INVENTORYABSTRACTAbstract' xlink:label='fil_INVENTORYABSTRACTAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_INVENTORYABSTRACTAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>INVENTORY ABSTRACT</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_INVENTORYABSTRACTAbstract' xlink:to='lab_fil_INVENTORYABSTRACTAbstract'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_Building' xlink:label='fil_Building'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_Building' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Building</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_Building' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Amount before accumulated depreciation of building structures held for productive use including addition, improvement, or renovation to the structure, including, but not limited to, interior masonry, interior flooring, electrical, and plumbing.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_Building' xlink:to='lab_fil_Building'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_PropertyAndEquipmentConsistedOfTheFollowingAbstract' xlink:label='fil_PropertyAndEquipmentConsistedOfTheFollowingAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_PropertyAndEquipmentConsistedOfTheFollowingAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Property and equipment consisted of the following</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_PropertyAndEquipmentConsistedOfTheFollowingAbstract' xlink:to='lab_fil_PropertyAndEquipmentConsistedOfTheFollowingAbstract'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_OptionsWithAnExercisePriceOf254To347PerShare' xlink:label='fil_OptionsWithAnExercisePriceOf254To347PerShare'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_OptionsWithAnExercisePriceOf254To347PerShare' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Options with an exercise price of $2.54 to $3.47 per share</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_OptionsWithAnExercisePriceOf254To347PerShare' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Accounts Receivable from sales</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_OptionsWithAnExercisePriceOf254To347PerShare' xlink:to='lab_fil_OptionsWithAnExercisePriceOf254To347PerShare'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ScheduleOfInventoryCurrentTableTextBlock' xlink:label='us-gaap_ScheduleOfInventoryCurrentTableTextBlock'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_ScheduleOfInventoryCurrentTableTextBlock' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Inventory consists</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_ScheduleOfInventoryCurrentTableTextBlock' xlink:to='lab_us-gaap_ScheduleOfInventoryCurrentTableTextBlock'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_InventoryTablesAbstract' xlink:label='fil_InventoryTablesAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_InventoryTablesAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>INVENTORY (Tables)</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_InventoryTablesAbstract' xlink:to='lab_fil_InventoryTablesAbstract'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_RevenueRecognitionPolicyTextBlock' xlink:label='us-gaap_RevenueRecognitionPolicyTextBlock'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_RevenueRecognitionPolicyTextBlock' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Revenue Recognition, Policy</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_RevenueRecognitionPolicyTextBlock' xlink:to='lab_us-gaap_RevenueRecognitionPolicyTextBlock'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock' xlink:label='us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Valuation of Long-Lived Assets</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock' xlink:to='lab_us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ConsolidationPolicyTextBlock' xlink:label='us-gaap_ConsolidationPolicyTextBlock'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_ConsolidationPolicyTextBlock' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Consolidation and Basis of Presentation</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_ConsolidationPolicyTextBlock' xlink:to='lab_us-gaap_ConsolidationPolicyTextBlock'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_InventoryPurchasedWithBankerSAcceptances' xlink:label='fil_InventoryPurchasedWithBankerSAcceptances'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_InventoryPurchasedWithBankerSAcceptances' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Inventory purchased with banker&apos;s acceptances</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_InventoryPurchasedWithBankerSAcceptances' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Inventory purchased with banker&apos;s acceptances</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_InventoryPurchasedWithBankerSAcceptances' xlink:to='lab_fil_InventoryPurchasedWithBankerSAcceptances'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_CashAndCashEquivalentsAtEndOfPeriod' xlink:label='fil_CashAndCashEquivalentsAtEndOfPeriod'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_CashAndCashEquivalentsAtEndOfPeriod' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Cash and Cash Equivalents at End of Period</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_CashAndCashEquivalentsAtEndOfPeriod' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_CashAndCashEquivalentsAtEndOfPeriod' xlink:to='lab_fil_CashAndCashEquivalentsAtEndOfPeriod'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ProceedsFromConstructionLoansPayable' xlink:label='us-gaap_ProceedsFromConstructionLoansPayable'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_ProceedsFromConstructionLoansPayable' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Proceeds from construction term loan</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_ProceedsFromConstructionLoansPayable' xlink:to='lab_us-gaap_ProceedsFromConstructionLoansPayable'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsPayableTrade' xlink:label='us-gaap_IncreaseDecreaseInAccountsPayableTrade'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_IncreaseDecreaseInAccountsPayableTrade' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Trade accounts payable {1}</link:label>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_IncreaseDecreaseInAccountsPayableTrade' xlink:role='http://www.xbrl.org/2003/role/terseLabel' xml:lang='en-US'>Trade accounts payable</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_IncreaseDecreaseInAccountsPayableTrade' xlink:to='lab_us-gaap_IncreaseDecreaseInAccountsPayableTrade'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_EarningsPerShareBasic' xlink:label='us-gaap_EarningsPerShareBasic'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_EarningsPerShareBasic' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Basic</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_EarningsPerShareBasic' xlink:to='lab_us-gaap_EarningsPerShareBasic'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest' xlink:label='us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Loss before income taxes</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest' xlink:to='lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_Revenues' xlink:label='us-gaap_Revenues'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_Revenues' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Revenue</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_Revenues' xlink:to='lab_us-gaap_Revenues'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_InventoryNet' xlink:label='us-gaap_InventoryNet'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_InventoryNet' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Inventory, less allowance for obsolescence of $6,934,044 and $8,027,126, respectively</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_InventoryNet' xlink:to='lab_us-gaap_InventoryNet'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_Cash' xlink:label='us-gaap_Cash'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_Cash' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Cash and cash equivalents</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_Cash' xlink:to='lab_us-gaap_Cash'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityRegistrantName' xlink:label='dei_EntityRegistrantName'/>
		<link:label xlink:type='resource' xlink:label='lab_dei_EntityRegistrantName' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Entity Registrant Name</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='dei_EntityRegistrantName' xlink:to='lab_dei_EntityRegistrantName'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_SupplierAccountedForRawMaterialPurchases' xlink:label='fil_SupplierAccountedForRawMaterialPurchases'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_SupplierAccountedForRawMaterialPurchases' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Supplier accounted for raw material purchases</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_SupplierAccountedForRawMaterialPurchases' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Company made payments as per Construction agreement</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_SupplierAccountedForRawMaterialPurchases' xlink:to='lab_fil_SupplierAccountedForRawMaterialPurchases'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_CommonSharesAuthorized' xlink:label='fil_CommonSharesAuthorized'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_CommonSharesAuthorized' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Common shares authorized</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_CommonSharesAuthorized' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>The maximum number of common shares permitted to be issued by an entity&apos;s charter and bylaws.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_CommonSharesAuthorized' xlink:to='lab_fil_CommonSharesAuthorized'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_AllowanceForDoubtfulTradeReceivablesDeferredTax' xlink:label='fil_AllowanceForDoubtfulTradeReceivablesDeferredTax'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_AllowanceForDoubtfulTradeReceivablesDeferredTax' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Allowance for doubtful trade receivables deferred tax</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_AllowanceForDoubtfulTradeReceivablesDeferredTax' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Allowance for doubtful trade receivables deferred tax</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_AllowanceForDoubtfulTradeReceivablesDeferredTax' xlink:to='lab_fil_AllowanceForDoubtfulTradeReceivablesDeferredTax'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_PrincipalPayments2017' xlink:label='fil_PrincipalPayments2017'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_PrincipalPayments2017' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Principal Payments 2017</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_PrincipalPayments2017' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Amount of the total principal payments made during the annual reporting period.</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_PrincipalPayments2017' xlink:to='lab_fil_PrincipalPayments2017'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_LoanInterest' xlink:label='fil_LoanInterest'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_LoanInterest' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Loan interest</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_LoanInterest' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>LoanInterest</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_LoanInterest' xlink:to='lab_fil_LoanInterest'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_AnnualAmortization2019' xlink:label='fil_AnnualAmortization2019'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_AnnualAmortization2019' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Annual amortization 2019</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_AnnualAmortization2019' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Annual amortization 2019</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_AnnualAmortization2019' xlink:to='lab_fil_AnnualAmortization2019'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_EstimatedAggregateAnnualAmortizationExpenseForNextFiveYearsAndThereafterAbstract' xlink:label='fil_EstimatedAggregateAnnualAmortizationExpenseForNextFiveYearsAndThereafterAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_EstimatedAggregateAnnualAmortizationExpenseForNextFiveYearsAndThereafterAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Estimated Aggregate Annual Amortization expense for next five years and thereafter</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_EstimatedAggregateAnnualAmortizationExpenseForNextFiveYearsAndThereafterAbstract' xlink:to='lab_fil_EstimatedAggregateAnnualAmortizationExpenseForNextFiveYearsAndThereafterAbstract'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_AccumulatedAmortizationIntangibleAssetsSFDAApprovedMedicalFormulas' xlink:label='fil_AccumulatedAmortizationIntangibleAssetsSFDAApprovedMedicalFormulas'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_AccumulatedAmortizationIntangibleAssetsSFDAApprovedMedicalFormulas' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Accumulated amortization Intangible assets SFDA Approved Medical Formulas</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_AccumulatedAmortizationIntangibleAssetsSFDAApprovedMedicalFormulas' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Accumulated amortization Intangible assets SFDA Approved Medical Formulas</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_AccumulatedAmortizationIntangibleAssetsSFDAApprovedMedicalFormulas' xlink:to='lab_fil_AccumulatedAmortizationIntangibleAssetsSFDAApprovedMedicalFormulas'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_BuildingMaximumLife' xlink:label='fil_BuildingMaximumLife'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_BuildingMaximumLife' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Building maximum life</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_BuildingMaximumLife' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>The maximum useful life of long-lived, physical assets used in the normal conduct of business and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_BuildingMaximumLife' xlink:to='lab_fil_BuildingMaximumLife'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_RecognizedImpairmentLossOnIntangibleAssets' xlink:label='fil_RecognizedImpairmentLossOnIntangibleAssets'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_RecognizedImpairmentLossOnIntangibleAssets' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Recognized impairment loss on intangible assets</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_RecognizedImpairmentLossOnIntangibleAssets' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Recognized impairment loss on intangible assets</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_RecognizedImpairmentLossOnIntangibleAssets' xlink:to='lab_fil_RecognizedImpairmentLossOnIntangibleAssets'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ScheduleOfDebtInstrumentsTextBlock' xlink:label='us-gaap_ScheduleOfDebtInstrumentsTextBlock'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_ScheduleOfDebtInstrumentsTextBlock' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Schedule of Long-term Debt Instruments</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_ScheduleOfDebtInstrumentsTextBlock' xlink:to='lab_us-gaap_ScheduleOfDebtInstrumentsTextBlock'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_PropertyPlantAndEquipmentPolicyTextBlock' xlink:label='us-gaap_PropertyPlantAndEquipmentPolicyTextBlock'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Property, Plant and Equipment, Policy</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_PropertyPlantAndEquipmentPolicyTextBlock' xlink:to='lab_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_InventoryDisclosureAbstract' xlink:label='us-gaap_InventoryDisclosureAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_InventoryDisclosureAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>INVENTORY</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_InventoryDisclosureAbstract' xlink:to='lab_us-gaap_InventoryDisclosureAbstract'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_IndefiniteLivedIntangibleAssetsPeriodIncreaseDecrease' xlink:label='us-gaap_IndefiniteLivedIntangibleAssetsPeriodIncreaseDecrease'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_IndefiniteLivedIntangibleAssetsPeriodIncreaseDecrease' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Advances for purchases of intangible assets {1}</link:label>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_IndefiniteLivedIntangibleAssetsPeriodIncreaseDecrease' xlink:role='http://www.xbrl.org/2003/role/terseLabel' xml:lang='en-US'>Advances for purchases of intangible assets</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_IndefiniteLivedIntangibleAssetsPeriodIncreaseDecrease' xlink:to='lab_us-gaap_IndefiniteLivedIntangibleAssetsPeriodIncreaseDecrease'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_EarningsPerShareDiluted' xlink:label='us-gaap_EarningsPerShareDiluted'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_EarningsPerShareDiluted' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Diluted</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_EarningsPerShareDiluted' xlink:to='lab_us-gaap_EarningsPerShareDiluted'/>
		<link:loc xlink:type='locator' xlink:href='cphi-20141231.xsd#fil_SubsidyIncome' xlink:label='fil_SubsidyIncome'/>
		<link:label xlink:type='resource' xlink:label='lab_fil_SubsidyIncome' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Subsidy income</link:label>
		<link:label xlink:type='resource' xlink:label='lab_fil_SubsidyIncome' xlink:role='http://www.xbrl.org/2003/role/documentation' xml:lang='en-US'>Subsidy income</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='fil_SubsidyIncome' xlink:to='lab_fil_SubsidyIncome'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_SellingExpense' xlink:label='us-gaap_SellingExpense'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_SellingExpense' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Selling expenses</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_SellingExpense' xlink:to='lab_us-gaap_SellingExpense'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_CommonStockParOrStatedValuePerShare' xlink:label='us-gaap_CommonStockParOrStatedValuePerShare'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_CommonStockParOrStatedValuePerShare' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Common Stock, par or stated value</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_CommonStockParOrStatedValuePerShare' xlink:to='lab_us-gaap_CommonStockParOrStatedValuePerShare'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_StockholdersEquityAbstract' xlink:label='us-gaap_StockholdersEquityAbstract'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_StockholdersEquityAbstract' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Stockholders&apos; Equity:</link:label>
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		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_DeferredTaxLiabilitiesNoncurrent' xlink:label='us-gaap_DeferredTaxLiabilitiesNoncurrent'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_DeferredTaxLiabilitiesNoncurrent' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Long-term deferred tax liability</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_DeferredTaxLiabilitiesNoncurrent' xlink:to='lab_us-gaap_DeferredTaxLiabilitiesNoncurrent'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_NotesPayableCurrent' xlink:label='us-gaap_NotesPayableCurrent'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_NotesPayableCurrent' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Short-term notes payable</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_NotesPayableCurrent' xlink:to='lab_us-gaap_NotesPayableCurrent'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet' xlink:label='us-gaap_PropertyPlantAndEquipmentNet'/>
		<link:label xlink:type='resource' xlink:label='lab_us-gaap_PropertyPlantAndEquipmentNet' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Property and equipment, net of accumulated depreciation of $6,640,718 and $5,264,350, respectively</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='us-gaap_PropertyPlantAndEquipmentNet' xlink:to='lab_us-gaap_PropertyPlantAndEquipmentNet'/>
		<link:loc xlink:type='locator' xlink:href='http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_CurrentFiscalYearEndDate' xlink:label='dei_CurrentFiscalYearEndDate'/>
		<link:label xlink:type='resource' xlink:label='lab_dei_CurrentFiscalYearEndDate' xlink:role='http://www.xbrl.org/2003/role/label' xml:lang='en-US'>Current Fiscal Year End Date</link:label>
		<link:labelArc order='1.0' xlink:type='arc' xlink:arcrole='http://www.xbrl.org/2003/arcrole/concept-label' xlink:from='dei_CurrentFiscalYearEndDate' xlink:to='lab_dei_CurrentFiscalYearEndDate'/>
	</link:labelLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>18
<FILENAME>cphi-20141231_pre.xml
<TEXT>
<XBRL>
<?xml version='1.0' encoding='iso-8859-1'?>
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EQJAC">
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          <div style="width: 200px;"><strong>PROPERTY AND EQUIPMENT Assets Life (Details)<br></strong></div>
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          <div>Dec. 31, 2014</div>
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      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_PROPERTYANDEQUIPMENTAssetsLifeAbstract', window );"><strong>PROPERTY AND EQUIPMENT Assets Life</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_PermitOfLandUseMinimumLife', window );">Permit of land use minimum life</a></td>
        <td class="nump"><a title="fil_PermitOfLandUseMinimumLife" onclick="toggleNextSibling(this);">40</a><span style="display:none;white-space:normal;text-align:left;">fil_PermitOfLandUseMinimumLife</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_PermitOfLandUseMaximumLife', window );">Permit of land use maximum life</a></td>
        <td class="nump"><a title="fil_PermitOfLandUseMaximumLife" onclick="toggleNextSibling(this);">70</a><span style="display:none;white-space:normal;text-align:left;">fil_PermitOfLandUseMaximumLife</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_BuildingMinimumLife', window );">Building minimum life</a></td>
        <td class="nump"><a title="fil_BuildingMinimumLife" onclick="toggleNextSibling(this);">20</a><span style="display:none;white-space:normal;text-align:left;">fil_BuildingMinimumLife</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_BuildingMaximumLife', window );">Building maximum life</a></td>
        <td class="nump"><a title="fil_BuildingMaximumLife" onclick="toggleNextSibling(this);">49</a><span style="display:none;white-space:normal;text-align:left;">fil_BuildingMaximumLife</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_PlantMachineryAndEquipmentMinimumLife', window );">Plant, machinery and equipment minimum life</a></td>
        <td class="nump"><a title="fil_PlantMachineryAndEquipmentMinimumLife" onclick="toggleNextSibling(this);">5</a><span style="display:none;white-space:normal;text-align:left;">fil_PlantMachineryAndEquipmentMinimumLife</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_PlantMachineryAndEquipmentMaximumLife', window );">Plant, machinery and equipment maximum life</a></td>
        <td class="nump"><a title="fil_PlantMachineryAndEquipmentMaximumLife" onclick="toggleNextSibling(this);">10</a><span style="display:none;white-space:normal;text-align:left;">fil_PlantMachineryAndEquipmentMaximumLife</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_MotorVehicleMinimumLife', window );">Motor vehicle minimum life</a></td>
        <td class="nump"><a title="fil_MotorVehicleMinimumLife" onclick="toggleNextSibling(this);">5</a><span style="display:none;white-space:normal;text-align:left;">fil_MotorVehicleMinimumLife</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_MotorVehicleMaximumLife', window );">Motor vehicle maximum life</a></td>
        <td class="nump"><a title="fil_MotorVehicleMaximumLife" onclick="toggleNextSibling(this);">10</a><span style="display:none;white-space:normal;text-align:left;">fil_MotorVehicleMaximumLife</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_OfficeEquipmentMinimumLife', window );">Office equipment minimum life</a></td>
        <td class="nump"><a title="fil_OfficeEquipmentMinimumLife" onclick="toggleNextSibling(this);">3</a><span style="display:none;white-space:normal;text-align:left;">fil_OfficeEquipmentMinimumLife</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_OfficeEquipmentMaximumLife', window );">Office equipment maximum life</a></td>
        <td class="nump"><a title="fil_OfficeEquipmentMaximumLife" onclick="toggleNextSibling(this);">5</a><span style="display:none;white-space:normal;text-align:left;">fil_OfficeEquipmentMaximumLife</span><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_BuildingMaximumLife">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The maximum useful life of long-lived, physical assets used in the normal conduct of business and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_BuildingMaximumLife</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:pureItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_BuildingMinimumLife">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The minimum useful life of long lived, physical assets used in the normal conduct of business and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_BuildingMinimumLife</td>
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                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:pureItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_MotorVehicleMaximumLife">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The maximum useful life of long-lived, physical assets used in the normal conduct of business and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_MotorVehicleMaximumLife</td>
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                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:pureItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_MotorVehicleMinimumLife">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The minimum useful life of long lived, physical assets used in the normal conduct of business and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_MotorVehicleMinimumLife</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:pureItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_OfficeEquipmentMaximumLife">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The maximum useful life of long-lived, physical assets used in the normal conduct of business and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_OfficeEquipmentMaximumLife</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:pureItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_OfficeEquipmentMinimumLife">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The minimum useful life of long lived, physical assets used in the normal conduct of business and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_OfficeEquipmentMinimumLife</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:pureItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_PermitOfLandUseMaximumLife">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The maximum useful life of long-lived, physical assets used in the normal conduct of business and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_PermitOfLandUseMaximumLife</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:pureItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_PermitOfLandUseMinimumLife">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The minimum useful life of long lived, physical assets used in the normal conduct of business and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_PermitOfLandUseMinimumLife</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:pureItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_PlantMachineryAndEquipmentMaximumLife">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tangible assets that are held by an entity for use in the production or supply of goods and services, for rental to others, or for administrative purposes and that are expected to provide economic benefit for more than one year; net of accumulated depreciation. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_PlantMachineryAndEquipmentMaximumLife</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:decimalItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_PlantMachineryAndEquipmentMinimumLife">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tangible assets that are held by an entity for use in the production or supply of goods and services, for rental to others, or for administrative purposes and that are expected to provide economic benefit for more than one year; net of accumulated depreciation. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_PlantMachineryAndEquipmentMinimumLife</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:decimalItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_PROPERTYANDEQUIPMENTAssetsLifeAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_PROPERTYANDEQUIPMENTAssetsLifeAbstract</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>20
<FILENAME>R54.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <title></title>
    <link rel="stylesheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else {
							e.nextSibling.style.display='none';
							}
							}</script></head>
  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EXMAC">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>FAIR VALUE MEASUREMENTS At Reporting Date Using (Details) (USD $)<br></strong></div>
        </th>
        <th class="th">
          <div>Dec. 31, 2014</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_FAIRVALUEMEASUREMENTSAtReportingDateUsingAbstract', window );"><strong>FAIR VALUE MEASUREMENTS At Reporting Date Using</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_BankersAcceptanceNotes', window );">Bankers acceptance notes</a></td>
        <td class="nump"><a title="fil_BankersAcceptanceNotes" onclick="toggleNextSibling(this);">$ 458,233</a><span style="display:none;white-space:normal;text-align:left;">fil_BankersAcceptanceNotes</span><span></span></td>
        <td class="nump"><a title="fil_BankersAcceptanceNotes" onclick="toggleNextSibling(this);">$ 336,003</a><span style="display:none;white-space:normal;text-align:left;">fil_BankersAcceptanceNotes</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_Total1', window );">Total</a></td>
        <td class="nump"><a title="fil_Total1" onclick="toggleNextSibling(this);">458,233</a><span style="display:none;white-space:normal;text-align:left;">fil_Total1</span><span></span></td>
        <td class="nump"><a title="fil_Total1" onclick="toggleNextSibling(this);">336,003</a><span style="display:none;white-space:normal;text-align:left;">fil_Total1</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_BankersAcceptanceNotesLevel1', window );">Bankers acceptance notes Level 1</a></td>
        <td class="nump"><a title="fil_BankersAcceptanceNotesLevel1" onclick="toggleNextSibling(this);">0</a><span style="display:none;white-space:normal;text-align:left;">fil_BankersAcceptanceNotesLevel1</span><span></span></td>
        <td class="nump"><a title="fil_BankersAcceptanceNotesLevel1" onclick="toggleNextSibling(this);">0</a><span style="display:none;white-space:normal;text-align:left;">fil_BankersAcceptanceNotesLevel1</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_TotalLevel1', window );">Total Level 1</a></td>
        <td class="nump"><a title="fil_TotalLevel1" onclick="toggleNextSibling(this);">0</a><span style="display:none;white-space:normal;text-align:left;">fil_TotalLevel1</span><span></span></td>
        <td class="nump"><a title="fil_TotalLevel1" onclick="toggleNextSibling(this);">0</a><span style="display:none;white-space:normal;text-align:left;">fil_TotalLevel1</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_BankersAcceptanceNotesLevel2', window );">Bankers acceptance notes Level 2</a></td>
        <td class="nump"><a title="fil_BankersAcceptanceNotesLevel2" onclick="toggleNextSibling(this);">458,233</a><span style="display:none;white-space:normal;text-align:left;">fil_BankersAcceptanceNotesLevel2</span><span></span></td>
        <td class="nump"><a title="fil_BankersAcceptanceNotesLevel2" onclick="toggleNextSibling(this);">336,003</a><span style="display:none;white-space:normal;text-align:left;">fil_BankersAcceptanceNotesLevel2</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_TotalLevel2', window );">Total Level 2</a></td>
        <td class="nump"><a title="fil_TotalLevel2" onclick="toggleNextSibling(this);">458,233</a><span style="display:none;white-space:normal;text-align:left;">fil_TotalLevel2</span><span></span></td>
        <td class="nump"><a title="fil_TotalLevel2" onclick="toggleNextSibling(this);">336,003</a><span style="display:none;white-space:normal;text-align:left;">fil_TotalLevel2</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_BankersAcceptanceNotesLevel3', window );">Bankers acceptance notes Level 3</a></td>
        <td class="nump"><a title="fil_BankersAcceptanceNotesLevel3" onclick="toggleNextSibling(this);">0</a><span style="display:none;white-space:normal;text-align:left;">fil_BankersAcceptanceNotesLevel3</span><span></span></td>
        <td class="nump"><a title="fil_BankersAcceptanceNotesLevel3" onclick="toggleNextSibling(this);">0</a><span style="display:none;white-space:normal;text-align:left;">fil_BankersAcceptanceNotesLevel3</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_TotalLevel3', window );">Total Level 3</a></td>
        <td class="nump"><a title="fil_TotalLevel3" onclick="toggleNextSibling(this);">$ 0</a><span style="display:none;white-space:normal;text-align:left;">fil_TotalLevel3</span><span></span></td>
        <td class="nump"><a title="fil_TotalLevel3" onclick="toggleNextSibling(this);">$ 0</a><span style="display:none;white-space:normal;text-align:left;">fil_TotalLevel3</span><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_BankersAcceptanceNotes">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Bankers acceptance notes,</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_BankersAcceptanceNotes</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_BankersAcceptanceNotesLevel1">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Bankers acceptance notes Level 1</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_BankersAcceptanceNotesLevel1</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_BankersAcceptanceNotesLevel2">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Bankers acceptance notes Level 2</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_BankersAcceptanceNotesLevel2</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_BankersAcceptanceNotesLevel3">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Bankers acceptance notes Level 3</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_BankersAcceptanceNotesLevel3</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_FAIRVALUEMEASUREMENTSAtReportingDateUsingAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_FAIRVALUEMEASUREMENTSAtReportingDateUsingAbstract</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_Total1">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total bankers acceptance notes</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_Total1</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_TotalLevel1">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Bankers acceptance notes total Level 1</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_TotalLevel1</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_TotalLevel2">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Bankers acceptance notes Level 2 total</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_TotalLevel2</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_TotalLevel3">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Bankers acceptance notes Level 3 total</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_TotalLevel3</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>21
<FILENAME>R48.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <title></title>
    <link rel="stylesheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else {
							e.nextSibling.style.display='none';
							}
							}</script></head>
  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0ERBAC">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>CONSTRUCTION LOAN FACILITY (Details) (USD $)<br></strong></div>
        </th>
        <th class="th">
          <div>Dec. 31, 2014</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_ConstructionLoanFacilityDetailsAbstract', window );"><strong>Construction loan facility details</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_TotalLoanFacilityAmountRmb800000001', window );">Total loan facility amount (RMB 80,000,)000</a></td>
        <td class="nump"><a title="fil_TotalLoanFacilityAmountRmb800000001" onclick="toggleNextSibling(this);">$ 13,000,000</a><span style="display:none;white-space:normal;text-align:left;">fil_TotalLoanFacilityAmountRmb800000001</span><span></span></td>
        <td class="nump"><a title="fil_TotalLoanFacilityAmountRmb800000001" onclick="toggleNextSibling(this);">$ 12,500,000</a><span style="display:none;white-space:normal;text-align:left;">fil_TotalLoanFacilityAmountRmb800000001</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_LoanInterest', window );">Loan interest</a></td>
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        <td class="nump"><a title="fil_LoanInterest" onclick="toggleNextSibling(this);">7.21%</a><span style="display:none;white-space:normal;text-align:left;">fil_LoanInterest</span><span></span></td>
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                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_ConstructionLoanFacilityDetailsAbstract</td>
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                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>LoanInterest</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                <p>Total loan facility provided by the bank or finance company based on the security or eligibility provided by the company</p>
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                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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<DOCUMENT>
<TYPE>EXCEL
<SEQUENCE>22
<FILENAME>Financial_Report.xlsx
<DESCRIPTION>IDEA: XBRL DOCUMENT
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end

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>23
<FILENAME>R55.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
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    <title></title>
    <link rel="stylesheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0E2CAC">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>Preferred Common Stock And Warrants (Details) (USD $)<br></strong></div>
        </th>
        <th class="th">
          <div>Dec. 31, 2014</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_STOCKHOLDERSEQUITYPreferredCommonStockAndWarrantsAbstract', window );"><strong>Preferred Common Stock And Warrants</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_CommonSharesAuthorized', window );">Common shares authorized</a></td>
        <td class="nump"><a title="fil_CommonSharesAuthorized" onclick="toggleNextSibling(this);">95,000,000</a><span style="display:none;white-space:normal;text-align:left;">fil_CommonSharesAuthorized</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_PreferredSharesAuthorized', window );">Preferred shares authorized</a></td>
        <td class="nump"><a title="fil_PreferredSharesAuthorized" onclick="toggleNextSibling(this);">5,000,000</a><span style="display:none;white-space:normal;text-align:left;">fil_PreferredSharesAuthorized</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_NumberOfCommonStockSharesToPurchaseByWarrantsOutstaningAndExercisable', window );">Number of common stock shares to purchase by warrants outstaning and exercisable</a></td>
        <td class="nump"><a title="fil_NumberOfCommonStockSharesToPurchaseByWarrantsOutstaningAndExercisable" onclick="toggleNextSibling(this);">150,000</a><span style="display:none;white-space:normal;text-align:left;">fil_NumberOfCommonStockSharesToPurchaseByWarrantsOutstaningAndExercisable</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_WarrantsStartRangeExercisePrice', window );">Warrants start range exercise price</a></td>
        <td class="nump"><a title="fil_WarrantsStartRangeExercisePrice" onclick="toggleNextSibling(this);">$ 3.00</a><span style="display:none;white-space:normal;text-align:left;">fil_WarrantsStartRangeExercisePrice</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_WarrantsEndRangeExercisePrice', window );">Warrants end range exercise price</a></td>
        <td class="nump"><a title="fil_WarrantsEndRangeExercisePrice" onclick="toggleNextSibling(this);">$ 3.80</a><span style="display:none;white-space:normal;text-align:left;">fil_WarrantsEndRangeExercisePrice</span><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_CommonSharesAuthorized">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The maximum number of common shares permitted to be issued by an entity's charter and bylaws.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                  <tr>
                    <td><strong> Name:</strong></td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of common stock shares to purchase by warrants outstaning and exercisable</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                <p>Warrants start range exercise price</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                <p>Warrants start range exercise price</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0E4G">
      <tr>
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          <div style="width: 200px;"><strong>RELATED PARTY TRANSACTIONS Owings (Details) (USD $)<br></strong></div>
        </th>
        <th class="th">
          <div>Dec. 31, 2014</div>
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        <th class="th">
          <div>Dec. 31, 2013</div>
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        <td class="nump"><a title="fil_AdavanceOwingToBoardmember" onclick="toggleNextSibling(this);">$ 1,354,567</a><span style="display:none;white-space:normal;text-align:left;">fil_AdavanceOwingToBoardmember</span><span></span></td>
        <td class="nump"><a title="fil_AdavanceOwingToBoardmember" onclick="toggleNextSibling(this);">$ 1,354,567</a><span style="display:none;white-space:normal;text-align:left;">fil_AdavanceOwingToBoardmember</span><span></span></td>
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                <p>Adavance owing to boardmember</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>Losses from natural disaster (Details) (USD $)<br></strong></div>
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        <th class="th">
          <div>Jul. 18, 2014</div>
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        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_LossesFromNaturalDisasterConsistsOfAbstract', window );"><strong>Losses from natural disaster consists of</strong></a></td>
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        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_CompanySManufacturingFacilitiesAndInventorySustainedStormDamageOfInventoryRelatedCosts1', window );">Company's manufacturing facilities and inventory sustained storm damage of inventory related costs</a></td>
        <td class="nump"><a title="fil_CompanySManufacturingFacilitiesAndInventorySustainedStormDamageOfInventoryRelatedCosts1" onclick="toggleNextSibling(this);">$ 2,016,068</a><span style="display:none;white-space:normal;text-align:left;">fil_CompanySManufacturingFacilitiesAndInventorySustainedStormDamageOfInventoryRelatedCosts1</span><span></span></td>
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        <td class="nump"><a title="fil_CompanySManufacturingFacilitiesAndInventorySustainedStormDamageOfOfFacilitiesDamageCosts" onclick="toggleNextSibling(this);">$ 260,451</a><span style="display:none;white-space:normal;text-align:left;">fil_CompanySManufacturingFacilitiesAndInventorySustainedStormDamageOfOfFacilitiesDamageCosts</span><span></span></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Manfacturing facilties and inventory sustained the storminventory related costs.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
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                <p>Company's manufacturing facilities and inventory sustained storm damage of of facilities damage costs</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
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<DOCUMENT>
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<html>
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EHH">
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        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>PROPERTY AND EQUIPMENT (Tables)<br></strong></div>
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        <td class="text"><!--egx--><p style='margin:0cm 0cm 0pt'><font lang="EN-US">Property and equipment consisted of the following:</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0" width="90%" style='width:90%'> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="10%" colspan="2" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">December 31,</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="10%" colspan="2" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">December 31,</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="10%" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">2014</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="10%" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">2013</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Permit of land use</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">458,853</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">460,964</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Building</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">11,279,704</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">2,494,623</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Plant, machinery and equipment</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">28,358,694</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">6,671,620</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Motor vehicle</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">150,976</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">151,670</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Office equipment</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">268,521</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">229,210</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Construction in progress</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">5,848</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">25,497,600</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt 9pt'><b><font lang="EN-US">Total</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">40,522,596</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">35,505,687</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Less: accumulated depreciation</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">(6,640,718</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">)</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">(5,264,350</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">)</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">Property and Equipment, net</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">33,881,878</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">30,241,337</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr></table></div><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_AReconciliationOfTotalInterestCostIncurredToInterestExpenseTextBlock', window );">A reconciliation of total interest cost incurred to interest expense</a></td>
        <td class="text"><!--egx--><p style='margin:0cm 0cm 0pt'><font lang="EN-US">.&nbsp;A reconciliation of total interest cost incurred to interest expense as recognized in the consolidated statement of operations is as follows:</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0" width="90%" style='width:90%'> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="22%" colspan="6" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:22%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">For the Year</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="22%" colspan="6" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:22%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">Ended December 31,</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="10%" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">2014</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="10%" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">2013</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Total interest cost incurred</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">1,244,346</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">583,400</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Interest cost capitalized</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">458,542</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">234,704</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Interest expense</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">785,804</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">348,696</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr></table></div> <p style='margin:0cm 0cm 0pt'>&nbsp;</p><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_UsefulLivesOfTheAssetsTableTextBlock', window );">Useful lives of the assets</a></td>
        <td class="text"><!--egx--><p style='margin:0cm 0cm 0pt'><font lang="EN-US">Depreciation is computed on a straight-line basis over the estimated useful lives of the assets as follows:</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0" width="40%" style='width:40%'> <tr> <td valign="top" width="33%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:33%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">Asset</font></p></td> <td valign="top" width="2%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:2%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="top" width="13%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;Life - years</font></p></td></tr> <tr> <td valign="top" width="33%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:33%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Permit of land use</font></p></td> <td valign="top" width="2%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:2%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="top" width="13%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:13%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">40 - 70</font></p></td></tr> <tr> <td valign="top" width="33%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:33%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Building</font></p></td> <td valign="top" width="2%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:2%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="top" width="13%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:13%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">20 - 49</font></p></td></tr> <tr> <td valign="top" width="33%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:33%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Plant, machinery and equipment</font></p></td> <td valign="top" width="2%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:2%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="top" width="13%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:13%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">5 - 10</font></p></td></tr> <tr> <td valign="top" width="33%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:33%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Motor vehicle</font></p></td> <td valign="top" width="2%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:2%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="top" width="13%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:13%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">5 - 10</font></p></td></tr> <tr> <td valign="top" width="33%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:33%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Office equipment</font></p></td> <td valign="top" width="2%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:2%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="top" width="13%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:13%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">3-5</font></p></td></tr></table></div> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p><span></span></td>
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                <p>Tabular disclosure of useful lives of the assets.</p>
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                <p>Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.</p>
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EMIAC">
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          <div style="width: 200px;"><strong>INCOME TAXES Undistributed Earnings And Income Tax Rates (Details) (USD $)<br></strong></div>
        </th>
        <th class="th">
          <div>Dec. 31, 2014</div>
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        <td class="text">&#xA0;<span></span></td>
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        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_UndistributedEarningsOfHelpson', window );">Undistributed earnings of Helpson</a></td>
        <td class="nump"><a title="fil_UndistributedEarningsOfHelpson" onclick="toggleNextSibling(this);">$ 94,000,000</a><span style="display:none;white-space:normal;text-align:left;">fil_UndistributedEarningsOfHelpson</span><span></span></td>
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        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_InvestmentInHelpsonAForeignSubsidiaryForTheCompany', window );">Investment in Helpson, a foreign subsidiary for the company</a></td>
        <td class="nump"><a title="fil_InvestmentInHelpsonAForeignSubsidiaryForTheCompany" onclick="toggleNextSibling(this);">23,300,000</a><span style="display:none;white-space:normal;text-align:left;">fil_InvestmentInHelpsonAForeignSubsidiaryForTheCompany</span><span></span></td>
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        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_EnterpriseIncomeTaxRatesForTheYear2013', window );">Enterprise Income Tax Rates for the year 2013</a></td>
        <td class="nump"><a title="fil_EnterpriseIncomeTaxRatesForTheYear2013" onclick="toggleNextSibling(this);">15.00%</a><span style="display:none;white-space:normal;text-align:left;">fil_EnterpriseIncomeTaxRatesForTheYear2013</span><span></span></td>
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        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_EnterpriseIncomeTaxRatesForTheYear2014', window );">Enterprise Income Tax Rates for the year 2014</a></td>
        <td class="nump"><a title="fil_EnterpriseIncomeTaxRatesForTheYear2014" onclick="toggleNextSibling(this);">15.00%</a><span style="display:none;white-space:normal;text-align:left;">fil_EnterpriseIncomeTaxRatesForTheYear2014</span><span></span></td>
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        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_EnterpriseIncomeTaxRatesForTheYear2015', window );">Enterprise Income Tax Rates for the year 2015</a></td>
        <td class="nump"><a title="fil_EnterpriseIncomeTaxRatesForTheYear2015" onclick="toggleNextSibling(this);">15.00%</a><span style="display:none;white-space:normal;text-align:left;">fil_EnterpriseIncomeTaxRatesForTheYear2015</span><span></span></td>
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        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_EnterpriseIncomeTaxRatesForTheYear2016', window );">Enterprise Income Tax Rates for the year 2016</a></td>
        <td class="nump"><a title="fil_EnterpriseIncomeTaxRatesForTheYear2016" onclick="toggleNextSibling(this);">15.00%</a><span style="display:none;white-space:normal;text-align:left;">fil_EnterpriseIncomeTaxRatesForTheYear2016</span><span></span></td>
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        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_EnterpriseIncomeTaxRatesForTheYear2016ThereAfter', window );">Enterprise Income Tax Rates for the year 2016 There after</a></td>
        <td class="nump"><a title="fil_EnterpriseIncomeTaxRatesForTheYear2016ThereAfter" onclick="toggleNextSibling(this);">25.00%</a><span style="display:none;white-space:normal;text-align:left;">fil_EnterpriseIncomeTaxRatesForTheYear2016ThereAfter</span><span></span></td>
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        <td class="nump"><a title="fil_NetOperatingLossCarryforwardsForPrcTaxPurposes" onclick="toggleNextSibling(this);">11,300,000</a><span style="display:none;white-space:normal;text-align:left;">fil_NetOperatingLossCarryforwardsForPrcTaxPurposes</span><span></span></td>
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        <td class="nump"><a title="fil_NetOperatingLossCarryforwardsForUsFederalIncomeTaxPurposes" onclick="toggleNextSibling(this);">$ 3,500,000</a><span style="display:none;white-space:normal;text-align:left;">fil_NetOperatingLossCarryforwardsForUsFederalIncomeTaxPurposes</span><span></span></td>
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                <p>Enterprise Income Tax Rates for the year 2013</p>
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                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>EnterpriseIncomeTaxRatesForTheYear2015</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_EnterpriseIncomeTaxRatesForTheYear2015</td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>EnterpriseIncomeTaxRatesForTheYear2015</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_EnterpriseIncomeTaxRatesForTheYear2016</td>
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                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Enterprise Income Tax Rates for the year 2016 There after</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_EnterpriseIncomeTaxRatesForTheYear2016ThereAfter</td>
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                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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                    <td><strong> Data Type:</strong></td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_INCOMETAXESUndistributedEarningsAbstract</td>
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                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Investment in Helpson, a foreign subsidiary for the company</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_InvestmentInHelpsonAForeignSubsidiaryForTheCompany</td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>NetOperatingLossCarryforwardsForPrcTaxPurposes</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_NetOperatingLossCarryforwardsForPrcTaxPurposes</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td>credit</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The sum of domestic, foreign and state and local operating loss carryforwards, before tax effects, available to reduce future taxable income under enacted tax laws</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_NetOperatingLossCarryforwardsForUsFederalIncomeTaxPurposes</td>
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                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_UndistributedEarningsOfHelpson">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Earnings of Helpson is not distributed during the period</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_UndistributedEarningsOfHelpson</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td>credit</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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</DOCUMENT>
<DOCUMENT>
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<TEXT>
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  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
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    <link rel="stylesheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0E3CAC">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>INTANGIBLE ASSETS CFDA Approved Medical Formulas (Details) (USD $)<br></strong></div>
        </th>
        <th class="th">
          <div>Dec. 31, 2014</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_IntangibleAssetsCfdaApprovedMedicalFormulasAbstract', window );"><strong>INTANGIBLE ASSETS CFDA Approved Medical Formulas</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_GrossCarryingAmount', window );">Gross carrying amount</a></td>
        <td class="nump"><a title="fil_GrossCarryingAmount" onclick="toggleNextSibling(this);">$ 5,499,494</a><span style="display:none;white-space:normal;text-align:left;">fil_GrossCarryingAmount</span><span></span></td>
        <td class="nump"><a title="fil_GrossCarryingAmount" onclick="toggleNextSibling(this);">$ 5,524,785</a><span style="display:none;white-space:normal;text-align:left;">fil_GrossCarryingAmount</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_AccumulatedAmortizationIntangibleAssetsSFDAApprovedMedicalFormulas', window );">Accumulated amortization Intangible assets SFDA Approved Medical Formulas</a></td>
        <td class="num"><a title="fil_AccumulatedAmortizationIntangibleAssetsSFDAApprovedMedicalFormulas" onclick="toggleNextSibling(this);">(4,182,273)</a><span style="display:none;white-space:normal;text-align:left;">fil_AccumulatedAmortizationIntangibleAssetsSFDAApprovedMedicalFormulas</span><span></span></td>
        <td class="num"><a title="fil_AccumulatedAmortizationIntangibleAssetsSFDAApprovedMedicalFormulas" onclick="toggleNextSibling(this);">(3,812,992)</a><span style="display:none;white-space:normal;text-align:left;">fil_AccumulatedAmortizationIntangibleAssetsSFDAApprovedMedicalFormulas</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_NetCarryingAmount', window );">Net carrying amount</a></td>
        <td class="nump"><a title="fil_NetCarryingAmount" onclick="toggleNextSibling(this);">$ 1,317,221</a><span style="display:none;white-space:normal;text-align:left;">fil_NetCarryingAmount</span><span></span></td>
        <td class="nump"><a title="fil_NetCarryingAmount" onclick="toggleNextSibling(this);">$ 1,711,793</a><span style="display:none;white-space:normal;text-align:left;">fil_NetCarryingAmount</span><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_AccumulatedAmortizationIntangibleAssetsSFDAApprovedMedicalFormulas">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Accumulated amortization Intangible assets SFDA Approved Medical Formulas</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_AccumulatedAmortizationIntangibleAssetsSFDAApprovedMedicalFormulas</td>
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                    <td>xbrli:monetaryItemType</td>
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        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Gross carrying amount</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_GrossCarryingAmount</td>
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                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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        <tr>
          <td>
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                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_IntangibleAssetsCfdaApprovedMedicalFormulasAbstract</td>
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                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
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                    <td>na</td>
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                    <td>duration</td>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Net carrying amount</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
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                    <td>fil_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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                </table>
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            </div>
          </td>
        </tr>
      </table>
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  </body>
</html>
</TEXT>
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0E3CAC">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>INVENTORY. (Details) (USD $)<br></strong></div>
        </th>
        <th class="th">
          <div>Dec. 31, 2014</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_INVENTORYABSTRACTAbstract', window );"><strong>INVENTORY ABSTRACT</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_Rawmaterials1', window );">Raw materials</a></td>
        <td class="nump"><a title="fil_Rawmaterials1" onclick="toggleNextSibling(this);">$ 18,819,570</a><span style="display:none;white-space:normal;text-align:left;">fil_Rawmaterials1</span><span></span></td>
        <td class="nump"><a title="fil_Rawmaterials1" onclick="toggleNextSibling(this);">$ 28,259,707</a><span style="display:none;white-space:normal;text-align:left;">fil_Rawmaterials1</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_Finishedgoods1', window );">Finished goods</a></td>
        <td class="nump"><a title="fil_Finishedgoods1" onclick="toggleNextSibling(this);">3,436,330</a><span style="display:none;white-space:normal;text-align:left;">fil_Finishedgoods1</span><span></span></td>
        <td class="nump"><a title="fil_Finishedgoods1" onclick="toggleNextSibling(this);">3,590,937</a><span style="display:none;white-space:normal;text-align:left;">fil_Finishedgoods1</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_InventoryGross1', window );">Inventory Gross</a></td>
        <td class="nump"><a title="fil_InventoryGross1" onclick="toggleNextSibling(this);">$ 22,255,900</a><span style="display:none;white-space:normal;text-align:left;">fil_InventoryGross1</span><span></span></td>
        <td class="nump"><a title="fil_InventoryGross1" onclick="toggleNextSibling(this);">$ 32,704,246</a><span style="display:none;white-space:normal;text-align:left;">fil_InventoryGross1</span><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_Finishedgoods1">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Rawmaterials1</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_Finishedgoods1</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_INVENTORYABSTRACTAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_INVENTORYABSTRACTAbstract</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_InventoryGross1">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>InventoryGross1</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_InventoryGross1</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_Rawmaterials1">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Rawmaterials1</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_Rawmaterials1</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
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</TEXT>
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<TYPE>XML
<SEQUENCE>32
<FILENAME>R52.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <title></title>
    <link rel="stylesheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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							} else {
							e.nextSibling.style.display='none';
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EBJAC">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Reconciliation of income taxes (Details) (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="2">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2014</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_ReconciliationOfIncomeTaxesAbstract', window );"><strong>Reconciliation of income taxes</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_TaxAtStatutoryRateOf25', window );">Tax at statutory rate of 25%</a></td>
        <td class="num"><a title="fil_TaxAtStatutoryRateOf25" onclick="toggleNextSibling(this);">$ (6,511,844)</a><span style="display:none;white-space:normal;text-align:left;">fil_TaxAtStatutoryRateOf25</span><span></span></td>
        <td class="num"><a title="fil_TaxAtStatutoryRateOf25" onclick="toggleNextSibling(this);">$ (4,736,660)</a><span style="display:none;white-space:normal;text-align:left;">fil_TaxAtStatutoryRateOf25</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_CurrentAndPriorYears', window );">Current and prior years</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump"><a title="fil_CurrentAndPriorYears" onclick="toggleNextSibling(this);">8,534</a><span style="display:none;white-space:normal;text-align:left;">fil_CurrentAndPriorYears</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_EffectOfTaxHoliday', window );">Effect of tax holiday</a></td>
        <td class="nump"><a title="fil_EffectOfTaxHoliday" onclick="toggleNextSibling(this);">2,563,701</a><span style="display:none;white-space:normal;text-align:left;">fil_EffectOfTaxHoliday</span><span></span></td>
        <td class="nump"><a title="fil_EffectOfTaxHoliday" onclick="toggleNextSibling(this);">1,834,517</a><span style="display:none;white-space:normal;text-align:left;">fil_EffectOfTaxHoliday</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_OtherPrimarilyTheEffectOfUsTaxRates', window );">Other, primarily the effect of US tax rates</a></td>
        <td class="nump"><a title="fil_OtherPrimarilyTheEffectOfUsTaxRates" onclick="toggleNextSibling(this);">7,815</a><span style="display:none;white-space:normal;text-align:left;">fil_OtherPrimarilyTheEffectOfUsTaxRates</span><span></span></td>
        <td class="nump"><a title="fil_OtherPrimarilyTheEffectOfUsTaxRates" onclick="toggleNextSibling(this);">0</a><span style="display:none;white-space:normal;text-align:left;">fil_OtherPrimarilyTheEffectOfUsTaxRates</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_ChangeInValuationAllowanceReconciliation', window );">Change in valuation allowance Reconciliation</a></td>
        <td class="nump"><a title="fil_ChangeInValuationAllowanceReconciliation" onclick="toggleNextSibling(this);">4,017,370</a><span style="display:none;white-space:normal;text-align:left;">fil_ChangeInValuationAllowanceReconciliation</span><span></span></td>
        <td class="nump"><a title="fil_ChangeInValuationAllowanceReconciliation" onclick="toggleNextSibling(this);">3,955,022</a><span style="display:none;white-space:normal;text-align:left;">fil_ChangeInValuationAllowanceReconciliation</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_IncomeTaxExpenseReconciliation', window );">Income tax expense Reconciliation</a></td>
        <td class="nump"><a title="fil_IncomeTaxExpenseReconciliation" onclick="toggleNextSibling(this);">$ 77,042</a><span style="display:none;white-space:normal;text-align:left;">fil_IncomeTaxExpenseReconciliation</span><span></span></td>
        <td class="nump"><a title="fil_IncomeTaxExpenseReconciliation" onclick="toggleNextSibling(this);">$ 1,061,413</a><span style="display:none;white-space:normal;text-align:left;">fil_IncomeTaxExpenseReconciliation</span><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_ChangeInValuationAllowanceReconciliation">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The portion of the difference between total income tax expense or benefit as reported in the Income Statement and the expected income tax expense or benefit computed by applying the domestic federal statutory income tax rates to pretax income from continuing operations attributable to changes in the valuation allowance for deferred tax assets in the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_ChangeInValuationAllowanceReconciliation</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_CurrentAndPriorYears">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The domestic federal statutory tax rate applicable under enacted tax laws to the Company's pretax income from continuing operations for the period. The "statutory" tax rate is the regular tax rate if there are alternative tax systems.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_CurrentAndPriorYears</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_EffectOfTaxHoliday">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The portion of the difference between the effective income tax rate and domestic federal statutory income tax rate attributable to income that is exempt from income tax because of tax holidays an entity has received. A tax "holiday" refers to the tax benefit derived from a jurisdiction that provides an exemption from income taxes for some defined period of time as an incentive to attract business.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_EffectOfTaxHoliday</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_IncomeTaxExpenseReconciliation">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The sum of the differences between total income tax expense or benefit as reported in the Income Statement for the period and the expected income tax expense or benefit computed by applying the domestic federal statutory income tax rates to pretax income from continuing operations attributable to nondeductible expenses under enacted tax laws, or differences in the methodologies used to determine expense amounts for financial statements prepared in accordance with generally accepted accounting principles and enacted tax laws.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_IncomeTaxExpenseReconciliation</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_OtherPrimarilyTheEffectOfUsTaxRates">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The portion of the difference between the effective income tax rate and domestic federal statutory income tax rate attributable to income that is exempt from income tax because of tax holidays an entity has received. A tax "holiday" refers to the tax benefit derived from a jurisdiction that provides an exemption from income taxes for some defined period of time as an incentive to attract business.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_OtherPrimarilyTheEffectOfUsTaxRates</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The domestic federal statutory tax rate applicable under enacted tax laws to the Company's pretax income from continuing operations for the period. The "statutory" tax rate is the regular tax rate if there are alternative tax systems.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
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                    <td><strong> Name:</strong></td>
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EGDAC">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>NOTES PAYABLES. (Details) (USD $)<br></strong></div>
        </th>
        <th class="th">
          <div>Dec. 31, 2014</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_NotesPayable1Abstract', window );"><strong>NOTES PAYABLES</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
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        <td class="nump"><a title="fil_RevolvingLineOfCreditWithABankRmb" onclick="toggleNextSibling(this);">$ 30,000,000</a><span style="display:none;white-space:normal;text-align:left;">fil_RevolvingLineOfCreditWithABankRmb</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_AnnualInterestRate', window );">Annual interest rate</a></td>
        <td class="nump"><a title="fil_AnnualInterestRate" onclick="toggleNextSibling(this);">6.90%</a><span style="display:none;white-space:normal;text-align:left;">fil_AnnualInterestRate</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_OutstandingBalanceDueUnderRevolvingLineOfCreditRMB30000000', window );">Outstanding balance due under revolving line of credit (RMB 30,000,000)</a></td>
        <td class="nump"><a title="fil_OutstandingBalanceDueUnderRevolvingLineOfCreditRMB30000000" onclick="toggleNextSibling(this);">$ 4,887,187</a><span style="display:none;white-space:normal;text-align:left;">fil_OutstandingBalanceDueUnderRevolvingLineOfCreditRMB30000000</span><span></span></td>
        <td class="nump"><a title="fil_OutstandingBalanceDueUnderRevolvingLineOfCreditRMB30000000" onclick="toggleNextSibling(this);">$ 4,909,662</a><span style="display:none;white-space:normal;text-align:left;">fil_OutstandingBalanceDueUnderRevolvingLineOfCreditRMB30000000</span><span></span></td>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Annual interest rate</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Outstanding balance due under revolving line of credit (RMB 30,000,000)</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
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                    <td>xbrli:monetaryItemType</td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EME">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>PRODUCT RECALL<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2014</div>
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        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_PRODUCTRECALLAbstract', window );"><strong>PRODUCT RECALL</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProductWarrantyDisclosureTextBlock', window );">PRODUCT RECALL</a></td>
        <td class="text"><!--egx--><p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">NOTE 3 &#150; PRODUCT RECALL</font></b></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">In March 2013, the China Food and Drug Administration (&#147;CFDA&#148;) issued a nationwide notice (the &#147;CFDA Notice&#148;) for the cessation of the production, sale and use of Buflomedil effective immediately. The CFDA Notice was a result of its reevaluation on the indications from the recent China and international research materials. The CFDA found that the risks of side effects to the nervous system and the cardiovascular system from Buflomedil have surpassed its clinical treatment benefits. The CFDA Notice was applicable to all the manufacturers and distributers in China who are in the business of the production and sale of Buflomedil-related products.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Pursuant to the CFDA Notice, the Company ceased the production and sale of Buflomedil-based products and ceased all promotional and marketing activities for Buflomedil-based products. Furthermore, the Company recognized an inventory obsolescence allowance of approximately $3.7 million for Buflomedil-related raw materials and finished goods inventory. This was recorded as inventory obsolescence on the accompanying statement of operations for the year ended December 31, 2013.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">In addition, the Company recalled Buflomedil-based products from the market. The Company authorized the return of its previously sold Buflomedil-related products through April 30, 2013. The loss from the refunds to customers was $27,507 and was recognized as a reduction of revenues for the year ended December 31, 2013. Under CFDA regulatory provisions, the CFDA notice does not impose legal liability to the manufacturers of Buflomedil as long as they act pursuant to the CFDA Notice to cease the production, sale and use of Buflomedil and destroy such finished goods immediately.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Pursuant to the CFDA Notice, the CFDA revoked all production licenses for Buflomedil-based products. The carrying value of the Company&#146;s Buflomedil-related intangible assets was zero; therefore, no impairment of the Company&#146;s intangible assets was necessary.</font></p><span></span></td>
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                <p>The entire disclosure for standard and extended product warranties and other product guarantee contracts, including a tabular reconciliation of the changes in the guarantor's aggregate product warranty liability for the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 460<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 8<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6398077&amp;loc=d3e12565-110249<br><br><br><br></p>
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                    <td><strong> Name:</strong></td>
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<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <title></title>
    <link rel="stylesheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EWOAC">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>Estimated Aggregate Annual Amortization expense for next five years and thereafter (Details) (USD $)<br></strong></div>
        </th>
        <th class="th">
          <div>Dec. 31, 2014</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_EstimatedAggregateAnnualAmortizationExpenseForNextFiveYearsAndThereafterAbstract', window );"><strong>Estimated Aggregate Annual Amortization expense for next five years and thereafter</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_AnnualAmortization2015', window );">Annual amortization 2015</a></td>
        <td class="nump"><a title="fil_AnnualAmortization2015" onclick="toggleNextSibling(this);">$ 321,753</a><span style="display:none;white-space:normal;text-align:left;">fil_AnnualAmortization2015</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_AnnualAmortization2016', window );">Annual amortization 2016</a></td>
        <td class="nump"><a title="fil_AnnualAmortization2016" onclick="toggleNextSibling(this);">300,191</a><span style="display:none;white-space:normal;text-align:left;">fil_AnnualAmortization2016</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_AnnualAmortization2017', window );">Annual amortization 2017</a></td>
        <td class="nump"><a title="fil_AnnualAmortization2017" onclick="toggleNextSibling(this);">258,094</a><span style="display:none;white-space:normal;text-align:left;">fil_AnnualAmortization2017</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_AnnualAmortization2018', window );">Annual amortization 2018</a></td>
        <td class="nump"><a title="fil_AnnualAmortization2018" onclick="toggleNextSibling(this);">137,930</a><span style="display:none;white-space:normal;text-align:left;">fil_AnnualAmortization2018</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_AnnualAmortization2019', window );">Annual amortization 2019</a></td>
        <td class="nump"><a title="fil_AnnualAmortization2019" onclick="toggleNextSibling(this);">64,755</a><span style="display:none;white-space:normal;text-align:left;">fil_AnnualAmortization2019</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_AnnualAmortizationThereafter', window );">Annual amortization Thereafter</a></td>
        <td class="nump"><a title="fil_AnnualAmortizationThereafter" onclick="toggleNextSibling(this);">234,498</a><span style="display:none;white-space:normal;text-align:left;">fil_AnnualAmortizationThereafter</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_AccumulatedAmortizationIntangibleAssetsCfdaApprovedMedicalFormulas', window );">Accumulated amortization Intangible assets CFDA Approved Medical Formulas</a></td>
        <td class="nump"><a title="fil_AccumulatedAmortizationIntangibleAssetsCfdaApprovedMedicalFormulas" onclick="toggleNextSibling(this);">1,317,221</a><span style="display:none;white-space:normal;text-align:left;">fil_AccumulatedAmortizationIntangibleAssetsCfdaApprovedMedicalFormulas</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_ImpairmentLossesRelatingToThoseIntangibleAssets', window );">Impairment losses relating to those intangible assets</a></td>
        <td class="nump"><a title="fil_ImpairmentLossesRelatingToThoseIntangibleAssets" onclick="toggleNextSibling(this);">0</a><span style="display:none;white-space:normal;text-align:left;">fil_ImpairmentLossesRelatingToThoseIntangibleAssets</span><span></span></td>
        <td class="nump"><a title="fil_ImpairmentLossesRelatingToThoseIntangibleAssets" onclick="toggleNextSibling(this);">0</a><span style="display:none;white-space:normal;text-align:left;">fil_ImpairmentLossesRelatingToThoseIntangibleAssets</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_AmortizationExpensesRelatingToIntangibleAsetsWas', window );">Amortization expenses relating to intangible asets was</a></td>
        <td class="nump"><a title="fil_AmortizationExpensesRelatingToIntangibleAsetsWas" onclick="toggleNextSibling(this);">$ 386,440</a><span style="display:none;white-space:normal;text-align:left;">fil_AmortizationExpensesRelatingToIntangibleAsetsWas</span><span></span></td>
        <td class="nump"><a title="fil_AmortizationExpensesRelatingToIntangibleAsetsWas" onclick="toggleNextSibling(this);">$ 766,318</a><span style="display:none;white-space:normal;text-align:left;">fil_AmortizationExpensesRelatingToIntangibleAsetsWas</span><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Accumulated amortization Intangible assets CFDA Approved Medical FormulasThe aggregate amount of recurring noncash expense charged against earnings in the period to allocate the cost of assets over their estimated remaining economic lives</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_AccumulatedAmortizationIntangibleAssetsCfdaApprovedMedicalFormulas</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
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                    <td>instant</td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>amortization expenses recognized during the period and allocated to the reportable segment that results from the write-down of indefinite-lived intangible assets after comparing the implied fair value of reporting unit indefinite-lived intangible assets with the carrying amount of that indefinite-lived intangible assets, which are assessed at least annually for impairment.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_AmortizationExpensesRelatingToIntangibleAsetsWas</td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate amount of recurring noncash expense charged against earnings in the period to allocate the cost of assets over their estimated remaining economic lives</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate amount of recurring noncash expense charged against earnings in the period to allocate the cost of assets over their estimated remaining economic lives</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
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                <p>The aggregate amount of recurring noncash expense charged against earnings in the period to allocate the cost of assets over their estimated remaining economic lives</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
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                <p>The aggregate amount of recurring noncash expense charged against earnings in the period to allocate the cost of assets over their estimated remaining economic lives</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                <p>Annual amortization 2019</p>
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                <p>No definition available.</p>
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                <p>The aggregate amount of recurring noncash expense charged against earnings in the period to allocate the cost of assets over their estimated remaining economic lives</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
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                <p>Impairment recognized during the period and allocated to the reportable segment that results from the write-down of indefinite-lived intangible assets after comparing the implied fair value of reporting unit indefinite-lived intangible assets with the carrying amount of that indefinite-lived intangible assets, which are assessed at least annually for impairment.</p>
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0ELE">
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          <div style="width: 200px;"><strong>FAIR VALUE MEASUREMENTS (Tables)<br></strong></div>
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        <th class="th" colspan="1">12 Months Ended</th>
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          <div>Dec. 31, 2014</div>
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        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_AssetsFairValuesTablETextBlock', window );">Assets Fair Value</a></td>
        <td class="text"><!--egx--><p style='margin:0cm 0cm 0pt'><font lang="EN-US">The Company held the following assets and liabilities recorded at fair value as of December 31, 2014 and 2013:</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p> <table border="0" cellspacing="0" cellpadding="0" width="100%" style='width:100%'> <tr> <td valign="bottom" width="40%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:40%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="13%" colspan="2" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="43%" colspan="10" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:43%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">Fair Value Measurements at</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="40%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:40%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="13%" colspan="2" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="43%" colspan="10" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:43%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">Reporting Date Using</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="40%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:40%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">Description</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="13%" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">December 31, 2014</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="13%" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">Level 1</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="13%" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">Level 2</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="13%" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">Level 3</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td></tr> <tr> <td valign="bottom" width="40%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:40%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Banker's acceptance notes</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="12%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:12%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">458,233</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="12%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:12%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">-</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="12%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:12%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">458,233</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="12%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:12%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">-</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="40%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:40%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Total</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="12%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">458,233</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="12%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">-</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="12%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">458,233</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="12%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">-</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="40%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:40%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="12%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="12%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="12%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="12%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="40%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:40%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="12%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="31%" colspan="10" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:31%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">Fair Value Measurements at</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="40%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:40%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="12%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="31%" colspan="10" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:31%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">Reporting Date Using</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="40%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:40%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">Description</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="13%" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">December 31, 2013</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="13%" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">Level 1</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="13%" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">Level 2</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="13%" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">Level 3</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td></tr> <tr> <td valign="bottom" width="40%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:40%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Banker's acceptance notes</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="12%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:12%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">336,003</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="12%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:12%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">-</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="12%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:12%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">336,003</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="12%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:12%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">-</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="40%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:40%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Total</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="12%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">336,003</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="12%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">-</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="12%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">336,003</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="12%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">-</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr></table> <p style='margin:0cm 0cm 0pt'>&nbsp;</p><span></span></td>
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EWAAC">
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          <div style="width: 200px;"><strong>INCOME TAXES (Tables)<br></strong></div>
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          <div>Dec. 31, 2014</div>
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        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_IncomeTaxesTableTextBlock', window );">Current Taxes</a></td>
        <td class="text"><!--egx--><p style='margin:0cm 0cm 0pt'><font lang="EN-US">Under the current tax law in the PRC, the Company is and will be subject to the following enterprise income tax rates:</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0" width="30%" style='width:30%'> <tr> <td valign="top" width="13%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="top" width="3%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:3%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="top" width="15%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:15%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">Enterprise Income </font></b></p></td></tr> <tr> <td valign="top" width="13%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">Year</font></b></p></td> <td valign="top" width="3%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:3%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="top" width="15%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:15%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">Tax Rate</font></b></p></td></tr> <tr> <td valign="top" width="13%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:13%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">2013</font></p></td> <td valign="top" width="3%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:3%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="top" width="15%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:15%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">15%</font></p></td></tr> <tr> <td valign="top" width="13%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:13%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">2014</font></p></td> <td valign="top" width="3%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:3%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="top" width="15%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:15%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">15%</font></p></td></tr> <tr> <td valign="top" width="13%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:13%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">2015</font></p></td> <td valign="top" width="3%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:3%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="top" width="15%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:15%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">15%</font></p></td></tr> <tr> <td valign="top" width="13%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:13%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">2016</font></p></td> <td valign="top" width="3%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:3%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="top" width="15%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:15%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">15%</font></p></td></tr> <tr> <td valign="top" width="13%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:13%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">2017</font></p></td> <td valign="top" width="3%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:3%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="top" width="15%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:15%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">25%</font></p></td></tr> <tr> <td valign="top" width="13%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:13%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">Thereafter</font></p></td> <td valign="top" width="3%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:3%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="top" width="15%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:15%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">25%</font></p></td></tr></table></div><span></span></td>
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        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_ProvisionForIncomeTaxesTableTextBlock', window );">Provision For Income Taxes</a></td>
        <td class="text"><!--egx--><p style='margin:0cm 0cm 0pt'><font lang="EN-US">The provision for income taxes consisted of the following:</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0" width="90%" style='width:90%'> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="22%" colspan="6" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:22%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">Year Ended December 31,</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="10%" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">2014</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="10%" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">2013</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Current</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">-</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">-</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Deferred</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">77,042</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">1,061,413</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">Total income tax expense (benefit)</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">77,042</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">1,061,413</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr></table></div> <p style='margin:0cm 0cm 0pt'>&nbsp;</p><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock', window );">Schedule of Income Tax Rate Reconciliation</a></td>
        <td class="text"><!--egx--><p style='margin:0cm 0cm 0pt'><font lang="EN-US">Following is a reconciliation of income taxes calculated at the federal statutory rates to the provision for income taxes:</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0" width="90%" style='width:90%'> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="22%" colspan="6" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:22%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">Years Ended December 31,</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="10%" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">2014</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="10%" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">2013</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">(Benefit) tax at statutory rate of 25%</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">(6,511,844</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">)</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">(4,736,660</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">)</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Stock based compensation from current and prior years</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">-</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">8,534</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Effect of tax holiday</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">2,563,701</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">1,834,517</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Other, primarily the difference in U.S. tax rates</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">7,815</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">-</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Change in valuation allowance</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">4,017,370</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">3,955,022</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">Income tax expense</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">77,042</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">1,061,413</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr></table></div><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock', window );">Schedule of Deferred Tax Assets and Liabilities</a></td>
        <td class="text"><!--egx--><p style='margin:0cm 0cm 0pt'><font lang="EN-US">The temporary differences which give rise to the deferred income tax assets and liability are as follows:</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0" width="90%" style='width:90%'> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="22%" colspan="6" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:22%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">December 31,</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="10%" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">2014</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="10%" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">2013</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">Deferred income tax assets:</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="10%" colspan="2" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="10%" colspan="2" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Allowance for doubtful trade receivables</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">5,002,516</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">1,995,243</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Allowance for doubtful other receivables</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">9,049</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">6,460</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Inventory obsolescence reserve</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">1,040,107</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">1,501,687</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Expenses not deductible in current year</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">31,000</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">31,143</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">PRC net operating loss carry forward</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">1,688,417</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">328,643</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">U.S. net operating loss carry forward</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">1,181,679</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">1,052,784</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Total deferred income tax assets</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">8,952,768</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">4,915,960</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Valuation allowance</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">(8,952,768</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">)</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">(4,915,960</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">)</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt 9pt'><font lang="EN-US">Net deferred income tax asset</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">-</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">-</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">Deferred income tax liability:</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Intangible assets</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">252,707</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">176,414</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr></table></div> <p style='margin:0cm 0cm 0pt'>&nbsp;</p><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_IncomeTaxesTablesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_IncomeTaxesTablesAbstract</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_IncomeTaxesTableTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tabluar disclosure of Provision For Income Taxes.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_IncomeTaxesTableTextBlock</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_ProvisionForIncomeTaxesTableTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tabluar disclosure of Provision For Income Taxes.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_ProvisionForIncomeTaxesTableTextBlock</td>
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                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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                    <td><strong> Period Type:</strong></td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock</td>
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                    <td>duration</td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock">
        <tr>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 12<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock</td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>39
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <title></title>
    <link rel="stylesheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EKHAC">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>2010 Stock Option Plan (Details) (USD $)<br></strong></div>
        </th>
        <th class="th">
          <div>Dec. 31, 2014</div>
        </th>
        <th class="th">
          <div>Nov. 12, 2010</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_STOCKHOLDERSEQUITY2010StockOptionPlanAbstract', window );"><strong>STOCKHOLDERS EQUITY 2010 Stock Option Plan</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_NumberOfCommonShares', window );">Number of common shares</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump"><a title="fil_NumberOfCommonShares" onclick="toggleNextSibling(this);">4,000,000</a><span style="display:none;white-space:normal;text-align:left;">fil_NumberOfCommonShares</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_NumberOfCommonSharesPurchasedByOptions', window );">Number of common shares purchased by options</a></td>
        <td class="nump"><a title="fil_NumberOfCommonSharesPurchasedByOptions" onclick="toggleNextSibling(this);">25,000</a><span style="display:none;white-space:normal;text-align:left;">fil_NumberOfCommonSharesPurchasedByOptions</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_StockOptionsGranted', window );">Stock options granted</a></td>
        <td class="nump"><a title="fil_StockOptionsGranted" onclick="toggleNextSibling(this);">100,000</a><span style="display:none;white-space:normal;text-align:left;">fil_StockOptionsGranted</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_ExercisePricePerShareExpiredUnexercised1', window );">Exercise price per share expired unexercised.</a></td>
        <td class="nump"><a title="fil_ExercisePricePerShareExpiredUnexercised1" onclick="toggleNextSibling(this);">$ 2.54</a><span style="display:none;white-space:normal;text-align:left;">fil_ExercisePricePerShareExpiredUnexercised1</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_SharesOfRestrictedStockGrantedAndOutstandingUnderThe2010IncentivePlan', window );">shares of restricted stock granted and outstanding under the 2010 Incentive Plan</a></td>
        <td class="nump"><a title="fil_SharesOfRestrictedStockGrantedAndOutstandingUnderThe2010IncentivePlan" onclick="toggleNextSibling(this);">175,000</a><span style="display:none;white-space:normal;text-align:left;">fil_SharesOfRestrictedStockGrantedAndOutstandingUnderThe2010IncentivePlan</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
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                <p>Exercise price per share expired unexercised.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The maximum number of common shares permitted to be issued by an entity's charter and bylaws.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                <p>Number of common shares purchased by options</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>shares of restricted stock granted and outstanding under the 2010 Incentive Plan</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Stock options granted</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
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                    <td>instant</td>
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<DOCUMENT>
<TYPE>XML
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<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <title></title>
    <link rel="stylesheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0E4G">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>ADVANCES FOR PURCHASES OF INTANGIBLE ASSETS (Details) (USD $)<br></strong></div>
        </th>
        <th class="th">
          <div>Dec. 31, 2014</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_AdvancesForPurchaseOfIntangibleAssetsDetailsAbstract', window );"><strong>Advances for purchase of intangible assets details</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_CompanyWasObligatedToPayLaboratories', window );">Company was obligated to pay laboratories</a></td>
        <td class="nump"><a title="fil_CompanyWasObligatedToPayLaboratories" onclick="toggleNextSibling(this);">$ 4,551,000</a><span style="display:none;white-space:normal;text-align:left;">fil_CompanyWasObligatedToPayLaboratories</span><span></span></td>
        <td class="nump"><a title="fil_CompanyWasObligatedToPayLaboratories" onclick="toggleNextSibling(this);">$ 5,466,000</a><span style="display:none;white-space:normal;text-align:left;">fil_CompanyWasObligatedToPayLaboratories</span><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>CompanyWasObligatedToPayLaboratories</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_CompanyWasObligatedToPayLaboratories</td>
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                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>41
<FILENAME>R30.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
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  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0ENH">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>BASIS OF PRESENTATION (Details)<br></strong></div>
        </th>
        <th class="th">
          <div>Dec. 31, 2014</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_OrganizationAndOperationsAbstract', window );"><strong>Organization and operations</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_PercentageOfShareOwnedByChinaPharmaHoldingsIncOfOnnyInvestmentLimited', window );">Percentage of share owned by China Pharma Holdings Inc of Onny Investment Limited</a></td>
        <td class="nump"><a title="fil_PercentageOfShareOwnedByChinaPharmaHoldingsIncOfOnnyInvestmentLimited" onclick="toggleNextSibling(this);">100.00%</a><span style="display:none;white-space:normal;text-align:left;">fil_PercentageOfShareOwnedByChinaPharmaHoldingsIncOfOnnyInvestmentLimited</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_PercentageOfShareOwnedByChinaPharmaHoldingsIncOfHelpsonMedicalAmpBiotechnologyCoLtd1', window );">Percentage of share owned by China Pharma Holdings Inc of Helpson Medical &amp; Biotechnology Co., Ltd.</a></td>
        <td class="nump"><a title="fil_PercentageOfShareOwnedByChinaPharmaHoldingsIncOfHelpsonMedicalAmpBiotechnologyCoLtd1" onclick="toggleNextSibling(this);">100.00%</a><span style="display:none;white-space:normal;text-align:left;">fil_PercentageOfShareOwnedByChinaPharmaHoldingsIncOfHelpsonMedicalAmpBiotechnologyCoLtd1</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_PercetageOfAcquiredByOnnyInHelpson', window );">Percetage of acquired by Onny in Helpson</a></td>
        <td class="nump"><a title="fil_PercetageOfAcquiredByOnnyInHelpson" onclick="toggleNextSibling(this);">100.00%</a><span style="display:none;white-space:normal;text-align:left;">fil_PercetageOfAcquiredByOnnyInHelpson</span><span></span></td>
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    </table>
    <div style="display: none;">
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_OrganizationAndOperationsAbstract</td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>PercentageOfShareOwnedByChinaPharmaHoldingsIncOfHelpsonMedicalAmpBiotechnologyCoLtd1</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_PercentageOfShareOwnedByChinaPharmaHoldingsIncOfHelpsonMedicalAmpBiotechnologyCoLtd1</td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Percentage of share owned by China Pharma Holdings Inc of Onny Investment Limited</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
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                    <td style="white-space:nowrap;">fil_PercentageOfShareOwnedByChinaPharmaHoldingsIncOfOnnyInvestmentLimited</td>
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                    <td>fil_</td>
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                    <td><strong> Period Type:</strong></td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Percetage of acquired by Onny in Helpson</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_PercetageOfAcquiredByOnnyInHelpson</td>
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                    <td>fil_</td>
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                    <td>num:percentItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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        </tr>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>42
<FILENAME>R31.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <title></title>
    <link rel="stylesheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EWIAC">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>BASIS OF PRESENTATION Basic and Diluted Earnings per Common Share (Details) (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="2">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2014</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_BASISOFPRESENTATIONBasicAndDilutedEarningsPerCommonShareDetailsAbstract', window );"><strong>BASIS OF PRESENTATION Basic and Diluted Earnings per Common Share</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net loss</a></td>
        <td class="num"><a title="us-gaap_ProfitLoss" onclick="toggleNextSibling(this);">$ (26,047,375)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ProfitLoss</span><span></span></td>
        <td class="num"><a title="us-gaap_ProfitLoss" onclick="toggleNextSibling(this);">$ (20,008,049)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ProfitLoss</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_Basicweightedaveragecommonsharesoutstanding1', window );">Basic weighted-average common shares outstanding</a></td>
        <td class="nump"><a title="fil_Basicweightedaveragecommonsharesoutstanding1" onclick="toggleNextSibling(this);">43,579,557</a><span style="display:none;white-space:normal;text-align:left;">fil_Basicweightedaveragecommonsharesoutstanding1</span><span></span></td>
        <td class="nump"><a title="fil_Basicweightedaveragecommonsharesoutstanding1" onclick="toggleNextSibling(this);">43,579,557</a><span style="display:none;white-space:normal;text-align:left;">fil_Basicweightedaveragecommonsharesoutstanding1</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_Dilutedweightedaveragecommonsharesoutstanding2', window );">Diluted weighted-average common shares outstanding</a></td>
        <td class="nump"><a title="fil_Dilutedweightedaveragecommonsharesoutstanding2" onclick="toggleNextSibling(this);">43,579,557</a><span style="display:none;white-space:normal;text-align:left;">fil_Dilutedweightedaveragecommonsharesoutstanding2</span><span></span></td>
        <td class="nump"><a title="fil_Dilutedweightedaveragecommonsharesoutstanding2" onclick="toggleNextSibling(this);">43,579,557</a><span style="display:none;white-space:normal;text-align:left;">fil_Dilutedweightedaveragecommonsharesoutstanding2</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_BasicLossEarningsPerShare', window );">Basic loss per share</a></td>
        <td class="num"><a title="fil_BasicLossEarningsPerShare" onclick="toggleNextSibling(this);">$ (0.60)</a><span style="display:none;white-space:normal;text-align:left;">fil_BasicLossEarningsPerShare</span><span></span></td>
        <td class="num"><a title="fil_BasicLossEarningsPerShare" onclick="toggleNextSibling(this);">$ (0.46)</a><span style="display:none;white-space:normal;text-align:left;">fil_BasicLossEarningsPerShare</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_DilutedLossEarningsPerShare', window );">Diluted loss per share</a></td>
        <td class="num"><a title="fil_DilutedLossEarningsPerShare" onclick="toggleNextSibling(this);">$ (0.60)</a><span style="display:none;white-space:normal;text-align:left;">fil_DilutedLossEarningsPerShare</span><span></span></td>
        <td class="num"><a title="fil_DilutedLossEarningsPerShare" onclick="toggleNextSibling(this);">$ (0.46)</a><span style="display:none;white-space:normal;text-align:left;">fil_DilutedLossEarningsPerShare</span><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_BasicLossEarningsPerShare</td>
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                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>BasicWeightedAverageCommonSharesOutstanding1</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_Basicweightedaveragecommonsharesoutstanding1</td>
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                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_BASISOFPRESENTATIONBasicAndDilutedEarningsPerCommonShareDetailsAbstract">
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_BASISOFPRESENTATIONBasicAndDilutedEarningsPerCommonShareDetailsAbstract</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_DilutedLossEarningsPerShare">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_DilutedLossEarningsPerShare</td>
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                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_Dilutedweightedaveragecommonsharesoutstanding2">
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>DilutedWeightedAverageCommonSharesOutstanding2</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_Dilutedweightedaveragecommonsharesoutstanding2</td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4K<br><br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4591552-111686<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 19<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4569616-111683<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1A<br><br> -Subparagraph (a),(c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=SL4573702-111684<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4J<br><br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4591551-111686<br><br><br><br></p>
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EME">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>LOSSES FROM NATURAL DISASTER<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2014</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_LossesFromNaturalDisasterAbstract', window );"><strong>LOSSES FROM NATURAL DISASTER</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_idr_DisclosureLOSSESFROMNATURALDISASTER', window );">LOSSES FROM NATURAL DISASTER</a></td>
        <td class="text"><!--egx--><p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">NOTE 2 &#150; LOSSES FROM NATURAL DISASTER</font></b></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">On July 18, 2014, the Company&#146;s manufacturing facilities and inventory sustained storm damage from a powerful tropical typhoon that hit Haikou on that date. <font style='background:white'>The losses are comprised of $2,016,068 of inventory related costs and $260,451 of facilities damage costs.&nbsp;&nbsp;The Company received minor insurance compensation as only the building of new plant was insured and the damage to it was minor.</font></font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;The Company assessed whether any asset impairment had occurred as a result of the storm and decided no impairment necessary. In addition, the Company assessed whether the damage caused by the tropical typhoon exposed the Company to environmental remediation liability. Based on the assessment, the Company determined that no such exposure had occurred.</font></p><span></span></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>No authoritative reference available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0E6OAC">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>BASIS OF PRESENTATION POLICIES Parentheticals (Details) (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="2">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2014</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_ParentheticalsTradeReceivablesAbstract', window );"><strong>Parentheticals - Trade Receivables</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
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        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_AccountsReceivableFromSales', window );">Accounts Receivable from sales</a></td>
        <td class="nump"><a title="fil_AccountsReceivableFromSales" onclick="toggleNextSibling(this);">$ 48,569,986</a><span style="display:none;white-space:normal;text-align:left;">fil_AccountsReceivableFromSales</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_ManagementNegotiatedSettlementOffersWithCertainCustomersInAccountsReceivableBalancesThatWereGreaterThanOne1YearPastDue', window );">Management negotiated settlement offers with certain customers in accounts receivable balances that were greater than one (1) year past due.</a></td>
        <td class="nump"><a title="fil_ManagementNegotiatedSettlementOffersWithCertainCustomersInAccountsReceivableBalancesThatWereGreaterThanOne1YearPastDue" onclick="toggleNextSibling(this);">8,000,000</a><span style="display:none;white-space:normal;text-align:left;">fil_ManagementNegotiatedSettlementOffersWithCertainCustomersInAccountsReceivableBalancesThatWereGreaterThanOne1YearPastDue</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_AmountCollectedInCash', window );">Amount collected in cash</a></td>
        <td class="nump"><a title="fil_AmountCollectedInCash" onclick="toggleNextSibling(this);">5,850,000</a><span style="display:none;white-space:normal;text-align:left;">fil_AmountCollectedInCash</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_RecognizedAdditionalBadDebtExpenseForTheNegotiatedDiscountsInTheAmountOf', window );">Recognized additional bad debt expense for the negotiated discounts in the amount of</a></td>
        <td class="nump"><a title="fil_RecognizedAdditionalBadDebtExpenseForTheNegotiatedDiscountsInTheAmountOf" onclick="toggleNextSibling(this);">530,000</a><span style="display:none;white-space:normal;text-align:left;">fil_RecognizedAdditionalBadDebtExpenseForTheNegotiatedDiscountsInTheAmountOf</span><span></span></td>
        <td class="nump"><a title="fil_RecognizedAdditionalBadDebtExpenseForTheNegotiatedDiscountsInTheAmountOf" onclick="toggleNextSibling(this);">2,100,000</a><span style="display:none;white-space:normal;text-align:left;">fil_RecognizedAdditionalBadDebtExpenseForTheNegotiatedDiscountsInTheAmountOf</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_ChargesToInventoryObsolescenceExpenseTotalledTo', window );">Charges to inventory obsolescence expense totalled to</a></td>
        <td class="nump"><a title="fil_ChargesToInventoryObsolescenceExpenseTotalledTo" onclick="toggleNextSibling(this);">2,250,130</a><span style="display:none;white-space:normal;text-align:left;">fil_ChargesToInventoryObsolescenceExpenseTotalledTo</span><span></span></td>
        <td class="nump"><a title="fil_ChargesToInventoryObsolescenceExpenseTotalledTo" onclick="toggleNextSibling(this);">9,881,711</a><span style="display:none;white-space:normal;text-align:left;">fil_ChargesToInventoryObsolescenceExpenseTotalledTo</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_RecognizedInventoryObsolescenceReserveOf', window );">Recognized inventory obsolescence reserve of</a></td>
        <td class="num"><a title="fil_RecognizedInventoryObsolescenceReserveOf" onclick="toggleNextSibling(this);">(1,093,082)</a><span style="display:none;white-space:normal;text-align:left;">fil_RecognizedInventoryObsolescenceReserveOf</span><span></span></td>
        <td class="nump"><a title="fil_RecognizedInventoryObsolescenceReserveOf" onclick="toggleNextSibling(this);">6,257,142</a><span style="display:none;white-space:normal;text-align:left;">fil_RecognizedInventoryObsolescenceReserveOf</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_RecognizedImpairmentLossOnIntangibleAssets', window );">Recognized impairment loss on intangible assets</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump"><a title="fil_RecognizedImpairmentLossOnIntangibleAssets" onclick="toggleNextSibling(this);">593,095</a><span style="display:none;white-space:normal;text-align:left;">fil_RecognizedImpairmentLossOnIntangibleAssets</span><span></span></td>
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      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_ResearchAndDevelopmentExpenses', window );">Research and development expenses</a></td>
        <td class="nump"><a title="fil_ResearchAndDevelopmentExpenses" onclick="toggleNextSibling(this);">2,798,557</a><span style="display:none;white-space:normal;text-align:left;">fil_ResearchAndDevelopmentExpenses</span><span></span></td>
        <td class="nump"><a title="fil_ResearchAndDevelopmentExpenses" onclick="toggleNextSibling(this);">1,683,244</a><span style="display:none;white-space:normal;text-align:left;">fil_ResearchAndDevelopmentExpenses</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_AmountContributedToRetirementBenefitPlansForThePeriod', window );">Amount contributed to retirement benefit plans for the period</a></td>
        <td class="nump"><a title="fil_AmountContributedToRetirementBenefitPlansForThePeriod" onclick="toggleNextSibling(this);">$ 249,921</a><span style="display:none;white-space:normal;text-align:left;">fil_AmountContributedToRetirementBenefitPlansForThePeriod</span><span></span></td>
        <td class="nump"><a title="fil_AmountContributedToRetirementBenefitPlansForThePeriod" onclick="toggleNextSibling(this);">$ 241,384</a><span style="display:none;white-space:normal;text-align:left;">fil_AmountContributedToRetirementBenefitPlansForThePeriod</span><span></span></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Accounts Receivable from sales</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount collected in cash out of the Management negotiated settlement offers with certain customers in accounts receivable balances that were greater than one (1) year past due.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount contributed to retirement benefit plans for the period</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Charges to inventory obsolescence expense totalled to</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
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                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_ManagementNegotiatedSettlementOffersWithCertainCustomersInAccountsReceivableBalancesThatWereGreaterThanOne1YearPastDue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Management negotiated settlement offers with certain customers in accounts receivable balances that were greater than one (1) year past due.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_ManagementNegotiatedSettlementOffersWithCertainCustomersInAccountsReceivableBalancesThatWereGreaterThanOne1YearPastDue</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_ParentheticalsTradeReceivablesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_ParentheticalsTradeReceivablesAbstract</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_RecognizedAdditionalBadDebtExpenseForTheNegotiatedDiscountsInTheAmountOf">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Recognized additional bad debt expense for the negotiated discounts in the amount of</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_RecognizedAdditionalBadDebtExpenseForTheNegotiatedDiscountsInTheAmountOf</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_RecognizedImpairmentLossOnIntangibleAssets">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Recognized impairment loss on intangible assets</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_RecognizedImpairmentLossOnIntangibleAssets</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_RecognizedInventoryObsolescenceReserveOf">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Recognized inventory obsolescence reserve of</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_RecognizedInventoryObsolescenceReserveOf</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_ResearchAndDevelopmentExpenses">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Research and development expense during the period related to the costs of developing and achieving technological feasibility of a computer software product to be sold, leased, or otherwise marketed.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_ResearchAndDevelopmentExpenses</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>45
<FILENAME>R40.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <title></title>
    <link rel="stylesheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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							} else {
							e.nextSibling.style.display='none';
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							}</script></head>
  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EEDAC">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Reconciliation of Total Interest incurred cost (Details) (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="2">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2014</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_ReconcialitionOfTotalInterestDetailsAbstract', window );"><strong>Reconcialition of Total interest details</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_TotalInterestCostIncurred', window );">Total interest cost incurred</a></td>
        <td class="nump"><a title="fil_TotalInterestCostIncurred" onclick="toggleNextSibling(this);">$ 1,244,346</a><span style="display:none;white-space:normal;text-align:left;">fil_TotalInterestCostIncurred</span><span></span></td>
        <td class="nump"><a title="fil_TotalInterestCostIncurred" onclick="toggleNextSibling(this);">$ 583,400</a><span style="display:none;white-space:normal;text-align:left;">fil_TotalInterestCostIncurred</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_Interestcostcapitalized1', window );">Interest cost capitalized</a></td>
        <td class="nump"><a title="fil_Interestcostcapitalized1" onclick="toggleNextSibling(this);">458,542</a><span style="display:none;white-space:normal;text-align:left;">fil_Interestcostcapitalized1</span><span></span></td>
        <td class="nump"><a title="fil_Interestcostcapitalized1" onclick="toggleNextSibling(this);">234,704</a><span style="display:none;white-space:normal;text-align:left;">fil_Interestcostcapitalized1</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_InterestExpense1', window );">Interest expense,</a></td>
        <td class="nump"><a title="fil_InterestExpense1" onclick="toggleNextSibling(this);">$ 785,804</a><span style="display:none;white-space:normal;text-align:left;">fil_InterestExpense1</span><span></span></td>
        <td class="nump"><a title="fil_InterestExpense1" onclick="toggleNextSibling(this);">$ 348,696</a><span style="display:none;white-space:normal;text-align:left;">fil_InterestExpense1</span><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_Interestcostcapitalized1">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>InterestCostCapitalized1</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_Interestcostcapitalized1</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_InterestExpense1">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cost of borrowed funds accounted for as interest that was charged against earnings during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_InterestExpense1</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_ReconcialitionOfTotalInterestDetailsAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_ReconcialitionOfTotalInterestDetailsAbstract</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_TotalInterestCostIncurred">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>TotalInterestCostIncurred</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_TotalInterestCostIncurred</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>46
<FILENAME>R53.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <title></title>
    <link rel="stylesheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else {
							e.nextSibling.style.display='none';
							}
							}</script></head>
  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0E6AAE">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Changes of deferred income tax assets and liability (Details) (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="2">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2014</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_ChangesOfDeferredIncomeTaxAssetsAndLiabilityAbstract', window );"><strong>Changes of deferred income tax assets and liability</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_AllowanceForDoubtfulTradeReceivablesDeferredTax', window );">Allowance for doubtful trade receivables deferred tax</a></td>
        <td class="nump"><a title="fil_AllowanceForDoubtfulTradeReceivablesDeferredTax" onclick="toggleNextSibling(this);">$ 5,002,516</a><span style="display:none;white-space:normal;text-align:left;">fil_AllowanceForDoubtfulTradeReceivablesDeferredTax</span><span></span></td>
        <td class="nump"><a title="fil_AllowanceForDoubtfulTradeReceivablesDeferredTax" onclick="toggleNextSibling(this);">$ 1,995,243</a><span style="display:none;white-space:normal;text-align:left;">fil_AllowanceForDoubtfulTradeReceivablesDeferredTax</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_AllowanceForDoubtfulOtherReceivablesDeferredTax', window );">Allowance for doubtful other receivables deferred tax</a></td>
        <td class="nump"><a title="fil_AllowanceForDoubtfulOtherReceivablesDeferredTax" onclick="toggleNextSibling(this);">9,049</a><span style="display:none;white-space:normal;text-align:left;">fil_AllowanceForDoubtfulOtherReceivablesDeferredTax</span><span></span></td>
        <td class="nump"><a title="fil_AllowanceForDoubtfulOtherReceivablesDeferredTax" onclick="toggleNextSibling(this);">6,460</a><span style="display:none;white-space:normal;text-align:left;">fil_AllowanceForDoubtfulOtherReceivablesDeferredTax</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_Inventoryobsolescencereserve11', window );">Inventory obsolescence reserve</a></td>
        <td class="nump"><a title="fil_Inventoryobsolescencereserve11" onclick="toggleNextSibling(this);">1,040,107</a><span style="display:none;white-space:normal;text-align:left;">fil_Inventoryobsolescencereserve11</span><span></span></td>
        <td class="nump"><a title="fil_Inventoryobsolescencereserve11" onclick="toggleNextSibling(this);">1,501,687</a><span style="display:none;white-space:normal;text-align:left;">fil_Inventoryobsolescencereserve11</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_ExpensesNotDeductibleInCurrentYear', window );">Expenses not deductible in current year</a></td>
        <td class="nump"><a title="fil_ExpensesNotDeductibleInCurrentYear" onclick="toggleNextSibling(this);">31,000</a><span style="display:none;white-space:normal;text-align:left;">fil_ExpensesNotDeductibleInCurrentYear</span><span></span></td>
        <td class="nump"><a title="fil_ExpensesNotDeductibleInCurrentYear" onclick="toggleNextSibling(this);">31,143</a><span style="display:none;white-space:normal;text-align:left;">fil_ExpensesNotDeductibleInCurrentYear</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_PrcNetOperatingLossCarryForward', window );">PRC Net operating loss carry forward</a></td>
        <td class="nump"><a title="fil_PrcNetOperatingLossCarryForward" onclick="toggleNextSibling(this);">1,688,417</a><span style="display:none;white-space:normal;text-align:left;">fil_PrcNetOperatingLossCarryForward</span><span></span></td>
        <td class="nump"><a title="fil_PrcNetOperatingLossCarryForward" onclick="toggleNextSibling(this);">328,643</a><span style="display:none;white-space:normal;text-align:left;">fil_PrcNetOperatingLossCarryForward</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_USNetOperatingLossCarryForwards', window );">U.S. net operating loss carry forwards</a></td>
        <td class="nump"><a title="fil_USNetOperatingLossCarryForwards" onclick="toggleNextSibling(this);">1,181,679</a><span style="display:none;white-space:normal;text-align:left;">fil_USNetOperatingLossCarryForwards</span><span></span></td>
        <td class="nump"><a title="fil_USNetOperatingLossCarryForwards" onclick="toggleNextSibling(this);">1,052,784</a><span style="display:none;white-space:normal;text-align:left;">fil_USNetOperatingLossCarryForwards</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_TotalDeferredIncomeTaxAssets', window );">Total deferred income tax assets</a></td>
        <td class="nump"><a title="fil_TotalDeferredIncomeTaxAssets" onclick="toggleNextSibling(this);">8,952,768</a><span style="display:none;white-space:normal;text-align:left;">fil_TotalDeferredIncomeTaxAssets</span><span></span></td>
        <td class="nump"><a title="fil_TotalDeferredIncomeTaxAssets" onclick="toggleNextSibling(this);">4,915,960</a><span style="display:none;white-space:normal;text-align:left;">fil_TotalDeferredIncomeTaxAssets</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_ValuationAllowance', window );">Valuation allowance,</a></td>
        <td class="num"><a title="fil_ValuationAllowance" onclick="toggleNextSibling(this);">(8,952,768)</a><span style="display:none;white-space:normal;text-align:left;">fil_ValuationAllowance</span><span></span></td>
        <td class="num"><a title="fil_ValuationAllowance" onclick="toggleNextSibling(this);">(4,915,960)</a><span style="display:none;white-space:normal;text-align:left;">fil_ValuationAllowance</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_NetDeferredIncomeTaxAsset', window );">Net deferred income tax asset.</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump"><a title="fil_NetDeferredIncomeTaxAsset" onclick="toggleNextSibling(this);">0</a><span style="display:none;white-space:normal;text-align:left;">fil_NetDeferredIncomeTaxAsset</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_IntangibleAssetsIncomeTaxLiability', window );">Intangible assets income tax liability</a></td>
        <td class="nump"><a title="fil_IntangibleAssetsIncomeTaxLiability" onclick="toggleNextSibling(this);">$ 252,707</a><span style="display:none;white-space:normal;text-align:left;">fil_IntangibleAssetsIncomeTaxLiability</span><span></span></td>
        <td class="nump"><a title="fil_IntangibleAssetsIncomeTaxLiability" onclick="toggleNextSibling(this);">$ 176,414</a><span style="display:none;white-space:normal;text-align:left;">fil_IntangibleAssetsIncomeTaxLiability</span><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_AllowanceForDoubtfulOtherReceivablesDeferredTax">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Allowance for doubtful other receivables deferred tax</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_AllowanceForDoubtfulOtherReceivablesDeferredTax</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_AllowanceForDoubtfulTradeReceivablesDeferredTax">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Allowance for doubtful trade receivables deferred tax</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_AllowanceForDoubtfulTradeReceivablesDeferredTax</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_ChangesOfDeferredIncomeTaxAssetsAndLiabilityAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_ChangesOfDeferredIncomeTaxAssetsAndLiabilityAbstract</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_ExpensesNotDeductibleInCurrentYear">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Expenses not deductible in current year</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_ExpensesNotDeductibleInCurrentYear</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_IntangibleAssetsIncomeTaxLiability">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Intangible assets income tax liability</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_IntangibleAssetsIncomeTaxLiability</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_Inventoryobsolescencereserve11">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Inventoryobsolescencereserve11</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_Inventoryobsolescencereserve11</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_NetDeferredIncomeTaxAsset">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of deferred tax assets net of valuation allowance current and noncurrent deferred tax liabilities.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_NetDeferredIncomeTaxAsset</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_PrcNetOperatingLossCarryForward">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>PRC Net operating loss carry forward</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_PrcNetOperatingLossCarryForward</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_TotalDeferredIncomeTaxAssets">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from deferred income.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_TotalDeferredIncomeTaxAssets</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_USNetOperatingLossCarryForwards">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>US Net operating loss carry forward</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_USNetOperatingLossCarryForwards</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_ValuationAllowance">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of the valuation allowance recorded as of the balance sheet date pertaining to the specified deferred tax asset for which an assessment was made that it is more likely than not that all or a portion of such deferred tax asset will not be realized through related deductions on future tax returns.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_ValuationAllowance</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EAOAG">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>CONSOLIDATED BALANCE SHEETS (USD $)<br></strong></div>
        </th>
        <th class="th">
          <div>Dec. 31, 2014</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrentAbstract', window );"><strong>Current Assets:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Cash', window );">Cash and cash equivalents</a></td>
        <td class="nump"><a title="us-gaap_Cash" onclick="toggleNextSibling(this);">$ 5,295,790</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_Cash</span><span></span></td>
        <td class="nump"><a title="us-gaap_Cash" onclick="toggleNextSibling(this);">$ 5,993,139</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_Cash</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashEquivalentsAtCarryingValue', window );">Banker's acceptances</a></td>
        <td class="nump"><a title="us-gaap_CashEquivalentsAtCarryingValue" onclick="toggleNextSibling(this);">458,233</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_CashEquivalentsAtCarryingValue</span><span></span></td>
        <td class="nump"><a title="us-gaap_CashEquivalentsAtCarryingValue" onclick="toggleNextSibling(this);">336,003</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_CashEquivalentsAtCarryingValue</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsReceivableNetCurrent', window );">Trade accounts receivable, less allowance for doubtful accounts of $33,350,109 and $13,301,622, respectively</a></td>
        <td class="nump"><a title="us-gaap_AccountsReceivableNetCurrent" onclick="toggleNextSibling(this);">24,851,086</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_AccountsReceivableNetCurrent</span><span></span></td>
        <td class="nump"><a title="us-gaap_AccountsReceivableNetCurrent" onclick="toggleNextSibling(this);">45,147,602</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_AccountsReceivableNetCurrent</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherReceivablesNetCurrent', window );">Other receivables, less allowance for doubtful accounts of $60,325 and $43,064, respectively</a></td>
        <td class="nump"><a title="us-gaap_OtherReceivablesNetCurrent" onclick="toggleNextSibling(this);">272,199</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_OtherReceivablesNetCurrent</span><span></span></td>
        <td class="nump"><a title="us-gaap_OtherReceivablesNetCurrent" onclick="toggleNextSibling(this);">175,739</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_OtherReceivablesNetCurrent</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_AdvancesToSuppliers', window );">Advances to suppliers</a></td>
        <td class="nump"><a title="fil_AdvancesToSuppliers" onclick="toggleNextSibling(this);">7,889,009</a><span style="display:none;white-space:normal;text-align:left;">fil_AdvancesToSuppliers</span><span></span></td>
        <td class="nump"><a title="fil_AdvancesToSuppliers" onclick="toggleNextSibling(this);">7,626,716</a><span style="display:none;white-space:normal;text-align:left;">fil_AdvancesToSuppliers</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryNet', window );">Inventory, less allowance for obsolescence of $6,934,044 and $8,027,126, respectively</a></td>
        <td class="nump"><a title="us-gaap_InventoryNet" onclick="toggleNextSibling(this);">15,321,856</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_InventoryNet</span><span></span></td>
        <td class="nump"><a title="us-gaap_InventoryNet" onclick="toggleNextSibling(this);">24,677,120</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_InventoryNet</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PrepaidExpenseCurrentAndNoncurrent', window );">Prepaid expenses</a></td>
        <td class="nump"><a title="us-gaap_PrepaidExpenseCurrentAndNoncurrent" onclick="toggleNextSibling(this);">404,370</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_PrepaidExpenseCurrentAndNoncurrent</span><span></span></td>
        <td class="nump"><a title="us-gaap_PrepaidExpenseCurrentAndNoncurrent" onclick="toggleNextSibling(this);">0</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_PrepaidExpenseCurrentAndNoncurrent</span><span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrent', window );">Total Current Assets</a></td>
        <td class="nump"><a title="us-gaap_AssetsCurrent" onclick="toggleNextSibling(this);">54,492,543</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_AssetsCurrent</span><span></span></td>
        <td class="nump"><a title="us-gaap_AssetsCurrent" onclick="toggleNextSibling(this);">83,956,319</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_AssetsCurrent</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_AdvancesForPurchasesOfIntangibleAssets', window );">Advances for purchases of intangible assets</a></td>
        <td class="nump"><a title="fil_AdvancesForPurchasesOfIntangibleAssets" onclick="toggleNextSibling(this);">42,390,186</a><span style="display:none;white-space:normal;text-align:left;">fil_AdvancesForPurchasesOfIntangibleAssets</span><span></span></td>
        <td class="nump"><a title="fil_AdvancesForPurchasesOfIntangibleAssets" onclick="toggleNextSibling(this);">41,701,505</a><span style="display:none;white-space:normal;text-align:left;">fil_AdvancesForPurchasesOfIntangibleAssets</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Property and equipment, net of accumulated depreciation of $6,640,718 and $5,264,350, respectively</a></td>
        <td class="nump"><a title="us-gaap_PropertyPlantAndEquipmentNet" onclick="toggleNextSibling(this);">33,881,878</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_PropertyPlantAndEquipmentNet</span><span></span></td>
        <td class="nump"><a title="us-gaap_PropertyPlantAndEquipmentNet" onclick="toggleNextSibling(this);">30,241,337</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_PropertyPlantAndEquipmentNet</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IntangibleAssetsNetExcludingGoodwill', window );">Intangible assets, net of accumulated amortization of $4,186,273 and $3,812,992, respectively</a></td>
        <td class="nump"><a title="us-gaap_IntangibleAssetsNetExcludingGoodwill" onclick="toggleNextSibling(this);">1,317,221</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_IntangibleAssetsNetExcludingGoodwill</span><span></span></td>
        <td class="nump"><a title="us-gaap_IntangibleAssetsNetExcludingGoodwill" onclick="toggleNextSibling(this);">1,711,793</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_IntangibleAssetsNetExcludingGoodwill</span><span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">TOTAL ASSETS</a></td>
        <td class="nump"><a title="us-gaap_Assets" onclick="toggleNextSibling(this);">132,081,828</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_Assets</span><span></span></td>
        <td class="nump"><a title="us-gaap_Assets" onclick="toggleNextSibling(this);">157,610,954</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_Assets</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrentAbstract', window );"><strong>Current Liabilities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableTradeCurrent', window );">Trade accounts payable</a></td>
        <td class="nump"><a title="us-gaap_AccountsPayableTradeCurrent" onclick="toggleNextSibling(this);">2,550,816</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_AccountsPayableTradeCurrent</span><span></span></td>
        <td class="nump"><a title="us-gaap_AccountsPayableTradeCurrent" onclick="toggleNextSibling(this);">1,877,437</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_AccountsPayableTradeCurrent</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccruedLiabilitiesCurrent', window );">Accrued expenses</a></td>
        <td class="nump"><a title="us-gaap_AccruedLiabilitiesCurrent" onclick="toggleNextSibling(this);">269,870</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_AccruedLiabilitiesCurrent</span><span></span></td>
        <td class="nump"><a title="us-gaap_AccruedLiabilitiesCurrent" onclick="toggleNextSibling(this);">323,651</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_AccruedLiabilitiesCurrent</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableOtherCurrent', window );">Other payables</a></td>
        <td class="nump"><a title="us-gaap_AccountsPayableOtherCurrent" onclick="toggleNextSibling(this);">1,401,470</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_AccountsPayableOtherCurrent</span><span></span></td>
        <td class="nump"><a title="us-gaap_AccountsPayableOtherCurrent" onclick="toggleNextSibling(this);">1,312,361</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_AccountsPayableOtherCurrent</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CustomerAdvancesCurrent', window );">Advances from customers</a></td>
        <td class="nump"><a title="us-gaap_CustomerAdvancesCurrent" onclick="toggleNextSibling(this);">2,078,866</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_CustomerAdvancesCurrent</span><span></span></td>
        <td class="nump"><a title="us-gaap_CustomerAdvancesCurrent" onclick="toggleNextSibling(this);">2,228,238</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_CustomerAdvancesCurrent</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueToRelatedPartiesCurrent', window );">Other payables - related parties</a></td>
        <td class="nump"><a title="us-gaap_DueToRelatedPartiesCurrent" onclick="toggleNextSibling(this);">1,354,567</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_DueToRelatedPartiesCurrent</span><span></span></td>
        <td class="nump"><a title="us-gaap_DueToRelatedPartiesCurrent" onclick="toggleNextSibling(this);">1,354,567</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_DueToRelatedPartiesCurrent</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongtermConstructionLoanCurrentAndNoncurrent', window );">Current portion of construction loan facility</a></td>
        <td class="nump"><a title="us-gaap_LongtermConstructionLoanCurrentAndNoncurrent" onclick="toggleNextSibling(this);">1,629,062</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_LongtermConstructionLoanCurrentAndNoncurrent</span><span></span></td>
        <td class="nump"><a title="us-gaap_LongtermConstructionLoanCurrentAndNoncurrent" onclick="toggleNextSibling(this);">0</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_LongtermConstructionLoanCurrentAndNoncurrent</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayableCurrent', window );">Short-term notes payable</a></td>
        <td class="nump"><a title="us-gaap_NotesPayableCurrent" onclick="toggleNextSibling(this);">4,887,187</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_NotesPayableCurrent</span><span></span></td>
        <td class="nump"><a title="us-gaap_NotesPayableCurrent" onclick="toggleNextSibling(this);">4,909,662</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_NotesPayableCurrent</span><span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrent', window );">Total Current Liabilities</a></td>
        <td class="nump"><a title="us-gaap_LiabilitiesCurrent" onclick="toggleNextSibling(this);">14,171,838</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_LiabilitiesCurrent</span><span></span></td>
        <td class="nump"><a title="us-gaap_LiabilitiesCurrent" onclick="toggleNextSibling(this);">12,005,916</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_LiabilitiesCurrent</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesNoncurrentAbstract', window );"><strong>Non-current Liabilities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermConstructionLoanCurrent', window );">Construction loan facility</a></td>
        <td class="nump"><a title="us-gaap_LongTermConstructionLoanCurrent" onclick="toggleNextSibling(this);">11,403,438</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_LongTermConstructionLoanCurrent</span><span></span></td>
        <td class="nump"><a title="us-gaap_LongTermConstructionLoanCurrent" onclick="toggleNextSibling(this);">12,484,183</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_LongTermConstructionLoanCurrent</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxLiabilitiesNoncurrent', window );">Long-term deferred tax liability</a></td>
        <td class="nump"><a title="us-gaap_DeferredTaxLiabilitiesNoncurrent" onclick="toggleNextSibling(this);">252,707</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_DeferredTaxLiabilitiesNoncurrent</span><span></span></td>
        <td class="nump"><a title="us-gaap_DeferredTaxLiabilitiesNoncurrent" onclick="toggleNextSibling(this);">176,414</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_DeferredTaxLiabilitiesNoncurrent</span><span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Liabilities', window );">Total Liabilities</a></td>
        <td class="nump"><a title="us-gaap_Liabilities" onclick="toggleNextSibling(this);">25,827,983</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_Liabilities</span><span></span></td>
        <td class="nump"><a title="us-gaap_Liabilities" onclick="toggleNextSibling(this);">24,666,513</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_Liabilities</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityAbstract', window );"><strong>Stockholders' Equity:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockValue', window );">Preferred stock, $0.001 par value; 5,000,000 shares authorized; no shares issued or outstanding</a></td>
        <td class="nump"><a title="us-gaap_PreferredStockValue" onclick="toggleNextSibling(this);">0</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_PreferredStockValue</span><span></span></td>
        <td class="nump"><a title="us-gaap_PreferredStockValue" onclick="toggleNextSibling(this);">0</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_PreferredStockValue</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockValue', window );">Common stock, $0.001 par value; 95,000,000 shares authorized; 43,579,557 shares and 43,579,557 shares outstanding, respectively</a></td>
        <td class="nump"><a title="us-gaap_CommonStockValue" onclick="toggleNextSibling(this);">43,580</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_CommonStockValue</span><span></span></td>
        <td class="nump"><a title="us-gaap_CommonStockValue" onclick="toggleNextSibling(this);">43,580</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_CommonStockValue</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdditionalPaidInCapital', window );">Additional paid-in capital</a></td>
        <td class="nump"><a title="us-gaap_AdditionalPaidInCapital" onclick="toggleNextSibling(this);">23,590,204</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_AdditionalPaidInCapital</span><span></span></td>
        <td class="nump"><a title="us-gaap_AdditionalPaidInCapital" onclick="toggleNextSibling(this);">23,590,204</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_AdditionalPaidInCapital</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RetainedEarningsAccumulatedDeficit', window );">Retained earnings</a></td>
        <td class="nump"><a title="us-gaap_RetainedEarningsAccumulatedDeficit" onclick="toggleNextSibling(this);">62,848,901</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_RetainedEarningsAccumulatedDeficit</span><span></span></td>
        <td class="nump"><a title="us-gaap_RetainedEarningsAccumulatedDeficit" onclick="toggleNextSibling(this);">88,896,276</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_RetainedEarningsAccumulatedDeficit</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreconfirmationAccumulatedOtherComprehensiveIncomeLoss', window );">Accumulated other comprehensive income</a></td>
        <td class="nump"><a title="us-gaap_PreconfirmationAccumulatedOtherComprehensiveIncomeLoss" onclick="toggleNextSibling(this);">19,771,160</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_PreconfirmationAccumulatedOtherComprehensiveIncomeLoss</span><span></span></td>
        <td class="nump"><a title="us-gaap_PreconfirmationAccumulatedOtherComprehensiveIncomeLoss" onclick="toggleNextSibling(this);">20,414,381</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_PreconfirmationAccumulatedOtherComprehensiveIncomeLoss</span><span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Total Stockholders' Equity</a></td>
        <td class="nump"><a title="us-gaap_StockholdersEquity" onclick="toggleNextSibling(this);">106,253,845</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_StockholdersEquity</span><span></span></td>
        <td class="nump"><a title="us-gaap_StockholdersEquity" onclick="toggleNextSibling(this);">132,944,441</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_StockholdersEquity</span><span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquity', window );">TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY</a></td>
        <td class="nump"><a title="us-gaap_LiabilitiesAndStockholdersEquity" onclick="toggleNextSibling(this);">$ 132,081,828</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_LiabilitiesAndStockholdersEquity</span><span></span></td>
        <td class="nump"><a title="us-gaap_LiabilitiesAndStockholdersEquity" onclick="toggleNextSibling(this);">$ 157,610,954</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_LiabilitiesAndStockholdersEquity</span><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_AdvancesForPurchasesOfIntangibleAssets">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>AdvancesForPurchasesOfIntangibleAssets</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_AdvancesForPurchasesOfIntangibleAssets</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_AdvancesToSuppliers">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying amount as of the balance sheet date of advances to suppliers.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_AdvancesToSuppliers</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsPayableOtherCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying value as of the balance sheet date of obligations incurred and payable, which are not elsewhere specified in the taxonomy. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 19<br><br> -Subparagraph a<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Current Liabilities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6509677<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 8<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6935-107765<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.19(a))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_AccountsPayableOtherCurrent</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsPayableTradeCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying value as of the balance sheet date of obligations 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. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 19<br><br> -Subparagraph a<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Current Liabilities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6509677<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 8<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6935-107765<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.19(a))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_AccountsPayableTradeCurrent</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsReceivableNetCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.3-4)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 3<br><br> -Subparagraph a(1)<br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 4<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_AccountsReceivableNetCurrent</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccruedLiabilitiesCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. 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).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 20<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.20)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_AccruedLiabilitiesCurrent</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdditionalPaidInCapital">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred stock.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 31<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.30(a)(1))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_AdditionalPaidInCapital</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Assets">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.18)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 12<br><br> -Article 7<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 18<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_Assets</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.9)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6801-107765<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 9<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_AssetsCurrent</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrentAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_AssetsCurrentAbstract</td>
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                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Cash">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Excludes cash and cash equivalents within disposal group and discontinued operation.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Cash<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 1<br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_Cash</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashEquivalentsAtCarryingValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Cash Equivalents<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 1<br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_CashEquivalentsAtCarryingValue</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 30<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_CommonStockValue</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CustomerAdvancesCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The current portion of prepayments received from customers for goods or services to be provided in the future.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.20)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_CustomerAdvancesCurrent</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxLiabilitiesNoncurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of deferred tax liability attributable to taxable temporary differences, net of deferred tax asset attributable to deductible temporary differences and carryforwards net of valuation allowances expected to be realized or consumed after one year (or the normal operating cycle, if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31917-109318<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31931-109318<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 9<br><br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31958-109318<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_DeferredTaxLiabilitiesNoncurrent</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DueToRelatedPartiesCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying amount as of the balance sheet date of obligations due all related parties. For classified balance sheets, represents the current portion of such liabilities (due within one year or within the normal operating cycle if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(k)(1))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 850<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (d)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Paragraph k<br><br> -Subparagraph 1<br><br> -Article 4<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 19<br><br> -Subparagraph a<br><br> -Article 5<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.19(a))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_DueToRelatedPartiesCurrent</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IntangibleAssetsNetExcludingGoodwill">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 350<br><br> -SubTopic 30<br><br> -Section 45<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6388964&amp;loc=d3e16212-109274<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 350<br><br> -SubTopic 30<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph ((a)(1),(b))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_IntangibleAssetsNetExcludingGoodwill</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryNet">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.6(a))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 330<br><br> -SubTopic 10<br><br> -Section 35<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6386567&amp;loc=d3e3927-108312<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 1<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_InventoryNet</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Liabilities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.19-26)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_Liabilities</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesAndStockholdersEquity">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.32)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 25<br><br> -Article 7<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 32<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_LiabilitiesAndStockholdersEquity</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.21)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 21<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_LiabilitiesCurrent</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesCurrentAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_LiabilitiesCurrentAbstract</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesNoncurrentAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_LiabilitiesNoncurrentAbstract</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermConstructionLoanCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>This element represents the current portion of a long-term real estate loan to finance building costs. The funds are disbursed as needed or in accordance with a prearranged plan; generally, a portion of the funds is disbursed at inception and the remainder as construction progresses. The money is repaid on completion of the project (generally one to seven years), usually from the proceeds of a mortgage loan. The rate is normally higher than the prime rate, and there is usually an origination fee. The effective yield on these loans tends to be high, and the lender has a security interest in the real property.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.19,20)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 20<br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 19<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_LongTermConstructionLoanCurrent</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermConstructionLoanCurrentAndNoncurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>This element represents the current and noncurrent portions of a long-term real estate loan with an initial maturity beyond one year or beyond the normal operating cycle, if longer, to finance building costs. The funds are disbursed as needed or in accordance with a prearranged plan; generally, a portion of the funds is disbursed at inception and the remainder as construction progresses. The money is repaid on completion of the project (generally one to seven years), usually from the proceeds of a mortgage loan. The rate is normally higher than the prime rate, and there is usually an origination fee. The effective yield on these loans tends to be high, and the lender has a security interest in the real property.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 20<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 19<br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 22<br><br> -Article 5<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.9-03.16)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-03.16)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.19,20,22)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_LongtermConstructionLoanCurrentAndNoncurrent</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NotesPayableCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the carrying values as of the balance sheet date of the portions of long-term notes payable due within one year or the operating cycle if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.19,20)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 19, 20<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_NotesPayableCurrent</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherReceivablesNetCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The carrying amount of other receivables, net, due within one year of the balance sheet date (or one operating cycle, if longer) from third parties or arising from transactions not separately disclosed.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_OtherReceivablesNetCurrent</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreconfirmationAccumulatedOtherComprehensiveIncomeLoss">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of accumulated other comprehensive Income or Loss at the balance sheet date before fresh-start adjustments.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 852<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 10<br><br> -URI http://asc.fasb.org/extlink&amp;oid=34712771&amp;loc=d3e56426-112766<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_PreconfirmationAccumulatedOtherComprehensiveIncomeLoss</td>
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                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_PreferredStockValue</td>
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                    <td>xbrli:monetaryItemType</td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying amount as of the balance sheet date of expenditures made in advance of when the economic benefit of the cost will be realized, and which will be expensed in future periods with the passage of time or when a triggering event occurs.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.9-03.10)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 10<br><br> -Article 9<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-03.10)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_PrepaidExpenseCurrentAndNoncurrent</td>
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                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentNet">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 360<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.13)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 13<br><br> -Subparagraph a<br><br> -Article 5<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 8<br><br> -Article 7<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentNet</td>
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                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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                    <td><strong> Data Type:</strong></td>
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                    <td><strong> Balance Type:</strong></td>
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                    <td><strong> Period Type:</strong></td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cumulative amount of the reporting entity's undistributed earnings or deficit.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 31<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.31(a)(3))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_RetainedEarningsAccumulatedDeficit</td>
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                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 310<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SAB TOPIC 4.E)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27010918&amp;loc=d3e74512-122707<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 4<br><br> -Section E<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29-31)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30, 31<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_StockholdersEquity</td>
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EZBAC">
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          <div style="width: 200px;"><strong>RELATED PARTY TRANSACTIONS Member Of BOD (Details) (USD $)<br></strong></div>
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        <th class="th" colspan="2">12 Months Ended</th>
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      <tr>
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          <div>Dec. 31, 2014</div>
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          <div>Dec. 31, 2013</div>
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        <td class="text">&#xA0;<span></span></td>
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        <td class="nump"><a title="fil_TotalInterestExpenseRecognizedForThePeriod" onclick="toggleNextSibling(this);">$ 13,546</a><span style="display:none;white-space:normal;text-align:left;">fil_TotalInterestExpenseRecognizedForThePeriod</span><span></span></td>
        <td class="nump"><a title="fil_TotalInterestExpenseRecognizedForThePeriod" onclick="toggleNextSibling(this);">$ 13,546</a><span style="display:none;white-space:normal;text-align:left;">fil_TotalInterestExpenseRecognizedForThePeriod</span><span></span></td>
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        <td class="nump"><a title="fil_InterestRateOnAdvancesFromMemberOfBOD" onclick="toggleNextSibling(this);">1.00%</a><span style="display:none;white-space:normal;text-align:left;">fil_InterestRateOnAdvancesFromMemberOfBOD</span><span></span></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Interest rate on advances from Member of BOD</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total interest expense recognized for the period</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_TotalInterestExpenseRecognizedForThePeriod</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>49
<FILENAME>R6.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
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    <link rel="stylesheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EESAG">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="2">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2014</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Cash Flows from Operating Activities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net loss.</a></td>
        <td class="num"><a title="us-gaap_NetIncomeLoss" onclick="toggleNextSibling(this);">$ (26,047,375)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_NetIncomeLoss</span><span></span></td>
        <td class="num"><a title="us-gaap_NetIncomeLoss" onclick="toggleNextSibling(this);">$ (20,008,049)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_NetIncomeLoss</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepreciationDepletionAndAmortization', window );">Depreciation and amortization</a></td>
        <td class="nump"><a title="us-gaap_DepreciationDepletionAndAmortization" onclick="toggleNextSibling(this);">1,785,835</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_DepreciationDepletionAndAmortization</span><span></span></td>
        <td class="nump"><a title="us-gaap_DepreciationDepletionAndAmortization" onclick="toggleNextSibling(this);">1,612,830</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_DepreciationDepletionAndAmortization</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_IncreaseInBadDebtExpense', window );">Bad debt expense.</a></td>
        <td class="nump"><a title="fil_IncreaseInBadDebtExpense" onclick="toggleNextSibling(this);">20,643,035</a><span style="display:none;white-space:normal;text-align:left;">fil_IncreaseInBadDebtExpense</span><span></span></td>
        <td class="nump"><a title="fil_IncreaseInBadDebtExpense" onclick="toggleNextSibling(this);">10,752,991</a><span style="display:none;white-space:normal;text-align:left;">fil_IncreaseInBadDebtExpense</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredIncomeTaxExpenseBenefit', window );">Deferred income taxes</a></td>
        <td class="nump"><a title="us-gaap_DeferredIncomeTaxExpenseBenefit" onclick="toggleNextSibling(this);">77,042</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_DeferredIncomeTaxExpenseBenefit</span><span></span></td>
        <td class="nump"><a title="us-gaap_DeferredIncomeTaxExpenseBenefit" onclick="toggleNextSibling(this);">1,061,413</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_DeferredIncomeTaxExpenseBenefit</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_InventoryObsolescenceReserve', window );">Inventory obsolescence reserve</a></td>
        <td class="num"><a title="fil_InventoryObsolescenceReserve" onclick="toggleNextSibling(this);">(1,055,529)</a><span style="display:none;white-space:normal;text-align:left;">fil_InventoryObsolescenceReserve</span><span></span></td>
        <td class="nump"><a title="fil_InventoryObsolescenceReserve" onclick="toggleNextSibling(this);">6,121,655</a><span style="display:none;white-space:normal;text-align:left;">fil_InventoryObsolescenceReserve</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract', window );"><strong>Changes in assets and liabilities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccountsAndOtherReceivables', window );">Trade accounts and other receivables</a></td>
        <td class="num"><a title="us-gaap_IncreaseDecreaseInAccountsAndOtherReceivables" onclick="toggleNextSibling(this);">(3,443,329)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_IncreaseDecreaseInAccountsAndOtherReceivables</span><span></span></td>
        <td class="nump"><a title="us-gaap_IncreaseDecreaseInAccountsAndOtherReceivables" onclick="toggleNextSibling(this);">3,633,180</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_IncreaseDecreaseInAccountsAndOtherReceivables</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInDepositOtherAssets', window );">Advances to suppliers</a></td>
        <td class="num"><a title="us-gaap_IncreaseDecreaseInDepositOtherAssets" onclick="toggleNextSibling(this);">(296,979)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_IncreaseDecreaseInDepositOtherAssets</span><span></span></td>
        <td class="num"><a title="us-gaap_IncreaseDecreaseInDepositOtherAssets" onclick="toggleNextSibling(this);">(2,625,629)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_IncreaseDecreaseInDepositOtherAssets</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInInventories', window );">Inventory</a></td>
        <td class="nump"><a title="us-gaap_IncreaseDecreaseInInventories" onclick="toggleNextSibling(this);">12,780,457</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_IncreaseDecreaseInInventories</span><span></span></td>
        <td class="nump"><a title="us-gaap_IncreaseDecreaseInInventories" onclick="toggleNextSibling(this);">11,155,810</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_IncreaseDecreaseInInventories</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccountsPayableTrade', window );">Trade accounts payable</a></td>
        <td class="nump"><a title="us-gaap_IncreaseDecreaseInAccountsPayableTrade" onclick="toggleNextSibling(this);">634,673</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_IncreaseDecreaseInAccountsPayableTrade</span><span></span></td>
        <td class="num"><a title="us-gaap_IncreaseDecreaseInAccountsPayableTrade" onclick="toggleNextSibling(this);">(1,183,733)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_IncreaseDecreaseInAccountsPayableTrade</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccruedTaxesPayable', window );">Accrued taxes payable</a></td>
        <td class="nump"><a title="us-gaap_IncreaseDecreaseInAccruedTaxesPayable" onclick="toggleNextSibling(this);">84</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_IncreaseDecreaseInAccruedTaxesPayable</span><span></span></td>
        <td class="num"><a title="us-gaap_IncreaseDecreaseInAccruedTaxesPayable" onclick="toggleNextSibling(this);">(2,499,949)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_IncreaseDecreaseInAccruedTaxesPayable</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccruedLiabilities', window );">Other payables and accrued expenses</a></td>
        <td class="nump"><a title="us-gaap_IncreaseDecreaseInAccruedLiabilities" onclick="toggleNextSibling(this);">37,584</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_IncreaseDecreaseInAccruedLiabilities</span><span></span></td>
        <td class="nump"><a title="us-gaap_IncreaseDecreaseInAccruedLiabilities" onclick="toggleNextSibling(this);">356,640</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_IncreaseDecreaseInAccruedLiabilities</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInCustomerAdvances', window );">Advances from customers</a></td>
        <td class="num"><a title="us-gaap_IncreaseDecreaseInCustomerAdvances" onclick="toggleNextSibling(this);">(139,066)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_IncreaseDecreaseInCustomerAdvances</span><span></span></td>
        <td class="nump"><a title="us-gaap_IncreaseDecreaseInCustomerAdvances" onclick="toggleNextSibling(this);">218,656</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_IncreaseDecreaseInCustomerAdvances</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInPrepaidExpense', window );">Prepaid expenses</a></td>
        <td class="num"><a title="us-gaap_IncreaseDecreaseInPrepaidExpense" onclick="toggleNextSibling(this);">(404,060)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_IncreaseDecreaseInPrepaidExpense</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivities', window );">Net Cash Provided by Operating Activities</a></td>
        <td class="nump"><a title="us-gaap_NetCashProvidedByUsedInOperatingActivities" onclick="toggleNextSibling(this);">4,572,372</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_NetCashProvidedByUsedInOperatingActivities</span><span></span></td>
        <td class="nump"><a title="us-gaap_NetCashProvidedByUsedInOperatingActivities" onclick="toggleNextSibling(this);">8,595,815</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_NetCashProvidedByUsedInOperatingActivities</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract', window );"><strong>Cash Flows from Investing Activities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IndefiniteLivedIntangibleAssetsPeriodIncreaseDecrease', window );">Advances for purchases of intangible assets</a></td>
        <td class="num"><a title="us-gaap_IndefiniteLivedIntangibleAssetsPeriodIncreaseDecrease" onclick="toggleNextSibling(this);">(714,697)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_IndefiniteLivedIntangibleAssetsPeriodIncreaseDecrease</span><span></span></td>
        <td class="num"><a title="us-gaap_IndefiniteLivedIntangibleAssetsPeriodIncreaseDecrease" onclick="toggleNextSibling(this);">(298,631)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_IndefiniteLivedIntangibleAssetsPeriodIncreaseDecrease</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment', window );">Purchases of property and equipment</a></td>
        <td class="num"><a title="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" onclick="toggleNextSibling(this);">(5,128,699)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_PaymentsToAcquirePropertyPlantAndEquipment</span><span></span></td>
        <td class="num"><a title="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" onclick="toggleNextSibling(this);">(18,794,261)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_PaymentsToAcquirePropertyPlantAndEquipment</span><span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivities', window );">Net Cash Used in Investing Activities</a></td>
        <td class="num"><a title="us-gaap_NetCashProvidedByUsedInInvestingActivities" onclick="toggleNextSibling(this);">(5,843,396)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_NetCashProvidedByUsedInInvestingActivities</span><span></span></td>
        <td class="num"><a title="us-gaap_NetCashProvidedByUsedInInvestingActivities" onclick="toggleNextSibling(this);">(19,092,892)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_NetCashProvidedByUsedInInvestingActivities</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract', window );"><strong>Cash Flows from Financing Activities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromConstructionLoansPayable', window );">Proceeds from construction term loan</a></td>
        <td class="nump"><a title="us-gaap_ProceedsFromConstructionLoansPayable" onclick="toggleNextSibling(this);">605,002</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ProceedsFromConstructionLoansPayable</span><span></span></td>
        <td class="nump"><a title="us-gaap_ProceedsFromConstructionLoansPayable" onclick="toggleNextSibling(this);">12,322,648</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ProceedsFromConstructionLoansPayable</span><span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivities', window );">Net Cash Provided by Financing Activity</a></td>
        <td class="nump"><a title="us-gaap_NetCashProvidedByUsedInFinancingActivities" onclick="toggleNextSibling(this);">605,002</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_NetCashProvidedByUsedInFinancingActivities</span><span></span></td>
        <td class="nump"><a title="us-gaap_NetCashProvidedByUsedInFinancingActivities" onclick="toggleNextSibling(this);">12,322,648</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_NetCashProvidedByUsedInFinancingActivities</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents', window );">Effect of Exchange Rate Changes on Cash</a></td>
        <td class="num"><a title="us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents" onclick="toggleNextSibling(this);">(31,327)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents</span><span></span></td>
        <td class="nump"><a title="us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents" onclick="toggleNextSibling(this);">137,860</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease', window );">Net (Decrease) Increase in Cash and Cash Equivalents</a></td>
        <td class="num"><a title="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" onclick="toggleNextSibling(this);">(697,349)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease</span><span></span></td>
        <td class="nump"><a title="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" onclick="toggleNextSibling(this);">1,963,431</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_CashAndCashEquivalentsAtBeginningOfPeriod', window );">Cash and Cash Equivalents at Beginning of Period</a></td>
        <td class="nump"><a title="fil_CashAndCashEquivalentsAtBeginningOfPeriod" onclick="toggleNextSibling(this);">5,993,139</a><span style="display:none;white-space:normal;text-align:left;">fil_CashAndCashEquivalentsAtBeginningOfPeriod</span><span></span></td>
        <td class="nump"><a title="fil_CashAndCashEquivalentsAtBeginningOfPeriod" onclick="toggleNextSibling(this);">4,029,708</a><span style="display:none;white-space:normal;text-align:left;">fil_CashAndCashEquivalentsAtBeginningOfPeriod</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_CashAndCashEquivalentsAtEndOfPeriod', window );">Cash and Cash Equivalents at End of Period</a></td>
        <td class="nump"><a title="fil_CashAndCashEquivalentsAtEndOfPeriod" onclick="toggleNextSibling(this);">5,295,790</a><span style="display:none;white-space:normal;text-align:left;">fil_CashAndCashEquivalentsAtEndOfPeriod</span><span></span></td>
        <td class="nump"><a title="fil_CashAndCashEquivalentsAtEndOfPeriod" onclick="toggleNextSibling(this);">5,993,139</a><span style="display:none;white-space:normal;text-align:left;">fil_CashAndCashEquivalentsAtEndOfPeriod</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SupplementalCashFlowInformationAbstract', window );"><strong>Supplemental Cash Flow Information:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestPaid', window );">Cash paid for interest</a></td>
        <td class="nump"><a title="us-gaap_InterestPaid" onclick="toggleNextSibling(this);">1,230,800</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_InterestPaid</span><span></span></td>
        <td class="nump"><a title="us-gaap_InterestPaid" onclick="toggleNextSibling(this);">569,855</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_InterestPaid</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxesPaidNet', window );">Cash paid for income taxes</a></td>
        <td class="nump"><a title="us-gaap_IncomeTaxesPaidNet" onclick="toggleNextSibling(this);">0</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_IncomeTaxesPaidNet</span><span></span></td>
        <td class="nump"><a title="us-gaap_IncomeTaxesPaidNet" onclick="toggleNextSibling(this);">2,481,164</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_IncomeTaxesPaidNet</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract', window );"><strong>Supplemental Noncash Investing and Financing Activities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_AccountsPayableForPurchasesOfPropertyAndEquipment', window );">Accounts payable for purchases of property and equipment</a></td>
        <td class="nump"><a title="fil_AccountsPayableForPurchasesOfPropertyAndEquipment" onclick="toggleNextSibling(this);">46,780</a><span style="display:none;white-space:normal;text-align:left;">fil_AccountsPayableForPurchasesOfPropertyAndEquipment</span><span></span></td>
        <td class="nump"><a title="fil_AccountsPayableForPurchasesOfPropertyAndEquipment" onclick="toggleNextSibling(this);">144,243</a><span style="display:none;white-space:normal;text-align:left;">fil_AccountsPayableForPurchasesOfPropertyAndEquipment</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_AccountsReceivableCollectedWithBankerSAcceptances', window );">Accounts receivable collected with banker's acceptances</a></td>
        <td class="nump"><a title="fil_AccountsReceivableCollectedWithBankerSAcceptances" onclick="toggleNextSibling(this);">2,777,579</a><span style="display:none;white-space:normal;text-align:left;">fil_AccountsReceivableCollectedWithBankerSAcceptances</span><span></span></td>
        <td class="nump"><a title="fil_AccountsReceivableCollectedWithBankerSAcceptances" onclick="toggleNextSibling(this);">8,317,045</a><span style="display:none;white-space:normal;text-align:left;">fil_AccountsReceivableCollectedWithBankerSAcceptances</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_InventoryPurchasedWithBankerSAcceptances', window );">Inventory purchased with banker's acceptances</a></td>
        <td class="nump"><a title="fil_InventoryPurchasedWithBankerSAcceptances" onclick="toggleNextSibling(this);">2,489,698</a><span style="display:none;white-space:normal;text-align:left;">fil_InventoryPurchasedWithBankerSAcceptances</span><span></span></td>
        <td class="nump"><a title="fil_InventoryPurchasedWithBankerSAcceptances" onclick="toggleNextSibling(this);">4,626,165</a><span style="display:none;white-space:normal;text-align:left;">fil_InventoryPurchasedWithBankerSAcceptances</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_AdvancesForPurchasesOfEquipmentPaidWithBankerSAcceptances', window );">Advances for purchases of equipment paid with banker's acceptances</a></td>
        <td class="nump"><a title="fil_AdvancesForPurchasesOfEquipmentPaidWithBankerSAcceptances" onclick="toggleNextSibling(this);">0</a><span style="display:none;white-space:normal;text-align:left;">fil_AdvancesForPurchasesOfEquipmentPaidWithBankerSAcceptances</span><span></span></td>
        <td class="nump"><a title="fil_AdvancesForPurchasesOfEquipmentPaidWithBankerSAcceptances" onclick="toggleNextSibling(this);">2,564,790</a><span style="display:none;white-space:normal;text-align:left;">fil_AdvancesForPurchasesOfEquipmentPaidWithBankerSAcceptances</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_AdvancesForPurchasesOfIntangiblesPaidWithBankerSAcceptances', window );">Advances for purchases of intangibles paid with banker's acceptances</a></td>
        <td class="nump"><a title="fil_AdvancesForPurchasesOfIntangiblesPaidWithBankerSAcceptances" onclick="toggleNextSibling(this);">$ 164,208</a><span style="display:none;white-space:normal;text-align:left;">fil_AdvancesForPurchasesOfIntangiblesPaidWithBankerSAcceptances</span><span></span></td>
        <td class="nump"><a title="fil_AdvancesForPurchasesOfIntangiblesPaidWithBankerSAcceptances" onclick="toggleNextSibling(this);">$ 897,820</a><span style="display:none;white-space:normal;text-align:left;">fil_AdvancesForPurchasesOfIntangiblesPaidWithBankerSAcceptances</span><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_AccountsPayableForPurchasesOfPropertyAndEquipment">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Accounts receivable collected with banker's acceptances</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_AccountsPayableForPurchasesOfPropertyAndEquipment</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_AccountsReceivableCollectedWithBankerSAcceptances">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Accounts receivable collected with banker's acceptances</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_AccountsReceivableCollectedWithBankerSAcceptances</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_AdvancesForPurchasesOfEquipmentPaidWithBankerSAcceptances">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Subsidy income</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_AdvancesForPurchasesOfEquipmentPaidWithBankerSAcceptances</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_AdvancesForPurchasesOfIntangiblesPaidWithBankerSAcceptances">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>AdvancesForPurchasesOfIntangiblesPaidWithBankerSAcceptances</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_AdvancesForPurchasesOfIntangiblesPaidWithBankerSAcceptances</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_CashAndCashEquivalentsAtBeginningOfPeriod">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_CashAndCashEquivalentsAtBeginningOfPeriod</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_CashAndCashEquivalentsAtEndOfPeriod">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_CashAndCashEquivalentsAtEndOfPeriod</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_IncreaseInBadDebtExpense">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>No authoritative reference available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_IncreaseInBadDebtExpense</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_InventoryObsolescenceReserve">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Inventory obsolescence reserve</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_InventoryObsolescenceReserve</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_InventoryPurchasedWithBankerSAcceptances">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Inventory purchased with banker's acceptances</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_InventoryPurchasedWithBankerSAcceptances</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 24<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3521-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 830<br><br> -SubTopic 230<br><br> -Section 45<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6450594&amp;loc=d3e33268-110906<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredIncomeTaxExpenseBenefit">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SAB TOPIC 6.I.7)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(h))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Paragraph h<br><br> -Article 4<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 6<br><br> -Section I<br><br> -Subsection 7<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Deferred Tax Expense (or Benefit)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6510177<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 9<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_DeferredIncomeTaxExpenseBenefit</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DepreciationDepletionAndAmortization">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_DepreciationDepletionAndAmortization</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of increase (decrease) from the effect of exchange rate changes on cash and cash equivalent balances held in foreign currencies.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 830<br><br> -SubTopic 230<br><br> -Section 45<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6450594&amp;loc=d3e33268-110906<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxesPaidNet">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income, net of any cash received during the current period as refunds for the overpayment of taxes.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4297-108586<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_IncomeTaxesPaidNet</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccountsAndOtherReceivables">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in the amount due from customers for the credit sale of goods and services; includes accounts receivable and other types of receivables.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccountsAndOtherReceivables</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccountsPayableTrade">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Change in recurring obligations of a business that arise from the acquisition of merchandise, materials, supplies and services used in the production and sale of goods and services.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccountsPayableTrade</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccruedLiabilities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in the aggregate amount of expenses incurred but not yet paid.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccruedLiabilities</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccruedTaxesPayable">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period of all taxes owed but not paid, including income, property and other taxes.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccruedTaxesPayable</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInCustomerAdvances">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in the amount of prepayments by customers for goods or services to be provided at a later date.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInCustomerAdvances</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInDepositOtherAssets">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in moneys or securities given as security including, but not limited to, contract, escrow, or earnest money deposits, retainage (if applicable), deposits with clearing organizations and others, collateral, or margin deposits.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInDepositOtherAssets</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInInventories">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInInventories</td>
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                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract">
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInOperatingCapitalAbstract</td>
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                    <td>xbrli:stringItemType</td>
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                    <td><strong> Balance Type:</strong></td>
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                    <td><strong> Period Type:</strong></td>
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              </div>
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          </td>
        </tr>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in the amount of outstanding money paid in advance for goods or services that bring economic benefits for future periods.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInPrepaidExpense</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IndefiniteLivedIntangibleAssetsPeriodIncreaseDecrease">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of increase (decrease) of assets, excluding financial assets and goodwill, lacking physical substance and having a projected indefinite period of benefit.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 350<br><br> -SubTopic 30<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_IndefiniteLivedIntangibleAssetsPeriodIncreaseDecrease</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestPaid">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of cash paid for interest during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4297-108586<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 25<br><br> -Subparagraph (e)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3536-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_InterestPaid</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 24<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3521-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 26<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3574-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInFinancingActivities</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInInvestingActivities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 24<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3521-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 26<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3574-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInInvestingActivities</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
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                    <td><strong> Balance Type:</strong></td>
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                    <td><strong> Period Type:</strong></td>
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              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 24<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3521-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 25<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3536-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInOperatingActivities</td>
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                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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          </td>
        </tr>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract</td>
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                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Other Comprehensive Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6519514<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Net Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6518256<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.19)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.18)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.22)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 19<br><br> -Article 5<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 20<br><br> -Article 9<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Investing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 13<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3213-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_PaymentsToAcquirePropertyPlantAndEquipment</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromConstructionLoansPayable">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash inflow from borrowings to finance the cost of construction.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 14<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3255-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_ProceedsFromConstructionLoansPayable</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SupplementalCashFlowInformationAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_SupplementalCashFlowInformationAbstract</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
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                  <tr>
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                    <td>na</td>
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                    <td>duration</td>
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EZIAC">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>Inventory consisted of the following (Details) (USD $)<br></strong></div>
        </th>
        <th class="th">
          <div>Dec. 31, 2014</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_InventoryConsistedOfTheFollowingAbstract', window );"><strong>Inventory consisted of the following</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_Rawmaterials1', window );">Raw materials</a></td>
        <td class="nump"><a title="fil_Rawmaterials1" onclick="toggleNextSibling(this);">$ 18,819,570</a><span style="display:none;white-space:normal;text-align:left;">fil_Rawmaterials1</span><span></span></td>
        <td class="nump"><a title="fil_Rawmaterials1" onclick="toggleNextSibling(this);">$ 28,259,707</a><span style="display:none;white-space:normal;text-align:left;">fil_Rawmaterials1</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryWorkInProcess', window );">Work in process</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump"><a title="us-gaap_InventoryWorkInProcess" onclick="toggleNextSibling(this);">853,602</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_InventoryWorkInProcess</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_Finishedgoods1', window );">Finished goods</a></td>
        <td class="nump"><a title="fil_Finishedgoods1" onclick="toggleNextSibling(this);">3,436,330</a><span style="display:none;white-space:normal;text-align:left;">fil_Finishedgoods1</span><span></span></td>
        <td class="nump"><a title="fil_Finishedgoods1" onclick="toggleNextSibling(this);">3,590,937</a><span style="display:none;white-space:normal;text-align:left;">fil_Finishedgoods1</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_InventoryGross1', window );">Inventory Gross</a></td>
        <td class="nump"><a title="fil_InventoryGross1" onclick="toggleNextSibling(this);">22,255,900</a><span style="display:none;white-space:normal;text-align:left;">fil_InventoryGross1</span><span></span></td>
        <td class="nump"><a title="fil_InventoryGross1" onclick="toggleNextSibling(this);">32,704,246</a><span style="display:none;white-space:normal;text-align:left;">fil_InventoryGross1</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_ObsolescenceReserve', window );">Obsolescence reserve</a></td>
        <td class="num"><a title="fil_ObsolescenceReserve" onclick="toggleNextSibling(this);">(6,934,044)</a><span style="display:none;white-space:normal;text-align:left;">fil_ObsolescenceReserve</span><span></span></td>
        <td class="num"><a title="fil_ObsolescenceReserve" onclick="toggleNextSibling(this);">(8,027,126)</a><span style="display:none;white-space:normal;text-align:left;">fil_ObsolescenceReserve</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_TotalInventory', window );">Total Inventory</a></td>
        <td class="nump"><a title="fil_TotalInventory" onclick="toggleNextSibling(this);">$ 15,321,856</a><span style="display:none;white-space:normal;text-align:left;">fil_TotalInventory</span><span></span></td>
        <td class="nump"><a title="fil_TotalInventory" onclick="toggleNextSibling(this);">$ 24,677,120</a><span style="display:none;white-space:normal;text-align:left;">fil_TotalInventory</span><span></span></td>
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        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Rawmaterials1</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_Finishedgoods1</td>
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                    <td>fil_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_InventoryConsistedOfTheFollowingAbstract</td>
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                    <td>na</td>
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                    <td>duration</td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>InventoryGross1</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_InventoryGross1</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_ObsolescenceReserve">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>ObsolescenceReserve</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_ObsolescenceReserve</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_Rawmaterials1">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Rawmaterials1</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_Rawmaterials1</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_TotalInventory">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
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                <p>Amount before valuation and LIFO reserves of merchandise or goods in the production process expected to be completed within one year or operating cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 6<br><br> -Subparagraph a<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.6(a)(3))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0E2EAE">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Accounting Policies (Policies)<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2014</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_AccountingPoliciesPoliciesAbstract', window );"><strong>Accounting Policies (Policies)</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NatureOfOperations', window );">Organization and Nature of Operations</a></td>
        <td class="text"><!--egx--><p style='margin:0cm 0cm 0pt'><b><i><font lang="EN-US">Organization and Nature of Operations &#150; </font></i></b><font lang="EN-US">China Pharma Holdings, Inc., a Nevada corporation, owns 100% of Onny Investment Limited (Onny), a British Virgin Islands corporation, which owns 100% of Hainan Helpson Medical &amp; Biotechnology Co., Ltd (Helpson), a company organized under the laws of the People's Republic of China (the PRC). China Pharma Holdings, Inc. and its subsidiaries are referred to herein as the Company.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US" style='background:white'>On December 31, 2012, China Pharma Holdings, Inc consummated a reincorporation merger for the purpose of changing its state of incorporation from Delaware to Nevada pursuant to the terms and conditions of an Agreement and Plan of Merger dated December 27, 2012.&nbsp;&nbsp;The reincorporation merger was approved by stockholders holding the majority of the Company&#146;s outstanding shares of common stock on December 21, 2012.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">The Foreign Investment Industrial Catalogue<i>&nbsp;</i>(the &#147;Catalogue&#148;) jointly issued by China&#146;s Ministry of Commerce and the National Development and Reform Commission (the latest version is the 2012 version, effective January 30, 2012) classified various industries/businesses into three different categories: (i) encouraged for foreign investment; (ii) restricted to foreign investment; and (iii) prohibited from foreign investment. For any industry/business not covered by any of these three categories, they will be deemed industries/businesses permitted for foreign investment. A typical foreign investment ownership restriction in the pharmaceutical industry is that a foreign investment enterprise (the &#147;FIE&#148;) shall not have the whole or majority of its equity interests owned by a foreign owner if the FIE establishes more than 30 branch stores and distributes a variety of brands in those franchise stores, which is not the case for the Company&#146;s business.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Helpson manufactures and markets generic and branded pharmaceutical products as well as biochemical products primarily to hospitals and private retailers located throughout the PRC. The Company believes Helpson&#146;s business is not subject to any ownership restrictions prescribed under the Catalogue. Onny acquired 100% of the ownership in Helpson on May 25, 2005 by entering into an Equity Transfer Agreement with Helpson&#146;s three former shareholders. The transaction was approved by the Commercial Bureau of Hainan Province on June 12, 2005 and Helpson received the Certificate of Approval for Establishing of Enterprises with Foreign Investment in the PRC on the same day and its business license evidencing its WFOE (Wholly Foreign Owned Enterprise) status on June 21, 2005.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">The Company has acquired and continues to acquire well-accepted medical formulas to add to its diverse portfolio of Western and Chinese medicines.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConsolidationPolicyTextBlock', window );">Consolidation and Basis of Presentation</a></td>
        <td class="text"><!--egx--><p style='margin:0cm 0cm 0pt'><b><i><font lang="EN-US">Consolidation and Basis of Presentation </font></i></b><font lang="EN-US">&#150; The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and are expressed in United States dollars. The accompanying consolidated financial statements include the accounts and operations of the Company and its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in the consolidation.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Helpson&#146;s functional currency is the Chinese Renminbi. Helpson&#146;s revenue and expenses are translated into United States dollars at the average exchange rate for the period. Assets and liabilities are translated at the exchange rate as of the end of the reporting period. Gains or losses from translating Helpson&#146;s financial statements are included in accumulated other comprehensive income, which is a component of stockholders&#146; equity. Gains and losses arising from transactions denominated in a currency other than the functional currency of the entity that is party to the transaction are included in the results of operations.</font></p><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UseOfEstimates', window );">Accounting Estimates</a></td>
        <td class="text"><!--egx--><p style='margin:0cm 0cm 0pt'><b><i><font lang="EN-US">Accounting Estimates </font></i></b><b><font lang="EN-US">- </font></b><font lang="EN-US">The methodology used to prepare for the Company&#146;s financial statements is in conformity with the accounting principles generally accepted in the United States of America, which requires the management of the Company (&#147;Management&#148;) to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Therefore, actual results could differ from those estimates.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsPolicyTextBlock', window );">Cash and Cash Equivalents, Policy</a></td>
        <td class="text"><!--egx--><p style='margin:0cm 0cm 0pt'><b><i><font lang="EN-US">Cash and Cash Equivalents </font></i></b><font lang="EN-US">&#150; Cash and cash equivalents include interest bearing and non-interest bearing bank deposits, money market accounts, and short-term banker&#146;s acceptances purchased with maturities of three months or less.</font></p><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllowanceForCreditLossesTextBlock', window );">Trade Accounts Receivable and Allowance for Doubtful Accounts</a></td>
        <td class="text"><!--egx--><p style='margin:0cm 0cm 0pt'><b><i><font lang="EN-US">Trade Accounts Receivable and Allowance for Doubtful Accounts &#150; </font></i></b><font lang="EN-US">Trade accounts receivables are carried at the original invoiced amounts less an allowance for doubtful accounts. The allowances for doubtful accounts are calculated based on a detailed review of certain individual customer accounts and an estimation of the overall economic conditions affecting the Company's customer base. The Company reviews a customer's credit history before extending credit to the customer. If the financial condition of its customers were to deteriorate, resulting in an impairment of their ability to make payments, additions to the allowance would be required. A provision is made against accounts receivable to the extent they are considered unlikely to be collected. It is common practice in the PRC for receivables to extend beyond one year. Customer balances outstanding for more than one year are allowed for at a greater rate when calculating the allowance for doubtful accounts. As of December 31, 2014, the Company had trade accounts receivable amounting to $48,569,986 from sales that occurred more than one year from that date, which the Company believes are collectable.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">During 2014, the Company offered two of its largest customers a discount of 30% for payments for accounts receivable that were older than one year. The amount of the outstanding accounts receivable balance the discount was applied to was approximately $1.8 million. As a result, the Company recognized additional bad debt expense of approximately $0.53 million for the year ended December 31, 2014.&nbsp;&nbsp;During 2013, Management negotiated settlement offers with certain customers with approximately $8.0 million in accounts receivable balances that were greater than one (1) year past due. The offers to these customers were comprised of discounts ranging from 15% to 30% of the total past due balance in exchange for payment in full by December 31, 2013. As a result, the Company was able to collect cash of approximately $5.85 million, and recognized additional bad debt expenses for the negotiated discounts of approximately $2.1 million for the year ended December 31, 2013.</font></p><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_AdvancesToSuppliersAndAdvancesFromCustomersTextBlock', window );">Advances to Suppliers and Advances from Customers</a></td>
        <td class="text"><!--egx--><p style='margin:0cm 0cm 0pt'><b><i><font lang="EN-US">Advances to Suppliers and Advances from Customers</font></i></b><font lang="EN-US"> &#150; Common practice in the PRC is to make advances to suppliers for materials and to receive advances from customers for finished products. Advances to suppliers are applied to trade accounts payable when the materials are received. Advances received from customers are applied against trade accounts receivable when finished products are sold.</font></p><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryPolicyTextBlock', window );">Inventory, Policy</a></td>
        <td class="text"><!--egx--><p style='margin:0cm 0cm 0pt'><b><i><font lang="EN-US">Inventory</font></i></b><font lang="EN-US"> &#150; Inventory is stated at the lower of cost or net realizable value, computed on an average cost basis. We charge inventory obsolescence expense for inventory allowance to write down our inventory to the lower of cost or estimated market value or to completely write off obsolete or excess inventory. Charges to inventory obsolescence expense totaled $2,250,130 and $9,881,711 for the years ended December 31, 2014 and 2013, respectively. The Company recognized an inventory obsolescence reserve of ($1,093,082) and $6,257,142 for the years ended December 31, 2014 and 2013, respectively.</font></p><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock', window );">Valuation of Long-Lived Assets</a></td>
        <td class="text"><!--egx--><p style='margin:0cm 0cm 0pt'><b><i><font lang="EN-US">Valuation of Long-Lived Assets</font></i></b><font lang="EN-US"> &#150; The carrying values of long-lived assets are reviewed for impairment annually or whenever events or changes in circumstances indicate that the carrying values may not be recoverable. When such an event occurs, the Company projects the undiscounted cash flows to be generated from the use of the asset and its eventual disposition over the remaining life of the asset. If projections indicate that the carrying value of an asset will not be recovered, it is reduced by the estimated excess of the carrying value over the projected discounted cash flows estimated to be generated by the asset. For the years ended December 31, 2014 and 2013, the Company evaluated its long-lived assets and determined that no impairment adjustment was necessary.</font></p><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock', window );">Property, Plant and Equipment, Policy</a></td>
        <td class="text"><!--egx--><p style='margin:0cm 0cm 0pt'><b><i><font lang="EN-US">Property and Equipment</font></i></b><font lang="EN-US"> &#150; Property and equipment are stated at cost. Maintenance and repairs are charged to expenses as incurred and major improvements are capitalized. Gains or losses on sale, trade-in or retirement are included in operations during the period of disposition.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueRecognitionPolicyTextBlock', window );">Revenue Recognition, Policy</a></td>
        <td class="text"><!--egx--><p style='margin:0cm 0cm 0pt'><b><i><font lang="EN-US">Revenue Recognition</font></i></b><font lang="EN-US"> &#150; Revenue is considered earned when the Company obtains persuasive evidence of an arrangement with the customer, when delivery of the products has occurred, when the sales price is fixed or determinable, and when collectability is reasonably assured. Delivery does not occur until products have been shipped to the customer, the risk of loss has transferred to the customer and customer acceptance has been obtained, customer acceptance provisions have lapsed, or the Company obtains objective evidence that the criteria specified in the customer acceptance provisions have been satisfied. The sales price is not considered to be fixed or determinable until all contingencies related to the sale have been resolved.</font></p><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueRecognitionCargoAndFreightPolicyPolicyTextBlock', window );">Cost of Revenues, Policy</a></td>
        <td class="text"><!--egx--><p style='margin:0cm 0cm 0pt'><b><i><font lang="EN-US">Cost of Revenues</font></i></b><font lang="EN-US"> &#150; Cost of revenues includes wages, materials, handling charges, and other expenses associated with the manufacture and delivery of products.</font></p><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ResearchAndDevelopmentExpensePolicy', window );">Research and Development Expense, Policy</a></td>
        <td class="text"><!--egx--><p style='margin:0cm 0cm 0pt'><b><i><font lang="EN-US">Research and Development</font></i></b><font lang="EN-US"> &#150; Research and development expenditures are recorded as expenses in the period in which they occur. Research and development expenses were $2,798,557 and $1,683,244 for the years ended December 31, 2014 and 2013, respectively.&nbsp;</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PostemploymentBenefitPlansPolicy', window );">Retirement Benefit Plans</a></td>
        <td class="text"><!--egx--><p style='margin:0cm 0cm 0pt'><b><i><font lang="EN-US">Retirement Benefit Plans</font></i></b><font lang="EN-US"> &#150; The Company is required to make monthly contributions at prescribed rates to various employee retirement benefit plans organized by the provincial governments. The benefit plans of the government assume the retirement benefit obligations of all existing and future retired employees of the Company. The Company contributed $249,921 and $241,384 to retirement benefit plans for the years ended December 31, 2014 and 2013, respectively. Contributions to these plans are charged to expense as incurred.</font></p><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdvertisingCostsPolicyTextBlock', window );">Advertising Costs, Policy</a></td>
        <td class="text"><!--egx--><p style='margin:0cm 0cm 0pt'><b><i><font lang="EN-US">Advertising Costs</font></i></b><font lang="EN-US"> &#150; Advertising costs are expensed when incurred. The Company did not incur any advertising costs for the years ended December 31, 2014 and 2013.</font></p><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerSharePolicyTextBlock', window );">Basic and Diluted (Loss) Earnings per Common Share</a></td>
        <td class="text"><!--egx--><p style='margin:0cm 0cm 0pt'><b><i><font lang="EN-US">Basic and Diluted (Loss) Earnings per Common Share </font></i></b><b><font lang="EN-US">- </font></b><font lang="EN-US">Basic (loss) earnings per common share is computed by dividing net (loss) income by the weighted-average number of common shares outstanding during the period. Diluted (loss) earnings per share is calculated to give effect to potentially issuable dilutive common shares.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">The following table is a presentation of the numerators and denominators used in the calculation of basic and diluted (loss) earnings per share:</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p> <table border="0" cellspacing="0" cellpadding="0" width="100%" style='width:100%'> <tr> <td valign="bottom" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" colspan="6" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">For the Year</font></b></p></td> <td valign="bottom" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" colspan="6" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">Ended December 31,</font></b></p></td> <td valign="bottom" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">2014</font></b></p></td> <td valign="bottom" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">2013</font></b></p></td> <td valign="bottom" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Net loss</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">(26,047,375</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">)</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">(20,008,049</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">)</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Basic weighted-average common shares outstanding</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">43,579,557</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">43,579,557</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Effect of dilutive securities:</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt 9pt'><font lang="EN-US">Warrants</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">-</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">-</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Options</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">-</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">-</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Diluted weighted-average common shares outstanding</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">43,579,557</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">43,579,557</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Basic loss per share</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">(0.60</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">)</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">(0.46</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">)</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Diluted loss per share</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">(0.60</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">)</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">(0.46</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">)</font></p></td></tr></table> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">There were no potential dilutive common shares outstanding during the years ended December 31, 2014 and 2013, respectively.&nbsp;</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskCreditRisk', window );">Credit Risk, Policy</a></td>
        <td class="text"><!--egx--><p style='margin:0cm 0cm 0pt'><b><i><font lang="EN-US">Credit Risk</font></i></b><font lang="EN-US"> &#150; The carrying amount of accounts receivable included in the balance sheet represents the Company's exposure to credit risk in relation to its financial assets. No other financial assets carries a significant exposure to credit risk. The Company performs ongoing credit evaluations of each customer's financial condition. The Company maintains allowances for doubtful accounts and such allowances in the aggregate have not exceeded Management's estimates.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">The Company has its cash in bank deposits primarily at state owned banks located in the PRC. Historically, deposits in PRC banks have been secured due to the state policy of protecting depositors&#146; interests. The PRC promulgated a new Bankruptcy Law in August 2006, effective June&nbsp;1, 2007, which contains provisions for the implementation of measures for the bankruptcy of PRC banks. In the event that bankruptcy laws are enacted for banks in the PRC, the Company&#146;s deposits may be at a higher risk of loss.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_InterestRateRiskTextBlock', window );">Interest Rate Risk</a></td>
        <td class="text"><!--egx--><p style='margin:0cm 0cm 0pt'><b><i><font lang="EN-US">Interest Rate Risk</font></i></b><font lang="EN-US"> &#150; The Company is exposed to the risk arising from changing interest rates, which may affect the ability of repayment of existing debts and viability of securing future debt instruments within the PRC.</font></p><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock', window );">Recently Announced Accounting Standards</a></td>
        <td class="text"><!--egx--><p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><b><i><font lang="EN-US">Recent Accounting Pronouncements</font></i></b></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">In May 2014, the FASB issued ASU 2014-09,&nbsp;<i>"Revenue from Contracts with Customers"</i>&nbsp;(ASU 2014-09), which contains new accounting literature relating to how and when a company recognizes revenue. Under ASU 2014-09, a company recognizes revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods and services. ASU 2014-09 will be effective for the Company&#146;s fiscal year beginning January 1, 2017, with early application not permitted. The Company is in the process of determining what impact, if any, the adoption of ASU 2014-09 will have on its financial statements and related disclosures. The standard permits the use of either the full retrospective or modified retrospective transition method. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting.</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;&nbsp;&nbsp;</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">In June 2014, the FASB issued ASU 2014-12,&nbsp;<i>Compensation-Stock Compensation (Topic 718)</i>. The ASU clarifies how entities should treat performance targets that can be achieved after the requisite service period of a share-based payment award. The accounting standard is effective for interim and annual periods beginning December 15, 2015.&nbsp;&nbsp;The Company does not anticipate the adoption of ASU 2014-12 will have a material impact on its financial statements and related disclosures.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US" style='background:white'>Other accounting standards that have been issued by the FASB or other standards-setting bodies are not expected to have a material effect on the Company&#146;s financial position, result of operations or cash flows.</font></p><span></span></td>
      </tr>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Disclosure of accounting policy for advances to suppliers and advances from customers</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
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                <table border="0" cellpadding="0" cellspacing="0">
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Disclosure of accounting policy for credit risk.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Disclosure of accounting policy for advertising costs. For those costs that cannot be capitalized, discloses whether such costs are expensed as incurred or the first period in which the advertising takes place. For direct response advertising costs that are capitalized, describes those assets and the accounting policy used, including a description of the qualifying activity, the types of costs capitalized and the related amortization period. An entity also may disclose its accounting policy for cooperative advertising arrangements.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18780-107790<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 340<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=32704220&amp;loc=d3e8275-108329<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 340<br><br> -SubTopic 20<br><br> -Section 55<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6387522&amp;loc=d3e8384-108330<br><br><br><br></p>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for allowance for credit losses.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Disclosure of accounting policy for cash and cash equivalents, including the policy for determining which items are treated as cash equivalents. Other information that may be disclosed includes (1) the nature of any restrictions on the entity's use of its cash and cash equivalents, (2) whether the entity's cash and cash equivalents are insured or expose the entity to credit risk, (3) the classification of any negative balance accounts (overdrafts), and (4) the carrying basis of cash equivalents (for example, at cost) and whether the carrying amount of cash equivalents approximates fair value.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18780-107790<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Cash<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Cash Equivalents<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4273-108586<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 305<br><br> -SubTopic 10<br><br> -Section 05<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6375392&amp;loc=d3e26790-107797<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 1<br><br> -Article 5<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Financial Reporting Release (FRR)<br><br> -Number 203<br><br> -Paragraph 02-03<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsPolicyTextBlock</td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Disclosure of accounting policy for credit risk.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 825<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28088331&amp;loc=SL29635902-196195<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 20<br><br> -URI http://asc.fasb.org/extlink&amp;oid=35750535&amp;loc=d3e13531-108611<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 21<br><br> -URI http://asc.fasb.org/extlink&amp;oid=35750535&amp;loc=d3e13537-108611<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6875567&amp;loc=d3e14489-108613<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 825<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6480020&amp;loc=d3e61082-112788<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 825<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6480020&amp;loc=d3e61044-112788<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Disclosure of accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example, common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting.  The accounting policy may also address the accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
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              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Disclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18780-107790<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3630-109257<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Disclosure of accounting policy for recognizing and measuring the impairment of long-lived assets. An entity also may disclose its accounting policy for long-lived assets to be sold. This policy excludes goodwill and intangible assets.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18780-107790<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 5<br><br> -Section CC<br><br> -Subsection 3<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 360<br><br> -SubTopic 10<br><br> -Section 05<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6390181&amp;loc=d3e202-110218<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock</td>
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                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Disclosure of accounting policy for major classes of inventories, bases of stating inventories (for example, lower of cost or market), methods by which amounts are added and removed from inventory classes (for example, FIFO, LIFO, or average cost), loss recognition on impairment of inventories, and situations in which inventories are stated above cost. If inventory is carried at cost, this disclosure includes the nature of the cost elements included in inventory.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
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              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for the nature of an entity's business, the major products or services it sells or provides and its principal markets, including the locations of those markets. If the entity operates in more than one business, the disclosure also indicates the relative importance of its operations in each business and the basis for the determination (for example, assets, revenues, or earnings).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 275<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6927468&amp;loc=d3e6003-108592<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
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                    <td><strong> Period Type:</strong></td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Disclosure of accounting policy pertaining to new accounting pronouncements that may impact the entity's financial reporting. Includes, but is not limited to, quantification of the expected or actual impact.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Disclosure of accounting policy for postemployment benefits. Postemployment benefits are benefits provided to former or inactive employees, their beneficiaries, and covered dependents after employment but before retirement, except for: a) benefits provided through a pension or postretirement benefit plan, b) individual deferred compensation arrangements, c) special or contractual termination benefits, and d) stock compensation plans.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18780-107790<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 712<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6410195&amp;loc=d3e80090-111668<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_PostemploymentBenefitPlansPolicy</td>
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                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
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                    <td>nonnum:textBlockItemType</td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Disclosure of accounting policy for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, basis of assets, depreciation and depletion methods used, including composite deprecation, estimated useful lives, capitalization policy, accounting treatment for costs incurred for repairs and maintenance, capitalized interest and the method it is calculated, disposals and impairments.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18780-107790<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 360<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.13(a))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 13<br><br> -Subparagraph a<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentPolicyTextBlock</td>
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                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Disclosure of accounting policy for costs it has incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18780-107790<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 730<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6420194&amp;loc=d3e21568-108373<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Research and Development<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6523717<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
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                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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                    <td>duration</td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Disclosure of the accounting policy for determining revenue earned from providing cargo and freight related services.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_RevenueRecognitionCargoAndFreightPolicyPolicyTextBlock</td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenueRecognitionPolicyTextBlock">
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Disclosure of accounting policy for revenue recognition. If the entity has different policies for different types of revenue transactions, the policy for each material type of transaction is generally disclosed. If a sales transaction has multiple element arrangements (for example, delivery of multiple products, services or the rights to use assets) the disclosure may indicate the accounting policy for each unit of accounting as well as how units of accounting are determined and valued. The disclosure may encompass important judgment as to appropriateness of principles related to recognition of revenue. The disclosure also may indicate the entity's treatment of any unearned or deferred revenue that arises from the transaction.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18780-107790<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18726-107790<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 13<br><br> -Section B<br><br> -Paragraph Question 1<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 605<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SAB TOPIC 13.B.Q1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012821&amp;loc=d3e214044-122780<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18823-107790<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_RevenueRecognitionPolicyTextBlock</td>
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                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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                    <td><strong> Period Type:</strong></td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 275<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 9<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6927468&amp;loc=d3e6143-108592<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 275<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 8<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6927468&amp;loc=d3e6132-108592<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 275<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6927468&amp;loc=d3e6061-108592<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_UseOfEstimates</td>
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EWOAC">
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          <div style="width: 200px;"><strong>Property and equipment consisted of the following (Details) (USD $)<br></strong></div>
        </th>
        <th class="th">
          <div>Dec. 31, 2014</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013</div>
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        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_PermitOfLandUse', window );">Permit of land use</a></td>
        <td class="nump"><a title="fil_PermitOfLandUse" onclick="toggleNextSibling(this);">$ 458,853</a><span style="display:none;white-space:normal;text-align:left;">fil_PermitOfLandUse</span><span></span></td>
        <td class="nump"><a title="fil_PermitOfLandUse" onclick="toggleNextSibling(this);">$ 460,964</a><span style="display:none;white-space:normal;text-align:left;">fil_PermitOfLandUse</span><span></span></td>
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        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_Building', window );">Building</a></td>
        <td class="nump"><a title="fil_Building" onclick="toggleNextSibling(this);">11,279,704</a><span style="display:none;white-space:normal;text-align:left;">fil_Building</span><span></span></td>
        <td class="nump"><a title="fil_Building" onclick="toggleNextSibling(this);">2,494,623</a><span style="display:none;white-space:normal;text-align:left;">fil_Building</span><span></span></td>
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        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_PlantMachineryAndEquipmentGross', window );">Plant, machinery and equipment</a></td>
        <td class="nump"><a title="fil_PlantMachineryAndEquipmentGross" onclick="toggleNextSibling(this);">28,358,694</a><span style="display:none;white-space:normal;text-align:left;">fil_PlantMachineryAndEquipmentGross</span><span></span></td>
        <td class="nump"><a title="fil_PlantMachineryAndEquipmentGross" onclick="toggleNextSibling(this);">6,671,620</a><span style="display:none;white-space:normal;text-align:left;">fil_PlantMachineryAndEquipmentGross</span><span></span></td>
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        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_MotorVehicleGross', window );">Motor vehicle</a></td>
        <td class="nump"><a title="fil_MotorVehicleGross" onclick="toggleNextSibling(this);">150,976</a><span style="display:none;white-space:normal;text-align:left;">fil_MotorVehicleGross</span><span></span></td>
        <td class="nump"><a title="fil_MotorVehicleGross" onclick="toggleNextSibling(this);">151,670</a><span style="display:none;white-space:normal;text-align:left;">fil_MotorVehicleGross</span><span></span></td>
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        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_OfficeEquipment1', window );">Office equipment</a></td>
        <td class="nump"><a title="fil_OfficeEquipment1" onclick="toggleNextSibling(this);">268,521</a><span style="display:none;white-space:normal;text-align:left;">fil_OfficeEquipment1</span><span></span></td>
        <td class="nump"><a title="fil_OfficeEquipment1" onclick="toggleNextSibling(this);">229,210</a><span style="display:none;white-space:normal;text-align:left;">fil_OfficeEquipment1</span><span></span></td>
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        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_ConstructionInProgress1', window );">Construction in progress</a></td>
        <td class="nump"><a title="fil_ConstructionInProgress1" onclick="toggleNextSibling(this);">5,848</a><span style="display:none;white-space:normal;text-align:left;">fil_ConstructionInProgress1</span><span></span></td>
        <td class="nump"><a title="fil_ConstructionInProgress1" onclick="toggleNextSibling(this);">25,497,600</a><span style="display:none;white-space:normal;text-align:left;">fil_ConstructionInProgress1</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_TotalPropertyAndEquipment', window );">Total Property and Equipment</a></td>
        <td class="nump"><a title="fil_TotalPropertyAndEquipment" onclick="toggleNextSibling(this);">40,522,596</a><span style="display:none;white-space:normal;text-align:left;">fil_TotalPropertyAndEquipment</span><span></span></td>
        <td class="nump"><a title="fil_TotalPropertyAndEquipment" onclick="toggleNextSibling(this);">35,505,687</a><span style="display:none;white-space:normal;text-align:left;">fil_TotalPropertyAndEquipment</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_LessAccumulatedDepreciationDetails', window );">Less: accumulated depreciation details</a></td>
        <td class="num"><a title="fil_LessAccumulatedDepreciationDetails" onclick="toggleNextSibling(this);">(6,640,718)</a><span style="display:none;white-space:normal;text-align:left;">fil_LessAccumulatedDepreciationDetails</span><span></span></td>
        <td class="num"><a title="fil_LessAccumulatedDepreciationDetails" onclick="toggleNextSibling(this);">(5,264,350)</a><span style="display:none;white-space:normal;text-align:left;">fil_LessAccumulatedDepreciationDetails</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_Propertyandequipmentnet1', window );">Property and Equipment, net;</a></td>
        <td class="nump"><a title="fil_Propertyandequipmentnet1" onclick="toggleNextSibling(this);">$ 33,881,878</a><span style="display:none;white-space:normal;text-align:left;">fil_Propertyandequipmentnet1</span><span></span></td>
        <td class="nump"><a title="fil_Propertyandequipmentnet1" onclick="toggleNextSibling(this);">$ 30,241,337</a><span style="display:none;white-space:normal;text-align:left;">fil_Propertyandequipmentnet1</span><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_Building">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount before accumulated depreciation of building structures held for productive use including addition, improvement, or renovation to the structure, including, but not limited to, interior masonry, interior flooring, electrical, and plumbing.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_Building</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_ConstructionInProgress1">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Gross amount, at the balance sheet date, of long-lived assets under construction that include construction costs to date on capital projects that have not been completed and assets being constructed that are not ready to be placed into service.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_ConstructionInProgress1</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_LessAccumulatedDepreciationDetails">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cumulative amount of depreciation, depletion and amortization (related to property, plant and equipment, but not including land) that has been recognized in the income statement.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_LessAccumulatedDepreciationDetails</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_MotorVehicleGross">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of motor vehicle gross as on the date</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_MotorVehicleGross</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_OfficeEquipment1">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Gross amount, at the balance sheet date, of long-lived assets under construction that include construction costs to date on capital projects that have not been completed and assets being constructed that are not ready to be placed into service.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_OfficeEquipment1</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_PermitOfLandUse">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of permit of land use as on the date.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_PermitOfLandUse</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_PlantMachineryAndEquipmentGross">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of plant machinery and equipment gross as on the date.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_PlantMachineryAndEquipmentGross</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_PropertyAndEquipmentConsistedOfTheFollowingAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_PropertyAndEquipmentConsistedOfTheFollowingAbstract</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_Propertyandequipmentnet1">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tangible assets that are held by an entity for use in the production or supply of goods and services, for rental to others, or for administrative purposes and that are expected to provide economic benefit for more than one year; net of accumulated depreciation. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_Propertyandequipmentnet1</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_TotalPropertyAndEquipment">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total Property and Equipment</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_TotalPropertyAndEquipment</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0ELE">
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        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>INVENTORY(Tables)<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2014</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_InventoryTablesAbstract', window );"><strong>INVENTORY (Tables)</strong></a></td>
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      <tr class="ro">
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        <td class="text"><!--egx--><p style='margin:0cm 0cm 0pt'><font lang="EN-US">Inventory consisted of the following:</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0" width="90%" style='width:90%'> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="10%" colspan="2" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">December 31,</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="10%" colspan="2" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">December 31,</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="10%" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">2014</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="10%" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">2013</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Raw materials</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">18,819,570</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">28,259,707</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Work in process</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">-</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">853,602</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Finished goods</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">3,436,330</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">3,590,937</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">22,255,900</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">32,704,246</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Obsolescence reserve</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">(6,934,044</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">)</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">(8,027,126</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">)</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt 9pt'><b><font lang="EN-US">Total Inventory</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">15,321,856</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">24,677,120</font></p></td> <td valign="bottom" width="1%" 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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EME">
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          <div style="width: 200px;"><strong>ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES<br></strong></div>
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        <th class="th" colspan="1">12 Months Ended</th>
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          <div>Dec. 31, 2014</div>
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        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock', window );">ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES</a></td>
        <td class="text"><!--egx--><p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">NOTE 1 &#150; ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES</font></b></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><b><i><font lang="EN-US">Organization and Nature of Operations &#150; </font></i></b><font lang="EN-US">China Pharma Holdings, Inc., a Nevada corporation, owns 100% of Onny Investment Limited (Onny), a British Virgin Islands corporation, which owns 100% of Hainan Helpson Medical &amp; Biotechnology Co., Ltd (Helpson), a company organized under the laws of the People's Republic of China (the PRC). China Pharma Holdings, Inc. and its subsidiaries are referred to herein as the Company.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US" style='background:white'>On December 31, 2012, China Pharma Holdings, Inc consummated a reincorporation merger for the purpose of changing its state of incorporation from Delaware to Nevada pursuant to the terms and conditions of an Agreement and Plan of Merger dated December 27, 2012.&nbsp;&nbsp;The reincorporation merger was approved by stockholders holding the majority of the Company&#146;s outstanding shares of common stock on December 21, 2012.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">The Foreign Investment Industrial Catalogue<i>&nbsp;</i>(the &#147;Catalogue&#148;) jointly issued by China&#146;s Ministry of Commerce and the National Development and Reform Commission (the latest version is the 2012 version, effective January 30, 2012) classified various industries/businesses into three different categories: (i) encouraged for foreign investment; (ii) restricted to foreign investment; and (iii) prohibited from foreign investment. For any industry/business not covered by any of these three categories, they will be deemed industries/businesses permitted for foreign investment. A typical foreign investment ownership restriction in the pharmaceutical industry is that a foreign investment enterprise (the &#147;FIE&#148;) shall not have the whole or majority of its equity interests owned by a foreign owner if the FIE establishes more than 30 branch stores and distributes a variety of brands in those franchise stores, which is not the case for the Company&#146;s business.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Helpson manufactures and markets generic and branded pharmaceutical products as well as biochemical products primarily to hospitals and private retailers located throughout the PRC. The Company believes Helpson&#146;s business is not subject to any ownership restrictions prescribed under the Catalogue. Onny acquired 100% of the ownership in Helpson on May 25, 2005 by entering into an Equity Transfer Agreement with Helpson&#146;s three former shareholders. The transaction was approved by the Commercial Bureau of Hainan Province on June 12, 2005 and Helpson received the Certificate of Approval for Establishing of Enterprises with Foreign Investment in the PRC on the same day and its business license evidencing its WFOE (Wholly Foreign Owned Enterprise) status on June 21, 2005.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">The Company has acquired and continues to acquire well-accepted medical formulas to add to its diverse portfolio of Western and Chinese medicines.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><b><i><font lang="EN-US">Consolidation and Basis of Presentation </font></i></b><font lang="EN-US">&#150; The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and are expressed in United States dollars. The accompanying consolidated financial statements include the accounts and operations of the Company and its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in the consolidation.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Helpson&#146;s functional currency is the Chinese Renminbi. Helpson&#146;s revenue and expenses are translated into United States dollars at the average exchange rate for the period. Assets and liabilities are translated at the exchange rate as of the end of the reporting period. Gains or losses from translating Helpson&#146;s financial statements are included in accumulated other comprehensive income, which is a component of stockholders&#146; equity. Gains and losses arising from transactions denominated in a currency other than the functional currency of the entity that is party to the transaction are included in the results of operations.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><b><i><font lang="EN-US">Accounting Estimates </font></i></b><b><font lang="EN-US">- </font></b><font lang="EN-US">The methodology used to prepare for the Company&#146;s financial statements is in conformity with the accounting principles generally accepted in the United States of America, which requires the management of the Company (&#147;Management&#148;) to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Therefore, actual results could differ from those estimates.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><b><i><font lang="EN-US">Cash and Cash Equivalents </font></i></b><font lang="EN-US">&#150; Cash and cash equivalents include interest bearing and non-interest bearing bank deposits, money market accounts, and short-term banker&#146;s acceptances purchased with maturities of three months or less.</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;&nbsp;&nbsp;</font></p> <p style='margin:0cm 0cm 0pt'><b><i><font lang="EN-US">Trade Accounts Receivable and Allowance for Doubtful Accounts &#150; </font></i></b><font lang="EN-US">Trade accounts receivables are carried at the original invoiced amounts less an allowance for doubtful accounts. The allowances for doubtful accounts are calculated based on a detailed review of certain individual customer accounts and an estimation of the overall economic conditions affecting the Company's customer base. The Company reviews a customer's credit history before extending credit to the customer. If the financial condition of its customers were to deteriorate, resulting in an impairment of their ability to make payments, additions to the allowance would be required. A provision is made against accounts receivable to the extent they are considered unlikely to be collected. It is common practice in the PRC for receivables to extend beyond one year. Customer balances outstanding for more than one year are allowed for at a greater rate when calculating the allowance for doubtful accounts. As of December 31, 2014, the Company had trade accounts receivable amounting to $48,569,986 from sales that occurred more than one year from that date, which the Company believes are collectable.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">During 2014, the Company offered two of its largest customers a discount of 30% for payments for accounts receivable that were older than one year. The amount of the outstanding accounts receivable balance the discount was applied to was approximately $1.8 million. As a result, the Company recognized additional bad debt expense of approximately $0.53 million for the year ended December 31, 2014.&nbsp;&nbsp;During 2013, Management negotiated settlement offers with certain customers with approximately $8.0 million in accounts receivable balances that were greater than one (1) year past due. The offers to these customers were comprised of discounts ranging from 15% to 30% of the total past due balance in exchange for payment in full by December 31, 2013. As a result, the Company was able to collect cash of approximately $5.85 million, and recognized additional bad debt expenses for the negotiated discounts of approximately $2.1 million for the year ended December 31, 2013.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><b><i><font lang="EN-US">Advances to Suppliers and Advances from Customers</font></i></b><font lang="EN-US"> &#150; Common practice in the PRC is to make advances to suppliers for materials and to receive advances from customers for finished products. Advances to suppliers are applied to trade accounts payable when the materials are received. Advances received from customers are applied against trade accounts receivable when finished products are sold.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><b><i><font lang="EN-US">Inventory</font></i></b><font lang="EN-US"> &#150; Inventory is stated at the lower of cost or net realizable value, computed on an average cost basis. We charge inventory obsolescence expense for inventory allowance to write down our inventory to the lower of cost or estimated market value or to completely write off obsolete or excess inventory. Charges to inventory obsolescence expense totaled $2,250,130 and $9,881,711 for the years ended December 31, 2014 and 2013, respectively. The Company recognized an inventory obsolescence reserve of ($1,093,082) and $6,257,142 for the years ended December 31, 2014 and 2013, respectively.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><b><i><font lang="EN-US">Valuation of Long-Lived Assets</font></i></b><font lang="EN-US"> &#150; The carrying values of long-lived assets are reviewed for impairment annually or whenever events or changes in circumstances indicate that the carrying values may not be recoverable. When such an event occurs, the Company projects the undiscounted cash flows to be generated from the use of the asset and its eventual disposition over the remaining life of the asset. If projections indicate that the carrying value of an asset will not be recovered, it is reduced by the estimated excess of the carrying value over the projected discounted cash flows estimated to be generated by the asset. For the years ended December 31, 2014 and 2013, the Company evaluated its long-lived assets and determined that no impairment adjustment was necessary.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><b><i><font lang="EN-US">Property and Equipment</font></i></b><font lang="EN-US"> &#150; Property and equipment are stated at cost. Maintenance and repairs are charged to expenses as incurred and major improvements are capitalized. Gains or losses on sale, trade-in or retirement are included in operations during the period of disposition.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><b><i><font lang="EN-US">Revenue Recognition</font></i></b><font lang="EN-US"> &#150; Revenue is considered earned when the Company obtains persuasive evidence of an arrangement with the customer, when delivery of the products has occurred, when the sales price is fixed or determinable, and when collectability is reasonably assured. Delivery does not occur until products have been shipped to the customer, the risk of loss has transferred to the customer and customer acceptance has been obtained, customer acceptance provisions have lapsed, or the Company obtains objective evidence that the criteria specified in the customer acceptance provisions have been satisfied. The sales price is not considered to be fixed or determinable until all contingencies related to the sale have been resolved.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><b><i><font lang="EN-US">Cost of Revenues</font></i></b><font lang="EN-US"> &#150; Cost of revenues includes wages, materials, handling charges, and other expenses associated with the manufacture and delivery of products.</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;<b><i>Research and Development</i></b> &#150; Research and development expenditures are recorded as expenses in the period in which they occur. Research and development expenses were $2,798,557 and $1,683,244 for the years ended December 31, 2014 and 2013, respectively.&nbsp;</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><b><i><font lang="EN-US">Retirement Benefit Plans</font></i></b><font lang="EN-US"> &#150; The Company is required to make monthly contributions at prescribed rates to various employee retirement benefit plans organized by the provincial governments. The benefit plans of the government assume the retirement benefit obligations of all existing and future retired employees of the Company. The Company contributed $249,921 and $241,384 to retirement benefit plans for the years ended December 31, 2014 and 2013, respectively. Contributions to these plans are charged to expense as incurred.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><b><i><font lang="EN-US">Advertising Costs</font></i></b><font lang="EN-US"> &#150; Advertising costs are expensed when incurred. The Company did not incur any advertising costs for the years ended December 31, 2014 and 2013.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><b><i><font lang="EN-US">Basic and Diluted (Loss) Earnings per Common Share </font></i></b><b><font lang="EN-US">- </font></b><font lang="EN-US">Basic (loss) earnings per common share is computed by dividing net (loss) income by the weighted-average number of common shares outstanding during the period. Diluted (loss) earnings per share is calculated to give effect to potentially issuable dilutive common shares.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">The following table is a presentation of the numerators and denominators used in the calculation of basic and diluted (loss) earnings per share:</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p> <table border="0" cellspacing="0" cellpadding="0" width="100%" style='width:100%'> <tr> <td valign="bottom" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" colspan="6" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">For the Year</font></b></p></td> <td valign="bottom" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" colspan="6" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">Ended December 31,</font></b></p></td> <td valign="bottom" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">2014</font></b></p></td> <td valign="bottom" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">2013</font></b></p></td> <td valign="bottom" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Net loss</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">(26,047,375</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">)</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">(20,008,049</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">)</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Basic weighted-average common shares outstanding</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">43,579,557</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">43,579,557</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Effect of dilutive securities:</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt 9pt'><font lang="EN-US">Warrants</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">-</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">-</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Options</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">-</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">-</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Diluted weighted-average common shares outstanding</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">43,579,557</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">43,579,557</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Basic loss per share</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">(0.60</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">)</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">(0.46</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">)</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Diluted loss per share</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">(0.60</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">)</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">(0.46</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">)</font></p></td></tr></table> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">There were no potential dilutive common shares outstanding during the years ended December 31, 2014 and 2013, respectively.&nbsp;</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><b><i><font lang="EN-US">Credit Risk</font></i></b><font lang="EN-US"> &#150; The carrying amount of accounts receivable included in the balance sheet represents the Company's exposure to credit risk in relation to its financial assets. No other financial assets carries a significant exposure to credit risk. The Company performs ongoing credit evaluations of each customer's financial condition. The Company maintains allowances for doubtful accounts and such allowances in the aggregate have not exceeded Management's estimates.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">The Company has its cash in bank deposits primarily at state owned banks located in the PRC. Historically, deposits in PRC banks have been secured due to the state policy of protecting depositors&#146; interests. The PRC promulgated a new Bankruptcy Law in August 2006, effective June&nbsp;1, 2007, which contains provisions for the implementation of measures for the bankruptcy of PRC banks. In the event that bankruptcy laws are enacted for banks in the PRC, the Company&#146;s deposits may be at a higher risk of loss.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><b><i><font lang="EN-US">Interest Rate Risk</font></i></b><font lang="EN-US"> &#150; The Company is exposed to the risk arising from changing interest rates, which may affect the ability of repayment of existing debts and viability of securing future debt instruments within the PRC.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><b><i><font lang="EN-US">Recent Accounting Pronouncements</font></i></b></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">In May 2014, the FASB issued ASU 2014-09,&nbsp;<i>"Revenue from Contracts with Customers"</i>&nbsp;(ASU 2014-09), which contains new accounting literature relating to how and when a company recognizes revenue. Under ASU 2014-09, a company recognizes revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods and services. ASU 2014-09 will be effective for the Company&#146;s fiscal year beginning January 1, 2017, with early application not permitted. The Company is in the process of determining what impact, if any, the adoption of ASU 2014-09 will have on its financial statements and related disclosures. The standard permits the use of either the full retrospective or modified retrospective transition method. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting.</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;&nbsp;&nbsp;</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">In June 2014, the FASB issued ASU 2014-12,&nbsp;<i>Compensation-Stock Compensation (Topic 718)</i>. The ASU clarifies how entities should treat performance targets that can be achieved after the requisite service period of a share-based payment award. The accounting standard is effective for interim and annual periods beginning December 15, 2015.&nbsp;&nbsp;The Company does not anticipate the adoption of ASU 2014-12 will have a material impact on its financial statements and related disclosures.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US" style='background:white'>Other accounting standards that have been issued by the FASB or other standards-setting bodies are not expected to have a material effect on the Company&#146;s financial position, result of operations or cash flows.</font></p><span></span></td>
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                <p>The entire disclosure for the organization, consolidation and basis of presentation of financial statements disclosure, and significant accounting policies of the reporting entity. May be provided in more than one note to the financial statements, as long as users are provided with an understanding of (1) the significant judgments and assumptions made by an enterprise in determining whether it must consolidate a VIE and/or disclose information about its involvement with a VIE, (2) the nature of restrictions on a consolidated VIE's assets reported by an enterprise in its statement of financial position, including the carrying amounts of such assets, (3) the nature of, and changes in, the risks associated with an enterprise's involvement with the VIE, and (4) how an enterprise's involvement with the VIE affects the enterprise's financial position, financial performance, and cash flows.  Describes procedure if disclosures are provided in more than one note to the financial statements.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 275<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6927468&amp;loc=d3e6003-108592<br><br><br><br></p>
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EHIAE">
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          <div style="width: 200px;"><strong>CONSOLIDATED BALANCE SHEETS PARENTHETICALS (USD $)<br></strong></div>
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          <div>Dec. 31, 2014</div>
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          <div>Dec. 31, 2013</div>
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        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityNumberOfSharesParValueAndOtherDisclosuresAbstract', window );"><strong>Stockholders equity number of shares par value and other disclosures</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent', window );">Allowance for doubtful accounts on trade accounts receivables</a></td>
        <td class="nump"><a title="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent" onclick="toggleNextSibling(this);">$ 33,350,109</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent</span><span></span></td>
        <td class="nump"><a title="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent" onclick="toggleNextSibling(this);">$ 13,301,622</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent</span><span></span></td>
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        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_AllowanceForDoubtfulAccountsOnOtherReceivables', window );">Allowance for doubtful accounts on other receivables</a></td>
        <td class="nump"><a title="fil_AllowanceForDoubtfulAccountsOnOtherReceivables" onclick="toggleNextSibling(this);">60,325</a><span style="display:none;white-space:normal;text-align:left;">fil_AllowanceForDoubtfulAccountsOnOtherReceivables</span><span></span></td>
        <td class="nump"><a title="fil_AllowanceForDoubtfulAccountsOnOtherReceivables" onclick="toggleNextSibling(this);">43,064</a><span style="display:none;white-space:normal;text-align:left;">fil_AllowanceForDoubtfulAccountsOnOtherReceivables</span><span></span></td>
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        <td class="nump"><a title="fil_AllowanceForObsolescenceOfInventory" onclick="toggleNextSibling(this);">6,934,044</a><span style="display:none;white-space:normal;text-align:left;">fil_AllowanceForObsolescenceOfInventory</span><span></span></td>
        <td class="nump"><a title="fil_AllowanceForObsolescenceOfInventory" onclick="toggleNextSibling(this);">8,027,126</a><span style="display:none;white-space:normal;text-align:left;">fil_AllowanceForObsolescenceOfInventory</span><span></span></td>
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        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment', window );">Accumulated depreciation on property and equipment</a></td>
        <td class="nump"><a title="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" onclick="toggleNextSibling(this);">6,640,718</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment</span><span></span></td>
        <td class="nump"><a title="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" onclick="toggleNextSibling(this);">5,264,350</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization', window );">Accumulated amortization on intangible assets</a></td>
        <td class="nump"><a title="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" onclick="toggleNextSibling(this);">$ 4,186,273</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization</span><span></span></td>
        <td class="nump"><a title="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" onclick="toggleNextSibling(this);">$ 3,812,992</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockParOrStatedValuePerShare', window );">Preferred Stock, par or stated value</a></td>
        <td class="nump"><a title="us-gaap_PreferredStockParOrStatedValuePerShare" onclick="toggleNextSibling(this);">$ 0.001</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_PreferredStockParOrStatedValuePerShare</span><span></span></td>
        <td class="nump"><a title="us-gaap_PreferredStockParOrStatedValuePerShare" onclick="toggleNextSibling(this);">$ 0.001</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_PreferredStockParOrStatedValuePerShare</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesAuthorized', window );">Preferred Stock, shares authorized</a></td>
        <td class="nump"><a title="us-gaap_PreferredStockSharesAuthorized" onclick="toggleNextSibling(this);">5,000,000</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_PreferredStockSharesAuthorized</span><span></span></td>
        <td class="nump"><a title="us-gaap_PreferredStockSharesAuthorized" onclick="toggleNextSibling(this);">5,000,000</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_PreferredStockSharesAuthorized</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesIssued', window );">Preferred Stock, shares issued</a></td>
        <td class="nump"><a title="us-gaap_PreferredStockSharesIssued" onclick="toggleNextSibling(this);">0</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_PreferredStockSharesIssued</span><span></span></td>
        <td class="nump"><a title="us-gaap_PreferredStockSharesIssued" onclick="toggleNextSibling(this);">0</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_PreferredStockSharesIssued</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesOutstanding', window );">Preferred Stock, shares outstanding</a></td>
        <td class="nump"><a title="us-gaap_PreferredStockSharesOutstanding" onclick="toggleNextSibling(this);">0</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_PreferredStockSharesOutstanding</span><span></span></td>
        <td class="nump"><a title="us-gaap_PreferredStockSharesOutstanding" onclick="toggleNextSibling(this);">0</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_PreferredStockSharesOutstanding</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockParOrStatedValuePerShare', window );">Common Stock, par or stated value</a></td>
        <td class="nump"><a title="us-gaap_CommonStockParOrStatedValuePerShare" onclick="toggleNextSibling(this);">$ 0.001</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_CommonStockParOrStatedValuePerShare</span><span></span></td>
        <td class="nump"><a title="us-gaap_CommonStockParOrStatedValuePerShare" onclick="toggleNextSibling(this);">$ 0.001</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_CommonStockParOrStatedValuePerShare</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesAuthorized', window );">Common Stock, shares authorized</a></td>
        <td class="nump"><a title="us-gaap_CommonStockSharesAuthorized" onclick="toggleNextSibling(this);">95,000,000</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_CommonStockSharesAuthorized</span><span></span></td>
        <td class="nump"><a title="us-gaap_CommonStockSharesAuthorized" onclick="toggleNextSibling(this);">95,000,000</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_CommonStockSharesAuthorized</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesIssued', window );">Common Stock, shares issued</a></td>
        <td class="nump"><a title="us-gaap_CommonStockSharesIssued" onclick="toggleNextSibling(this);">43,579,557</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_CommonStockSharesIssued</span><span></span></td>
        <td class="nump"><a title="us-gaap_CommonStockSharesIssued" onclick="toggleNextSibling(this);">43,579,557</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_CommonStockSharesIssued</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Common Stock, shares outstanding</a></td>
        <td class="nump"><a title="us-gaap_CommonStockSharesOutstanding" onclick="toggleNextSibling(this);">43,579,557</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_CommonStockSharesOutstanding</span><span></span></td>
        <td class="nump"><a title="us-gaap_CommonStockSharesOutstanding" onclick="toggleNextSibling(this);">43,579,557</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_CommonStockSharesOutstanding</span><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_AllowanceForDoubtfulAccountsOnOtherReceivables">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>A valuation allowance for other receivables due to an Entity within one year (or the normal operating cycle, whichever is longer) that are expected to be uncollectible</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_AllowanceForDoubtfulAccountsOnOtherReceivables</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_AllowanceForObsolescenceOfInventory">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>No authoritative reference available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_AllowanceForObsolescenceOfInventory</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of accumulated depreciation, depletion and amortization for physical assets used in the normal conduct of business to produce goods and services.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 360<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.14)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 14<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>A valuation allowance for trade and other receivables due to an Entity within one year (or the normal operating cycle, whichever is longer) that are expected to be uncollectible.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 4<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 310<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=35738203&amp;loc=d3e5074-111524<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.4)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockParOrStatedValuePerShare">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Face amount or stated value per share of common stock.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 30<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_CommonStockParOrStatedValuePerShare</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesAuthorized">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The maximum number of common shares permitted to be issued by an entity's charter and bylaws.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 30<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_CommonStockSharesAuthorized</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesIssued">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 30<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_CommonStockSharesIssued</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 30<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Accumulated amount of amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 350<br><br> -SubTopic 30<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (a)(1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<br><br><br><br></p>
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                    <td><strong> Name:</strong></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Face amount or stated value per share of preferred stock nonredeemable or redeemable solely at the option of the issuer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29<br><br> -Article 5<br><br><br><br></p>
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                    <td><strong> Name:</strong></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                  <tr>
                    <td><strong> Name:</strong></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
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                    <td><strong> Name:</strong></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29<br><br> -Article 5<br><br><br><br></p>
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EME">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>INCOME TAXES<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
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      <tr>
        <th class="th">
          <div>Dec. 31, 2014</div>
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        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureAbstract', window );"><strong>INCOME TAXES</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureTextBlock', window );">INCOME TAXES</a></td>
        <td class="text"><!--egx--><p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">NOTE 11 - INCOME TAXES</font></b></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Deferred income tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax laws or rates is recognized in income in the period that includes the enactment date.</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Undistributed earnings of Helpson, the Company&#146;s foreign subsidiary, since its acquisition, amounted to approximately $68.3 million as of December 31, 2014. Those earnings, as well as the investment in Helpson of approximately $23.3 million, are considered to be indefinitely reinvested and, accordingly, no U.S. federal or state income taxes have been provided thereon. Upon distribution of those earnings in the form of dividends or otherwise, the Company would be subject to U.S. federal and state income taxes (net of an adjustment for foreign tax credits) and withholding taxes payable to the PRC. Determination of the amount of unrecognized deferred U.S. income tax liability is not practical because of the complexities associated with its hypothetical calculation; however, unrecognized foreign tax credits may be available to reduce a portion of the U.S. tax liability.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Liabilities are established for uncertain tax positions expected to be taken in income tax return when such positions are judged to meet the &#147;more-likely-than-not&#148; threshold based on the technical merits of the positions. Estimated interest and penalties related to uncertain tax positions are included as a component of other expenses. Through December 31, 2014, the Company has not identified any uncertain tax positions that it has taken. U.S. income tax returns for the years ended December 31, 2011 through December 31, 2014 and the Chinese income tax return for the year ended December 31, 2014 are open for possible examination.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">On March 16, 2007, the National People&#146;s Congress of China passed the Enterprise Income Tax Law (EIT Law) and on December 6, 2007, the State Council of China issued the Implementation Regulations for the EIT Law which took effect on January&nbsp;1, 2008. The EIT Law and Implementation Regulations Rules impose a unified EIT of 25% on all domestic-invested enterprises and Foreign Invested Entities, or FIEs, unless they qualify under certain limited exceptions.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">The Company is located in a special region, which had a 15% corporate income tax rate before the new EIT Law. The new EIT Law abolished the preferential corporate income tax rate in the special region. The Company transitioned to the new 25% tax rate over a five year period which began on January 1, 2008. During 2010, the Company applied for and received a favorable tax rate of 15% for fiscal 2011 through 2013 due to its status in the PRC as a high technology enterprise. In 2013, the Company again applied for and received the same favorable tax rate for 2014 to 2016.&nbsp;&nbsp;Under the current tax law in the PRC, the Company is and will be subject to the following enterprise income tax rates:</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0" width="30%" style='width:30%'> <tr> <td valign="top" width="13%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="top" width="3%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:3%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="top" width="15%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:15%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">Enterprise Income </font></b></p></td></tr> <tr> <td valign="top" width="13%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">Year</font></b></p></td> <td valign="top" width="3%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:3%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="top" width="15%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:15%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">Tax Rate</font></b></p></td></tr> <tr> <td valign="top" width="13%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:13%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">2013</font></p></td> <td valign="top" width="3%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:3%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="top" width="15%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:15%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">15%</font></p></td></tr> <tr> <td valign="top" width="13%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:13%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">2014</font></p></td> <td valign="top" width="3%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:3%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="top" width="15%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:15%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">15%</font></p></td></tr> <tr> <td valign="top" width="13%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:13%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">2015</font></p></td> <td valign="top" width="3%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:3%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="top" width="15%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:15%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">15%</font></p></td></tr> <tr> <td valign="top" width="13%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:13%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">2016</font></p></td> <td valign="top" width="3%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:3%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="top" width="15%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:15%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">15%</font></p></td></tr> <tr> <td valign="top" width="13%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:13%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">2017</font></p></td> <td valign="top" width="3%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:3%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="top" width="15%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:15%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">25%</font></p></td></tr> <tr> <td valign="top" width="13%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:13%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">Thereafter</font></p></td> <td valign="top" width="3%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:3%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="top" width="15%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:15%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">25%</font></p></td></tr></table></div> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">The provision for income taxes consisted of the following:</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0" width="90%" style='width:90%'> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="22%" colspan="6" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:22%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">Year Ended December 31,</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="10%" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">2014</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="10%" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">2013</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Current</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">-</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">-</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Deferred</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">77,042</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">1,061,413</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">Total income tax expense (benefit)</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">77,042</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">1,061,413</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr></table></div> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Following is a reconciliation of income taxes calculated at the federal statutory rates to the provision for income taxes:</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0" width="90%" style='width:90%'> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="22%" colspan="6" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:22%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">Years Ended December 31,</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="10%" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">2014</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="10%" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">2013</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">(Benefit) tax at statutory rate of 25%</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">(6,511,844</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">)</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">(4,736,660</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">)</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Stock based compensation from current and prior years</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">-</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">8,534</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Effect of tax holiday</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">2,563,701</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">1,834,517</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Other, primarily the difference in U.S. tax rates</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">7,815</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">-</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Change in valuation allowance</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">4,017,370</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">3,955,022</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">Income tax expense</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">77,042</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">1,061,413</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr></table></div> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">The effect of the tax holiday amounted to a change in the tax expense (benefit) of $2,559,466 and $1,834,517 for the years ended December 31, 2014 and 2013, which was equivalent to basic and diluted earnings per share of ($0.09) and ($0.04) per share for the years ended December 31, 2014 and 2013, respectively. The temporary differences which give rise to the deferred income tax assets and liability are as follows:</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0" width="90%" style='width:90%'> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="22%" colspan="6" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:22%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">December 31,</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="10%" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">2014</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="10%" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">2013</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">Deferred income tax assets:</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="10%" colspan="2" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="10%" colspan="2" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Allowance for doubtful trade receivables</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">5,002,516</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">1,995,243</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Allowance for doubtful other receivables</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">9,049</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">6,460</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Inventory obsolescence reserve</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">1,040,107</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">1,501,687</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Expenses not deductible in current year</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">31,000</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">31,143</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">PRC net operating loss carry forward</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">1,688,417</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">328,643</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">U.S. net operating loss carry forward</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">1,181,679</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">1,052,784</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Total deferred income tax assets</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">8,952,768</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">4,915,960</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Valuation allowance</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">(8,952,768</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">)</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">(4,915,960</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">)</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt 9pt'><font lang="EN-US">Net deferred income tax asset</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">-</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">-</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">Deferred income tax liability:</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Intangible assets</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">252,707</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">176,414</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr></table></div> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">As of December 31, 2014, the Company had net operating loss carryforwards for PRC tax purposes of approximately $11.3 million which are available to offset any future taxable income through 2019. The Company also has net operating losses for United States federal income tax purposes of approximately $3.5 million which are available to offset future taxable income, if any, through 2034.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">In assessing the realizability of deferred tax assets, Management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized.&nbsp;&nbsp;The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those differences become deductible or tax loss carry forwards are utilized.&nbsp;&nbsp;Management considers projected future taxable income and tax planning strategies in making this assessment.&nbsp;&nbsp;Based upon an assessment of the level of historical taxable income and projections for future taxable income over the periods on which the deferred tax assets are deductible or can be utilized, Management believes it is not likely for the Company to realize all benefits of the deferred tax assets as of December 31, 2014 and 2013.&nbsp;&nbsp;Therefore, the Company provided for a valuation allowance against its deferred tax assets of $8,952,768 and $4,915,960 as of December 31, 2014 and 2013, respectively.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">The Company also incurred various other taxes, comprised primarily of business taxes, value-added taxes, urban construction taxes, education surcharges and others. Any unpaid amounts are reflected on the balance sheets as accrued taxes payable.</font></p><span></span></td>
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        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityPublicFloat', window );">Entity Public Float</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump"><a title="dei_EntityPublicFloat" onclick="toggleNextSibling(this);">$ 9,443,423</a><span style="display:none;white-space:normal;text-align:left;">dei_EntityPublicFloat</span><span></span></td>
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    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>If the value is true, then the document is an amendment to previously-filed/accepted document.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">dei_AmendmentFlag</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:booleanItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CurrentFiscalYearEndDate">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>End date of current fiscal year in the format --MM-DD.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">dei_CurrentFiscalYearEndDate</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:gMonthDayItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentFiscalPeriodFocus">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">dei_DocumentFiscalPeriodFocus</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>dei:fiscalPeriodItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentFiscalYearFocus">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">dei_DocumentFiscalYearFocus</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:gYearItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:dateItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other".</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">dei_DocumentType</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>dei:submissionTypeItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation 12B<br><br> -Number 240<br><br> -Section 12b<br><br> -Subsection 1<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>dei:centralIndexKeyItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCommonStockSharesOutstanding">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">dei_EntityCommonStockSharesOutstanding</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCurrentReportingStatus">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">dei_EntityCurrentReportingStatus</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>dei:yesNoItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFilerCategory">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">dei_EntityFilerCategory</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>dei:filerCategoryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityPublicFloat">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>State aggregate market value of voting and non-voting common equity held by non-affiliates computed by reference to price at which the common equity was last sold, or average bid and asked price of such common equity, as of the last business day of registrant's most recently completed second fiscal quarter. The public float should be reported on the cover page of the registrants form 10K.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">dei_EntityPublicFloat</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation 12B<br><br> -Number 240<br><br> -Section 12b<br><br> -Subsection 1<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">dei_EntityRegistrantName</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:normalizedStringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityVoluntaryFilers">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Indicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">dei_EntityVoluntaryFilers</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>dei:yesNoItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityWellKnownSeasonedIssuer">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Indicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A.</p>
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                <p>No definition available.</p>
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                <p>Trading symbol of an instrument as listed on an exchange.</p>
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                <p>No definition available.</p>
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EME">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>FAIR VALUE MEASUREMENTS<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2014</div>
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        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueDisclosuresAbstract', window );"><strong>FAIR VALUE MEASUREMENTS</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueMeasurementInputsDisclosureTextBlock', window );">FAIR VALUE MEASUREMENTS</a></td>
        <td class="text"><!--egx--><p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">NOTE 12 &#150; FAIR VALUE MEASUREMENTS</font></b></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. To measure fair value, a hierarchy has been established which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs. This hierarchy uses three levels of inputs to measure the fair value of assets and liabilities as follows: Level 1 &#150; Quoted prices in active markets for identical assets or liabilities. Level 2 &#150; Observable inputs other than Level 1 including quoted prices for similar assets or liabilities, quoted prices in less active markets, or other observable inputs that can be corroborated by observable market data. Level 3 &#150; Unobservable inputs supported by little or no market activity for financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">The Company uses fair value to measure the derivative warrant liability on a recurring basis because fair value is the primary measure for accounting. The Company also uses fair value to measure the value of the banker&#146;s acceptance notes it holds.&nbsp;&nbsp;The Company values its derivative warrants using a valuation method explained above.&nbsp;&nbsp;The banker&#146;s acceptance notes are recorded at cost which approximates fair value.&nbsp;&nbsp;The Company held the following assets and liabilities recorded at fair value as of December 31, 2014 and 2013:</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p> <table border="0" cellspacing="0" cellpadding="0" width="100%" style='width:100%'> <tr> <td valign="bottom" width="40%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:40%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="13%" colspan="2" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="43%" colspan="10" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:43%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">Fair Value Measurements at</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="40%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:40%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="13%" colspan="2" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="43%" colspan="10" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:43%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">Reporting Date Using</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="40%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:40%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">Description</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="13%" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">December 31, 2014</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="13%" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">Level 1</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="13%" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">Level 2</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="13%" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">Level 3</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td></tr> <tr> <td valign="bottom" width="40%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:40%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Banker's acceptance notes</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="12%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:12%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">458,233</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="12%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:12%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">-</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="12%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:12%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">458,233</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="12%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:12%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">-</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="40%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:40%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Total</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="12%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">458,233</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="12%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">-</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="12%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">458,233</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="12%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">-</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="40%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:40%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="12%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="12%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="12%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="12%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="40%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:40%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="12%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="31%" colspan="10" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:31%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">Fair Value Measurements at</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="40%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:40%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="12%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="31%" colspan="10" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:31%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">Reporting Date Using</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="40%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:40%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">Description</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="13%" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">December 31, 2013</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="13%" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">Level 1</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="13%" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">Level 2</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="13%" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">Level 3</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td></tr> <tr> <td valign="bottom" width="40%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:40%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Banker's acceptance notes</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="12%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:12%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">336,003</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="12%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:12%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">-</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="12%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:12%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">336,003</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="12%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:12%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">-</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="40%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:40%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Total</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="12%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">336,003</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="12%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">-</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="12%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">336,003</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="12%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:12%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">-</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr></table><span></span></td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure of the fair value measurement of assets and liabilities, which includes financial instruments measured at fair value that are classified in shareholders' equity, which may be measured on a recurring or nonrecurring basis.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 820<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19279-110258<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 820<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19190-110258<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 820<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19207-110258<br><br><br><br></p>
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EL6AE">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="2">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2014</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenuesAbstract', window );"><strong>REVENUES</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Revenue</a></td>
        <td class="nump"><a title="us-gaap_Revenues" onclick="toggleNextSibling(this);">$ 24,927,707</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_Revenues</span><span></span></td>
        <td class="nump"><a title="us-gaap_Revenues" onclick="toggleNextSibling(this);">$ 32,806,678</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_Revenues</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CostOfRevenue', window );">Cost of revenue</a></td>
        <td class="nump"><a title="us-gaap_CostOfRevenue" onclick="toggleNextSibling(this);">17,215,576</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_CostOfRevenue</span><span></span></td>
        <td class="nump"><a title="us-gaap_CostOfRevenue" onclick="toggleNextSibling(this);">23,405,886</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_CostOfRevenue</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryWriteDown', window );">Inventory obsolescence</a></td>
        <td class="nump"><a title="us-gaap_InventoryWriteDown" onclick="toggleNextSibling(this);">2,250,130</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_InventoryWriteDown</span><span></span></td>
        <td class="nump"><a title="us-gaap_InventoryWriteDown" onclick="toggleNextSibling(this);">9,881,711</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_InventoryWriteDown</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GrossProfit', window );">Gross profit (loss)</a></td>
        <td class="nump"><a title="us-gaap_GrossProfit" onclick="toggleNextSibling(this);">5,462,001</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_GrossProfit</span><span></span></td>
        <td class="num"><a title="us-gaap_GrossProfit" onclick="toggleNextSibling(this);">(480,919)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_GrossProfit</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingExpensesAbstract', window );"><strong>Operating expenses:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SellingExpense', window );">Selling expenses</a></td>
        <td class="nump"><a title="us-gaap_SellingExpense" onclick="toggleNextSibling(this);">3,346,511</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_SellingExpense</span><span></span></td>
        <td class="nump"><a title="us-gaap_SellingExpense" onclick="toggleNextSibling(this);">3,284,905</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_SellingExpense</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GeneralAndAdministrativeExpense', window );">General and administrative expenses</a></td>
        <td class="nump"><a title="us-gaap_GeneralAndAdministrativeExpense" onclick="toggleNextSibling(this);">1,716,760</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_GeneralAndAdministrativeExpense</span><span></span></td>
        <td class="nump"><a title="us-gaap_GeneralAndAdministrativeExpense" onclick="toggleNextSibling(this);">2,404,338</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_GeneralAndAdministrativeExpense</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ResearchAndDevelopmentExpense', window );">Research and development expenses</a></td>
        <td class="nump"><a title="us-gaap_ResearchAndDevelopmentExpense" onclick="toggleNextSibling(this);">2,798,557</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ResearchAndDevelopmentExpense</span><span></span></td>
        <td class="nump"><a title="us-gaap_ResearchAndDevelopmentExpense" onclick="toggleNextSibling(this);">1,683,244</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ResearchAndDevelopmentExpense</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProvisionForDoubtfulAccounts', window );">Bad debt expense</a></td>
        <td class="nump"><a title="us-gaap_ProvisionForDoubtfulAccounts" onclick="toggleNextSibling(this);">20,643,035</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ProvisionForDoubtfulAccounts</span><span></span></td>
        <td class="nump"><a title="us-gaap_ProvisionForDoubtfulAccounts" onclick="toggleNextSibling(this);">10,752,991</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ProvisionForDoubtfulAccounts</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_LossesFromNaturalDisaster', window );">Losses from natural disaster</a></td>
        <td class="nump"><a title="fil_LossesFromNaturalDisaster" onclick="toggleNextSibling(this);">2,276,519</a><span style="display:none;white-space:normal;text-align:left;">fil_LossesFromNaturalDisaster</span><span></span></td>
        <td class="nump"><a title="fil_LossesFromNaturalDisaster" onclick="toggleNextSibling(this);">0</a><span style="display:none;white-space:normal;text-align:left;">fil_LossesFromNaturalDisaster</span><span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingExpenses', window );">Total operating expenses</a></td>
        <td class="nump"><a title="us-gaap_OperatingExpenses" onclick="toggleNextSibling(this);">30,781,382</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_OperatingExpenses</span><span></span></td>
        <td class="nump"><a title="us-gaap_OperatingExpenses" onclick="toggleNextSibling(this);">18,125,478</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_OperatingExpenses</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_SubsidyIncome', window );">Subsidy income</a></td>
        <td class="nump"><a title="fil_SubsidyIncome" onclick="toggleNextSibling(this);">65,113</a><span style="display:none;white-space:normal;text-align:left;">fil_SubsidyIncome</span><span></span></td>
        <td class="nump"><a title="fil_SubsidyIncome" onclick="toggleNextSibling(this);">0</a><span style="display:none;white-space:normal;text-align:left;">fil_SubsidyIncome</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingIncomeLoss', window );">Loss from operations</a></td>
        <td class="num"><a title="us-gaap_OperatingIncomeLoss" onclick="toggleNextSibling(this);">(25,254,268)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_OperatingIncomeLoss</span><span></span></td>
        <td class="num"><a title="us-gaap_OperatingIncomeLoss" onclick="toggleNextSibling(this);">(18,606,397)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_OperatingIncomeLoss</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherIncomeAndExpensesAbstract', window );"><strong>Other income (expense):</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentIncomeInterest', window );">Interest income</a></td>
        <td class="nump"><a title="us-gaap_InvestmentIncomeInterest" onclick="toggleNextSibling(this);">69,739</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_InvestmentIncomeInterest</span><span></span></td>
        <td class="nump"><a title="us-gaap_InvestmentIncomeInterest" onclick="toggleNextSibling(this);">8,457</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_InvestmentIncomeInterest</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestExpense', window );">Interest expense</a></td>
        <td class="num"><a title="us-gaap_InterestExpense" onclick="toggleNextSibling(this);">(785,804)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_InterestExpense</span><span></span></td>
        <td class="num"><a title="us-gaap_InterestExpense" onclick="toggleNextSibling(this);">(348,696)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_InterestExpense</span><span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherExpenses', window );">Net other expense</a></td>
        <td class="num"><a title="us-gaap_OtherExpenses" onclick="toggleNextSibling(this);">(716,065)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_OtherExpenses</span><span></span></td>
        <td class="num"><a title="us-gaap_OtherExpenses" onclick="toggleNextSibling(this);">(340,239)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_OtherExpenses</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest', window );">Loss before income taxes</a></td>
        <td class="num"><a title="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" onclick="toggleNextSibling(this);">(25,970,333)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest</span><span></span></td>
        <td class="num"><a title="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" onclick="toggleNextSibling(this);">(18,946,636)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">Income tax expense</a></td>
        <td class="num"><a title="us-gaap_IncomeTaxExpenseBenefit" onclick="toggleNextSibling(this);">(77,042)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_IncomeTaxExpenseBenefit</span><span></span></td>
        <td class="num"><a title="us-gaap_IncomeTaxExpenseBenefit" onclick="toggleNextSibling(this);">(1,061,413)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_IncomeTaxExpenseBenefit</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net loss</a></td>
        <td class="num"><a title="us-gaap_ProfitLoss" onclick="toggleNextSibling(this);">(26,047,375)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ProfitLoss</span><span></span></td>
        <td class="num"><a title="us-gaap_ProfitLoss" onclick="toggleNextSibling(this);">(20,008,049)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ProfitLoss</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax', window );">Other comprehensive income (loss) - foreign currency translation adjustment</a></td>
        <td class="num"><a title="us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax" onclick="toggleNextSibling(this);">(643,221)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax</span><span></span></td>
        <td class="nump"><a title="us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax" onclick="toggleNextSibling(this);">4,435,923</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossNetOfTax', window );">Comprehensive loss</a></td>
        <td class="num"><a title="us-gaap_OtherComprehensiveIncomeLossNetOfTax" onclick="toggleNextSibling(this);">$ (26,690,596)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_OtherComprehensiveIncomeLossNetOfTax</span><span></span></td>
        <td class="num"><a title="us-gaap_OtherComprehensiveIncomeLossNetOfTax" onclick="toggleNextSibling(this);">$ (15,572,126)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_OtherComprehensiveIncomeLossNetOfTax</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareAbstract', window );"><strong>Loss per share:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasic', window );">Basic</a></td>
        <td class="num"><a title="us-gaap_EarningsPerShareBasic" onclick="toggleNextSibling(this);">$ (0.60)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_EarningsPerShareBasic</span><span></span></td>
        <td class="num"><a title="us-gaap_EarningsPerShareBasic" onclick="toggleNextSibling(this);">$ (0.46)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_EarningsPerShareBasic</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareDiluted', window );">Diluted</a></td>
        <td class="num"><a title="us-gaap_EarningsPerShareDiluted" onclick="toggleNextSibling(this);">$ (0.60)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_EarningsPerShareDiluted</span><span></span></td>
        <td class="num"><a title="us-gaap_EarningsPerShareDiluted" onclick="toggleNextSibling(this);">$ (0.46)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_EarningsPerShareDiluted</span><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_LossesFromNaturalDisaster">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Losses from natural disaster</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_LossesFromNaturalDisaster</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_SubsidyIncome">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Subsidy income</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_SubsidyIncome</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CostOfRevenue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate cost of goods produced and sold and services rendered during the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.2)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 2<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_CostOfRevenue</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_EarningsPerShareAbstract</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasic">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 52<br><br> -URI http://asc.fasb.org/extlink&amp;oid=32703322&amp;loc=d3e4984-109258<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.21)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.19)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.9-04.23)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 18<br><br> -Article 7<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 20<br><br> -Article 5<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 21<br><br> -Article 9<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_EarningsPerShareBasic</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareDiluted">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.21)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 18<br><br> -Article 7<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 20<br><br> -Article 5<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 21<br><br> -Article 9<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_EarningsPerShareDiluted</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GeneralAndAdministrativeExpense">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.4)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_GeneralAndAdministrativeExpense</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GrossProfit">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.1,2)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_GrossProfit</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 940<br><br> -SubTopic 20<br><br> -Section 25<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=35710027&amp;loc=d3e41242-110953<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 10<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxExpenseBenefit">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(h))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Paragraph h<br><br> -Article 4<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Income Tax Expense (or Benefit)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6515339<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 9<br><br> -Subparagraph (a),(b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_IncomeTaxExpenseBenefit</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestExpense">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of the cost of borrowed funds accounted for as interest expense.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 835<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6450988&amp;loc=d3e26243-108391<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.9-04.9)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 9<br><br> -Article 9<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_InterestExpense</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryWriteDown">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Charge to cost of goods sold that represents the reduction of the carrying amount of inventory, generally attributable to obsolescence or market conditions.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.2)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 330<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28360613&amp;loc=d3e4542-108314<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_InventoryWriteDown</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentIncomeInterest">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 7<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.7(b))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_InvestmentIncomeInterest</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingExpenses">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_OperatingExpenses</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingExpensesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_OperatingExpensesAbstract</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingIncomeLoss">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net result for the period of deducting operating expenses from operating revenues.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_OperatingIncomeLoss</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount after tax and reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 10A<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669646-108580<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 830<br><br> -SubTopic 30<br><br> -Section 45<br><br> -Paragraph 20<br><br> -Subparagraph (b,c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6915805&amp;loc=d3e32211-110900<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherComprehensiveIncomeLossNetOfTax">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount after tax and reclassification adjustments of other comprehensive income (loss).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 1A<br><br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669619-108580<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeLossNetOfTax</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherExpenses">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>This element represents a sum total of expenses not separately reflected on the income statement for the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 7<br><br> -Article 7<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.7)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.4,6)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_OtherExpenses</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherIncomeAndExpensesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_OtherIncomeAndExpensesAbstract</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProfitLoss">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4K<br><br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4591552-111686<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 19<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4569616-111683<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1A<br><br> -Subparagraph (a),(c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=SL4573702-111684<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4J<br><br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4591551-111686<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_ProfitLoss</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProvisionForDoubtfulAccounts">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of expense related to write-down of receivables to the amount expected to be collected. Includes, but is not limited to, accounts receivable and notes receivable.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.5)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 5<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_ProvisionForDoubtfulAccounts</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 985<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6501960&amp;loc=d3e128462-111756<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 730<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6420194&amp;loc=d3e21568-108373<br><br><br><br></p>
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                <p>Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 1<br><br> -Article 5<br><br><br><br></p>
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                <p>Expenses recognized in the period that are directly related to the selling and distribution of products or services.</p>
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                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.4)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p>
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EME">
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          <div style="width: 200px;"><strong>INTANGIBLE ASSETS<br></strong></div>
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          <div>Dec. 31, 2014</div>
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        <td class="text"><!--egx--><p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">NOTE 6 - INTANGIBLE ASSETS</font></b></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Intangible assets represent the cost of medical formulas approved for production by the CFDA. The Company did not obtain CFDA production approval for any medical formula during the year ended December 31, 2014 and 2013 and no costs were reclassified from advances to intangible assets in 2014 and 2013, respectively.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Approved medical formulas are amortized from the date CFDA approval is obtained over their individually identifiable estimated useful life, which range from ten to thirteen years.&nbsp;&nbsp;It is at least reasonably possible that a change in the estimated useful lives of the medical formulas could occur in the near term due to changes in the demand for the drugs and medicines produced from these medical formulas. Amortization expense relating to intangible assets was $386,440 and $766,318 for the years ended December 31, 2014 and 2013, respectively, and was included in the general and administrative expenses. Medical formulas typically do not have a residual value at the end of their amortization period.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">The Company evaluates each approved medical formula for impairment at the date of CFDA approval, when indications of impairment are present and at the date of each financial statement. The Company&#146;s evaluation is based on an estimated undiscounted net cash flow model, considering currently available market data for the related drug and the Company&#146;s estimated market share. If the carrying value of the medical formula exceeds the estimated future net cash flows, an impairment loss is recognized for the excess of the carrying value over the fair value of the medical formula, which is determined by the estimated discounted future net cash flows. No impairment losses were recognized during the years ended December 31, 2014 and 2013, respectively.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Intangible assets consisted solely of CFDA approved medical formulas as follows:</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0" width="80%" style='width:80%'> <tr> <td valign="bottom" width="70%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:70%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="13%" colspan="2" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">December 31,</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="13%" colspan="2" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">December 31,</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td></tr> <tr> <td valign="bottom" width="70%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:70%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="13%" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">2014</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="13%" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">2013</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td></tr> <tr> <td valign="bottom" width="70%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:70%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Gross carrying amount</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="12%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:12%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">5,499,494</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="12%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:12%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">5,524,785</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="70%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:70%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Accumulated amortization</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="12%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:12%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">(4,182,273</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">)</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="12%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:12%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">(3,812,992</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">)</font></p></td></tr> <tr> <td valign="bottom" width="70%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:70%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Net carrying amount</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="12%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:12%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">1,317,221</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="12%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:12%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">1,711,793</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr></table></div> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">The estimated aggregate annual amortization expense for each of the next five years and thereafter is as follows:</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0" width="30%" style='width:30%'> <tr> <td valign="top" width="8%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:8%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">Year</font></b></p></td> <td valign="top" width="2%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:2%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="top" width="11%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:11%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;Amount</font></b></p></td></tr> <tr> <td valign="top" width="8%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:8%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">2015</font></p></td> <td valign="top" width="2%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:2%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="top" width="11%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:11%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;321,753</font></p></td></tr> <tr> <td valign="top" width="8%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:8%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">2016</font></p></td> <td valign="top" width="2%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:2%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="top" width="11%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:11%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300,191</font></p></td></tr> <tr> <td valign="top" width="8%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:8%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">2017</font></p></td> <td valign="top" width="2%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:2%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="top" width="11%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:11%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;258,094</font></p></td></tr> <tr> <td valign="top" width="8%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:8%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">2018</font></p></td> <td valign="top" width="2%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:2%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="top" width="11%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:11%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137,930</font></p></td></tr> <tr> <td valign="top" width="8%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:8%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">2019</font></p></td> <td valign="top" width="2%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:2%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="top" width="11%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:11%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64,755</font></p></td></tr> <tr> <td valign="top" width="8%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:8%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">Thereafter</font></p></td> <td valign="top" width="2%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:2%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="top" width="11%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:11%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234,498</font></p></td></tr> <tr> <td valign="top" width="8%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:8%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">Total</font></b></p></td> <td valign="top" width="2%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:2%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="top" width="11%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:11%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,317,221</font></p></td></tr></table></div> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p><span></span></td>
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                <p>The entire disclosure for all or part of the information related to intangible assets.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 350<br><br> -SubTopic 30<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 350<br><br> -SubTopic 30<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16265-109275<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 350<br><br> -SubTopic 30<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16373-109275<br><br><br><br></p>
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      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock', window );">PROPERTY AND EQUIPMENT</a></td>
        <td class="text"><!--egx--><p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">NOTE 5 - PROPERTY AND EQUIPMENT</font></b></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Property and equipment consisted of the following:</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0" width="90%" style='width:90%'> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="10%" colspan="2" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">December 31,</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="10%" colspan="2" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">December 31,</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="10%" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">2014</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="10%" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">2013</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Permit of land use</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">458,853</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">460,964</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Building</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">11,279,704</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">2,494,623</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Plant, machinery and equipment</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">28,358,694</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">6,671,620</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Motor vehicle</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">150,976</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">151,670</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Office equipment</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">268,521</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">229,210</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Construction in progress</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">5,848</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">25,497,600</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt 9pt'><b><font lang="EN-US">Total</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">40,522,596</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">35,505,687</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Less: accumulated depreciation</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">(6,640,718</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">)</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">(5,264,350</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">)</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">Property and Equipment, net</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">33,881,878</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">30,241,337</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr></table></div> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Construction in progress consists primarily of the construction of a new production facility, the acquisition of related equipment and capitalized interest during the construction period.&nbsp;Once the building and machinery is in production and the facility is in use, the amount of construction in progress is moved into plant, machinery and equipment and depreciated.&nbsp;During the year ended December 31, 2014, an aggregate of approximately $25.5 million was reclassified from construction in progress to their respective property and equipment category as the assets were placed in service and depreciation commenced.&nbsp;A reconciliation of total interest cost incurred to interest expense as recognized in the consolidated statement of operations is as follows:</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0" width="90%" style='width:90%'> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="22%" colspan="6" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:22%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">For the Year</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="22%" colspan="6" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:22%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">Ended December 31,</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="10%" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">2014</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="10%" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">2013</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Total interest cost incurred</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">1,244,346</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">583,400</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Interest cost capitalized</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">458,542</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">234,704</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Interest expense</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">785,804</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">348,696</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr></table></div> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Depreciation is computed on a straight-line basis over the estimated useful lives of the assets as follows:</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0" width="40%" style='width:40%'> <tr> <td valign="top" width="33%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:33%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">Asset</font></p></td> <td valign="top" width="2%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:2%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="top" width="13%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;Life - years</font></p></td></tr> <tr> <td valign="top" width="33%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:33%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Permit of land use</font></p></td> <td valign="top" width="2%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:2%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="top" width="13%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:13%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">40 - 70</font></p></td></tr> <tr> <td valign="top" width="33%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:33%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Building</font></p></td> <td valign="top" width="2%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:2%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="top" width="13%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:13%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">20 - 49</font></p></td></tr> <tr> <td valign="top" width="33%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:33%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Plant, machinery and equipment</font></p></td> <td valign="top" width="2%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:2%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="top" width="13%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:13%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">5 - 10</font></p></td></tr> <tr> <td valign="top" width="33%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:33%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Motor vehicle</font></p></td> <td valign="top" width="2%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:2%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="top" width="13%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:13%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">5 - 10</font></p></td></tr> <tr> <td valign="top" width="33%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:33%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Office equipment</font></p></td> <td valign="top" width="2%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:2%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="top" width="13%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:13%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">3-5</font></p></td></tr></table></div> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Depreciation relating to office equipment was included in general and administrative expenses, while all other depreciation was included in cost of revenue. For the years ended December 31, 2014 and 2013, depreciation expense was $1,399,396 and $846,512, respectively.</font></p><span></span></td>
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                <p>The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.</p>
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0ELE">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>BASIS OF PRESENTATION (Tables)<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
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      <tr>
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          <div>Dec. 31, 2014</div>
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      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_BasisOfPresentationTablesAbstract', window );"><strong>BASIS OF PRESENTATION (Tables)</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock', window );">Presentation of the numerators and denominators used in the calculation of basic and diluted earnings per share</a></td>
        <td class="text"><!--egx--><p style='margin:0cm 0cm 0pt'><font lang="EN-US">The following table is a presentation of the numerators and denominators used in the calculation of basic and diluted (loss) earnings per share:</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p> <table border="0" cellspacing="0" cellpadding="0" width="100%" style='width:100%'> <tr> <td valign="bottom" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" colspan="6" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">For the Year</font></b></p></td> <td valign="bottom" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" colspan="6" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">Ended December 31,</font></b></p></td> <td valign="bottom" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">2014</font></b></p></td> <td valign="bottom" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">2013</font></b></p></td> <td valign="bottom" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Net loss</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">(26,047,375</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">)</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">(20,008,049</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">)</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Basic weighted-average common shares outstanding</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">43,579,557</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">43,579,557</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Effect of dilutive securities:</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt 9pt'><font lang="EN-US">Warrants</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">-</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">-</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Options</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">-</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">-</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Diluted weighted-average common shares outstanding</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">43,579,557</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">43,579,557</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Basic loss per share</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">(0.60</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">)</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">(0.46</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">)</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Diluted loss per share</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">(0.60</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">)</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">(0.46</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">)</font></p></td></tr></table> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p><span></span></td>
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                <p>Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.</p>
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        <td class="text"><!--egx--><p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">NOTE 13 - STOCKHOLDERS' EQUITY</font></b></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">The Company is authorized to issue 95,000,000 shares of common stock, $0.001 par value, and 5,000,000 shares of preferred stock, $0.001 par value. The preferred stock may be issued in series with such designations, preferences, stated values, rights, qualifications or limitations as determined solely by the Company&#146;s board of directors.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><b><u><font lang="EN-US">Warrants</font></u></b></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">As of December 31, 2012, the Company had warrants outstanding and exercisable to purchase an aggregate of 150,000 shares of Company's common stock at exercise prices ranging from $3.00 to $3.80 per share, which expired on May 16, 2013.As of December 31, 2014 and 2013, the Company had no warrants outstanding.&nbsp;</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p> <p style='margin:0cm 0cm 0pt'><b><u><font lang="EN-US">Employee Stock Options</font></u></b></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><i><font lang="EN-US">2010 Incentive Plan</font></i></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">On November 12, 2010, the Company&#146;s Board of Directors adopted the Company&#146;s 2010 Incentive Plan (the &#147;Plan&#148;), which was then approved by stockholders on December 22, 2010. The Plan gave the Company the ability to grant stock options, restricted stock, stock appreciation rights and performance units to its employees, directors and consultants, or those who will become employees, directors and consultants of the Company and/or its subsidiaries. The Plan currently allows for equity awards of up to 4,000,000 shares of common stock. Through December 31, 2014, there were 175,000 shares of restricted stock granted and outstanding under the Plan.&nbsp; No options were outstanding as of December 31, 2014 under the Plan.</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;&nbsp;There were no securities issued from the Plan during each of the year ended December 31, 2014 and 2013.&nbsp;&nbsp;Options to purchase 25,000 shares of common stock at an exercise price of $2.54 per share were forfeited during 2013.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">The Company recognized no compensation expense related to the awards of common shares and the grants and modifications of stock options during each of the years ended December 31, 2014 and 2013.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">The fair value of each option award is estimated on the date of grant using the Black-Scholes Option Pricing Model. Expected volatility is based on the historical volatility of the Company&#146;s common stock prices. The Company uses historical data to estimate employee termination rates. The expected term of options granted is determined by the simplified method, which is one-half of the original contractual term. The simplified method is used due to the lack of historical share option exercise data to provide a reasonable basis upon which to estimate expected term. The risk-free rate for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">As of December 31, 2014, there was no remaining unrecognized compensation expense related to stock options or restricted stock grants.</font></p><span></span></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(d),(e))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 4<br><br> -Subparagraph (SAB TOPIC 4.C)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187143-122770<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29-31)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 310<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SAB TOPIC 4.E)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27010918&amp;loc=d3e74512-122707<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 4<br><br> -Section C<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 4<br><br> -Section E<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Article 4<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21506-112644<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Preferred Stock<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6521494<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30, 31<br><br> -Article 5<br><br><br><br>Reference 11: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 12: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 13: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 14: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21475-112644<br><br><br><br>Reference 15: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 11<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21564-112644<br><br><br><br>Reference 16: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21488-112644<br><br><br><br>Reference 17: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21484-112644<br><br><br><br>Reference 18: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Paragraph d<br><br> -Article 4<br><br><br><br>Reference 19: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 30<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6405834&amp;loc=d3e23285-112656<br><br><br><br></p>
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EME">
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        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>NOTES PAYABLE<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2014</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_NotesPayable1Abstract', window );"><strong>NOTES PAYABLES</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtDisclosureTextBlock', window );">NOTES PAYABLES</a></td>
        <td class="text"><!--egx--><p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">NOTE 9 &#150; NOTES PAYABLE</font></b></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">On October 30, 2012, the Company entered into a revolving line of credit with a bank in the amount of RMB 30,000,000.&nbsp;The related note payable bore interest at an annual rate of 6.90% (based upon 115% of the PRC government&#146;s current short term rate of 6.00%). Advances on the line of credit were due one year from the date of the advance and were collateralized by certain land use rights, buildings and accounts receivable. On November 1, 2013 the Company entered into a new revolving line of credit for the same amount with the same bank.&nbsp;&nbsp;Advances on the line of credit are due one year from the date of the advance and are collateralized by certain land use rights, buildings and accounts receivable and bear interest at an annual rate of 6.6% (based upon 110% of the PRC government&#146;s current short term rate of 6.00%).&nbsp;&nbsp;In addition, the Company&#146;s Chief Executive Officer and Chair of the board of directors personally guaranteed the new line of credit.</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">In November 2014, the Company entered into a new line of credit with the same bank on identical terms.&nbsp;&nbsp;The amounts advanced under the line of credit are due November 24, 2015. Advances on the line of credit are due one year from the date of the advance and are collateralized by certain land use rights, buildings and accounts receivable and bear interest at an annual rate of 6.16% (based upon 110% of the PRC government&#146;s current short term rate of 5.6%). In addition, the Company&#146;s Chief Executive Officer and Chair of the board of directors personally guaranteed the new line of credit.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">The outstanding balance due under the revolving line of credit was RMB 30,000,000 as of December 31, 2014 and 2013 ($4,887,187 as of December 31, 2014 and $4,909,662 as of December 31, 2013).&nbsp;&nbsp;The Company has no additional amounts available to it under this line of credit.&nbsp;&nbsp;This amount has been classified as short-term notes payable in the accompanying consolidated balance sheets as of December 31, 2014 and 2013.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><b><i><font lang="EN-US">Fair Value of</font></i></b><font lang="EN-US"> <b><i>Notes Payable</i></b> &#150; Based on the borrowing rates currently available to the Company for bank loans with similar terms and maturities, the carrying amounts of notes payable outstanding as of December 31, 2014 and 2013 approximated their fair value because of the immediate or short-term maturity of these financial instruments and because the underlying instruments bear interest rates that approximated current market rates.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p><span></span></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
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                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_NotesPayable1Abstract</td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21475-112644<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 19, 20, 22<br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.19,20,22)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0ELE">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>ADVANCES FOR PURCHASES OF INTANGIBLE ASSETS.<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2014</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_AdvancesForPurchasesOfIntangibleAssetsAbstract', window );"><strong>ADVANCES FOR PURCHASES OF INTANGIBLE ASSETS</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_AdvancesForPurchasesOfIntangibleAssetsTextBlock', window );">ADVANCES FOR PURCHASES OF INTANGIBLE ASSETS.</a></td>
        <td class="text"><!--egx--><p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">NOTE 7 &#150; ADVANCES FOR PURCHASES OF INTANGIBLE ASSETS</font></b></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">In order to expand the number of medicines the Company manufactured and marketed, it has entered into contracts with independent laboratories and others for the purchase of medical formulas. Although CFDA approval had not been obtained for these medical formulas at the dates of the respective contracts, the objective of the contracts is for the Company to purchase CFDA-approved medical formulas once the CFDA approval process is completed. The Company received the titles to two patents that relate to medical formulas currently in the CFDA approval process for the year end December 31, 2013. These patents have not expired.</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Prior to entering into contracts with the Company, laboratories typically are required to complete all&nbsp;&nbsp;research and development to determine the content of the medical formula and the method to produce the generic medicine. The application to the CFDA for production approval must be made by the production facility that will produce the related product. As a result, a contract typically provides that the Company buys the medical formula from the laboratory and the laboratory is required to assist the Company in applying for and obtaining the production approval from the CFDA.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">A typical CFDA approval process for the production of a generic medical product involves a number of steps that generally require three to five years to complete. If the medical formula is purchased at the point when the generic medical product receives the CFDA&#146;s approval for a clinical study, which is very typical for the Company, the clinical study that follows will usually take from one and a half to three years to complete. After completing the clinical study, the results are submitted to the CFDA and a production approval application is filed with the CFDA. In most cases, it will take between eight to eighteen months to prepare and submit the production approval application and obtain CFDA approval. Upon approving the generic medical product, the CFDA issues a production certificate and the Company can commence the production and sales of the generic medical product. As a result of this process, CFDA approval is expected to be received in approximately two to five years from the date&nbsp;&nbsp;the Company signs the medical formula contracts.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Under the terms of the contracts, the laboratories are required to assist the Company in obtaining production approval for the medical formulas from the CFDA. Management monitors the status of each medical formula on a regular basis in order to assess whether the laboratories are performing adequately under the contracts. If a medical product is not approved by the CFDA, as evidenced by their issuance of a denial letter, or if the laboratory breaches the contract, the laboratory is required under the contract to provide a refund to the Company of the full amount of the payments made to the laboratory for that formula, or the Company can require the application of those payments to another medical formula with the same laboratory. As a result of the refund right, the Company is ultimately purchasing an approved medical product. Accordingly, payments made prior to the issuance of production approval by the CFDA are recorded as advances for purchases of intangible assets.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">To date, no formula has failed to receive CFDA production approval nor has the Company been informed or become aware of any formula that may fail to receive such approval. However, there is no assurance that the medical products will receive production approval and if the Company does not receive such approval, it will enforce its contractual rights to receive the refund from the laboratory or have the payments applied to another medical formula with the same laboratory.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">As of December 31, 2014 and 2013, the Company was obligated to pay laboratories and others approximately $4,551,000 and $5,466,000, respectively, upon the completion of the various phases of contracts to obtain CFDA production approval of medical formulas.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p><span></span></td>
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                <p>The entire disclosure of advances for purchases of intangible assets.</p>
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                <p>No definition available.</p>
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EME">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>RELATED PARTY TRANSACTIONS<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
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      <tr>
        <th class="th">
          <div>Dec. 31, 2014</div>
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      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsAbstract', window );"><strong>RELATED PARTY TRANSACTIONS</strong></a></td>
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        <td class="text"><!--egx--><p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">NOTE 8 &#150; RELATED PARTY TRANSACTIONS</font></b></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">A member of the Company&#146;s board of directors had previously advanced the Company an aggregate amount of $1,354,567 as of December 31, 2014 and 2013 which are recorded as other payables &#150; related parties on the accompanying consolidated balance sheets. The advances bear interest at a rate of 1.0% per year.&nbsp;&nbsp;Total interest expense of $13,546 was recognized for each of the years ended December 31, 2014 and 2013.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p><span></span></td>
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                <p>The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 850<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39622-107864<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 850<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39603-107864<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 850<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph b<br><br> -Article 3A<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(k))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Paragraph k<br><br> -Article 4<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 850<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39691-107864<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 850<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39678-107864<br><br><br><br></p>
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EME">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>CONSTRUCTION LOAN FACILITY.<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
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      <tr>
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          <div>Dec. 31, 2014</div>
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        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_DebtAbstract', window );"><strong>CONSTRUCTION LOAN FACILITY</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtTextBlock', window );">CONSTRUCTION LOAN FACILITY</a></td>
        <td class="text"><!--egx--><p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">NOTE 10 &#150; CONSTRUCTION LOAN FACILITY</font></b></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">The Company obtained a construction loan facility in the amount of RMB 80,000,000 (approximately $13.0 and $12.5 million as of December 31, 2014 and 2013, respectively) from a construction loan facility dated June 21, 2013. The loan facility is for an eight-year term, which commenced on July 11, 2013, the initial draw-down date. The total loan facility amount is RMB 80,000,000 (approximately $13 million) and is from the same bank that currently provides the line of credit as discussed in Note 9.&nbsp;&nbsp;The proceeds of the loan were used for and are collateralized by the construction of the Company&#146;s new production facility and the included production line equipments and machinery. The loan currently bears interest at 7.205%, based upon 110% of the PRC government&#146;s eight-year term rate effective on the actual draw-down date, subject to annual adjustments based on 110% of the floating rate for the same type of loan on the anniversary from the draw-down date and its subsequent anniversary dates.&nbsp;&nbsp;The loan requires interest only payments for the first two years. Beginning July 11, 2015, the balance of the principal is due in annual installments over the next six years through July 11, 2021. As of December 31, 2014, the Company had no additional amounts available to it under this loan facility.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Principal payments required for the next five years as of December 31, 2014 are as follows:</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0" width="50%" style='width:50%'> <tr> <td valign="bottom" width="82%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:82%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">Year</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="16%" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:16%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">Amount</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td></tr> <tr> <td valign="bottom" width="82%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:82%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">2015</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="15%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:15%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">1,629,062</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="82%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:82%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">2016</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="15%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:15%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">1,629,062</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="82%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:82%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">2017</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="15%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:15%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">2,443,594</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="82%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:82%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">2018</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="15%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:15%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">2,443,594</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="82%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:82%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">2019</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="15%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:15%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">2,443,594</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="82%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:82%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Thereafter</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="15%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:15%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">2,443,594</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="82%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:82%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="15%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:15%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">13,032,500</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr></table></div> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><b><i><font lang="EN-US">Fair Value of</font></i></b><font lang="EN-US"> <b><i>Construction Loan Facility</i></b> &#150; Based on the borrowing rates currently available to the Company for bank loans with similar terms and maturities, the carrying amounts of the construction loan facility outstanding as of December 31, 2014 approximated its fair value because the underlying instrument bears an interest rate that approximated current market rates.&nbsp;</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p><span></span></td>
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                <p>The entire disclosure for long-term debt.</p>
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                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.22)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 22<br><br> -Article 5<br><br><br><br></p>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Recognized inventory obsolescence allowance of approx. For Buflomedil-related rawmaterials and finished goods inventory</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
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                    <td><strong> Name:</strong></td>
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0ECIAC">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>INCOME TAXES Provision (Details) (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="2">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2014</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_INCOMETAXESProvisionAbstract', window );"><strong>INCOME TAXES Provision</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CurrentIncomeTaxExpenseBenefit', window );">Current tax provision.</a></td>
        <td class="nump"><a title="us-gaap_CurrentIncomeTaxExpenseBenefit" onclick="toggleNextSibling(this);">$ 0</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_CurrentIncomeTaxExpenseBenefit</span><span></span></td>
        <td class="nump"><a title="us-gaap_CurrentIncomeTaxExpenseBenefit" onclick="toggleNextSibling(this);">$ 0</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_CurrentIncomeTaxExpenseBenefit</span><span></span></td>
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        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredFederalIncomeTaxExpenseBenefit', window );">Deferred tax provision.</a></td>
        <td class="nump"><a title="us-gaap_DeferredFederalIncomeTaxExpenseBenefit" onclick="toggleNextSibling(this);">77,042</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_DeferredFederalIncomeTaxExpenseBenefit</span><span></span></td>
        <td class="nump"><a title="us-gaap_DeferredFederalIncomeTaxExpenseBenefit" onclick="toggleNextSibling(this);">1,061,413</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_DeferredFederalIncomeTaxExpenseBenefit</span><span></span></td>
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      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_TotalIncomeTaxExpense', window );">Total income tax expense</a></td>
        <td class="nump"><a title="fil_TotalIncomeTaxExpense" onclick="toggleNextSibling(this);">77,042</a><span style="display:none;white-space:normal;text-align:left;">fil_TotalIncomeTaxExpense</span><span></span></td>
        <td class="nump"><a title="fil_TotalIncomeTaxExpense" onclick="toggleNextSibling(this);">1,061,413</a><span style="display:none;white-space:normal;text-align:left;">fil_TotalIncomeTaxExpense</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_EffectOfTaxHolidayAmountedToAChangeInTheTaxExpenseBenefitOf', window );">Effect of tax holiday amounted to a change in the tax expense (benefit) of</a></td>
        <td class="nump"><a title="fil_EffectOfTaxHolidayAmountedToAChangeInTheTaxExpenseBenefitOf" onclick="toggleNextSibling(this);">$ 2,559,466</a><span style="display:none;white-space:normal;text-align:left;">fil_EffectOfTaxHolidayAmountedToAChangeInTheTaxExpenseBenefitOf</span><span></span></td>
        <td class="nump"><a title="fil_EffectOfTaxHolidayAmountedToAChangeInTheTaxExpenseBenefitOf" onclick="toggleNextSibling(this);">$ 1,834,517</a><span style="display:none;white-space:normal;text-align:left;">fil_EffectOfTaxHolidayAmountedToAChangeInTheTaxExpenseBenefitOf</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_EquivalentToBasicAndDilutedEarningsPerShareOf', window );">Equivalent to basic and diluted earnings per share of</a></td>
        <td class="num"><a title="fil_EquivalentToBasicAndDilutedEarningsPerShareOf" onclick="toggleNextSibling(this);">$ (0.09)</a><span style="display:none;white-space:normal;text-align:left;">fil_EquivalentToBasicAndDilutedEarningsPerShareOf</span><span></span></td>
        <td class="num"><a title="fil_EquivalentToBasicAndDilutedEarningsPerShareOf" onclick="toggleNextSibling(this);">$ (0.04)</a><span style="display:none;white-space:normal;text-align:left;">fil_EquivalentToBasicAndDilutedEarningsPerShareOf</span><span></span></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Effect of tax holiday amounted to a change in the tax expense (benefit) of</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_EffectOfTaxHolidayAmountedToAChangeInTheTaxExpenseBenefitOf</td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
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                    <td><strong> Name:</strong></td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_TotalIncomeTaxExpense</td>
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                    <td>xbrli:monetaryItemType</td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CurrentIncomeTaxExpenseBenefit">
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SAB TOPIC 6.I.7)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Current Tax Expense (or Benefit)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6509736<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 9<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(h))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Paragraph h<br><br> -Article 4<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 6<br><br> -Section I<br><br> -Subsection 7<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of deferred federal income tax expense (benefit) pertaining to income (loss) from continuing operations.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SAB TOPIC 6.I.7)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(h))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Paragraph h<br><br> -Article 4<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 6<br><br> -Section I<br><br> -Subsection 7<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Deferred Tax Expense (or Benefit)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6510177<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 9<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_DeferredFederalIncomeTaxExpenseBenefit</td>
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                    <td>duration</td>
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EME">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>CONCENTRATIONS<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
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      <tr>
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        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RisksAndUncertaintiesAbstract', window );"><strong>CONCENTRATIONS</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text"><!--egx--><p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">NOTE 15 &#150; CONCENTRATIONS</font></b></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">For the year ended December 31, 2014, one customer accounted for 16.2% of sales and one supplier accounted for 26.5% of raw material purchases, one customer accounted for 17.7% of accounts receivable, and three different products accounted for 49%, 12% and 11% of revenue.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">For the year ended December 31, 2013, no customer accounted for more than 10% of sales and one supplier accounted for 18.7% of raw material purchases, two customers accounted for 14.5% and 11.2% of accounts receivable, and three different products accounted for 35%, 13% and 10% of revenue.&nbsp;</font></p><span></span></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 275<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 16<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6927468&amp;loc=d3e6327-108592<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 275<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 20<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6927468&amp;loc=d3e6404-108592<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 20<br><br> -URI http://asc.fasb.org/extlink&amp;oid=35750535&amp;loc=d3e13531-108611<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 275<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 18<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6927468&amp;loc=d3e6351-108592<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 21<br><br> -URI http://asc.fasb.org/extlink&amp;oid=35750535&amp;loc=d3e13537-108611<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 275<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 21<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6927468&amp;loc=d3e6442-108592<br><br><br><br></p>
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EZF">
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          <div style="width: 200px;"><strong>INTANGIBLE ASSETS (Tables)<br></strong></div>
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        <th class="th" colspan="1">12 Months Ended</th>
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      <tr>
        <th class="th">
          <div>Dec. 31, 2014</div>
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        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_IntangibleAssetsTablesAbstract', window );"><strong>Intangible Assets (Tables)</strong></a></td>
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      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_IntangibleAssetsMedicalFormulasTablesTextBlock', window );">Intangible Assets Medical Formulas</a></td>
        <td class="text"><!--egx--><p style='margin:0cm 0cm 0pt'><font lang="EN-US">Intangible assets consisted solely of CFDA approved medical formulas as follows:</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0" width="80%" style='width:80%'> <tr> <td valign="bottom" width="70%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:70%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="13%" colspan="2" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">December 31,</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="13%" colspan="2" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">December 31,</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td></tr> <tr> <td valign="bottom" width="70%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:70%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="13%" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">2014</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="13%" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:13%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">2013</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td></tr> <tr> <td valign="bottom" width="70%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:70%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Gross carrying amount</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="12%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:12%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">5,499,494</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="12%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:12%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">5,524,785</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="70%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:70%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Accumulated amortization</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="12%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:12%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">(4,182,273</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">)</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="12%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:12%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">(3,812,992</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">)</font></p></td></tr> <tr> <td valign="bottom" width="70%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:70%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Net carrying amount</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="12%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:12%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">1,317,221</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="12%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:12%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">1,711,793</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr></table></div> <p style='margin:0cm 0cm 0pt'>&nbsp;</p><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_EstimatedAggregateAnnualAmortizationExpenseTextBlock', window );">Estimated aggregate annual amortization expense</a></td>
        <td class="text"><!--egx--><p style='margin:0cm 0cm 0pt'><font lang="EN-US">The estimated aggregate annual amortization expense for each of the next five years and thereafter is as follows:</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0" width="30%" style='width:30%'> <tr> <td valign="top" width="8%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:8%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">Year</font></b></p></td> <td valign="top" width="2%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:2%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="top" width="11%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:11%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;Amount</font></b></p></td></tr> <tr> <td valign="top" width="8%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:8%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">2015</font></p></td> <td valign="top" width="2%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:2%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="top" width="11%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:11%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;321,753</font></p></td></tr> <tr> <td valign="top" width="8%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:8%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">2016</font></p></td> <td valign="top" width="2%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:2%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="top" width="11%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:11%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300,191</font></p></td></tr> <tr> <td valign="top" width="8%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:8%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">2017</font></p></td> <td valign="top" width="2%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:2%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="top" width="11%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:11%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;258,094</font></p></td></tr> <tr> <td valign="top" width="8%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:8%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">2018</font></p></td> <td valign="top" width="2%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:2%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="top" width="11%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:11%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137,930</font></p></td></tr> <tr> <td valign="top" width="8%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:8%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">2019</font></p></td> <td valign="top" width="2%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:2%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="top" width="11%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:11%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64,755</font></p></td></tr> <tr> <td valign="top" width="8%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:8%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">Thereafter</font></p></td> <td valign="top" width="2%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:2%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="top" width="11%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:11%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234,498</font></p></td></tr> <tr> <td valign="top" width="8%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:8%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">Total</font></b></p></td> <td valign="top" width="2%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:2%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="top" width="11%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:11%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,317,221</font></p></td></tr></table></div> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p><span></span></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tabluar disclosure of estimated aggregate annual amortization expense</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
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                <p>Tabluar disclosure of Intangible Assets Medical Formulas</p>
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EGFAC">
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          <div style="width: 200px;"><strong>Principal payments required for the next five years as of December 31, 2014 are as follows: (Details) (USD $)<br></strong></div>
        </th>
        <th class="th">
          <div>Dec. 31, 2014</div>
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      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_PrincipalPaymentsRequiredForTheNextFiveYearsAsOfDecember312013AreAsFollowsAbstract', window );"><strong>Principal payments required for the next five years as of December 31, 2013 are as follows:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_PrincipalPayments2015', window );">Principal Payments 2015</a></td>
        <td class="nump"><a title="fil_PrincipalPayments2015" onclick="toggleNextSibling(this);">$ 1,629,062</a><span style="display:none;white-space:normal;text-align:left;">fil_PrincipalPayments2015</span><span></span></td>
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        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_PrincipalPayments2016', window );">Principal Payments 2016</a></td>
        <td class="nump"><a title="fil_PrincipalPayments2016" onclick="toggleNextSibling(this);">1,629,062</a><span style="display:none;white-space:normal;text-align:left;">fil_PrincipalPayments2016</span><span></span></td>
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        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_PrincipalPayments2017', window );">Principal Payments 2017</a></td>
        <td class="nump"><a title="fil_PrincipalPayments2017" onclick="toggleNextSibling(this);">2,443,594</a><span style="display:none;white-space:normal;text-align:left;">fil_PrincipalPayments2017</span><span></span></td>
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        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_PrincipalPayments2018', window );">Principal Payments 2018</a></td>
        <td class="nump"><a title="fil_PrincipalPayments2018" onclick="toggleNextSibling(this);">2,443,594</a><span style="display:none;white-space:normal;text-align:left;">fil_PrincipalPayments2018</span><span></span></td>
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        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_PrincipalPayments2019', window );">Principal Payments 2019</a></td>
        <td class="nump"><a title="fil_PrincipalPayments2019" onclick="toggleNextSibling(this);">2,443,594</a><span style="display:none;white-space:normal;text-align:left;">fil_PrincipalPayments2019</span><span></span></td>
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        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_PrincipalPaymentsThereafter', window );">Principal Payments Thereafter</a></td>
        <td class="nump"><a title="fil_PrincipalPaymentsThereafter" onclick="toggleNextSibling(this);">2,443,594</a><span style="display:none;white-space:normal;text-align:left;">fil_PrincipalPaymentsThereafter</span><span></span></td>
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        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_TotalPrincipalPaymentsDue', window );">Total principal payments due</a></td>
        <td class="nump"><a title="fil_TotalPrincipalPaymentsDue" onclick="toggleNextSibling(this);">$ 13,032,500</a><span style="display:none;white-space:normal;text-align:left;">fil_TotalPrincipalPaymentsDue</span><span></span></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of the total principal payments made during the annual reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_PrincipalPayments2015</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_PrincipalPayments2016">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of the total principal payments made during the annual reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_PrincipalPayments2016</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_PrincipalPayments2017">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of the total principal payments made during the annual reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_PrincipalPayments2017</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_PrincipalPayments2018">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of the total principal payments made during the annual reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_PrincipalPayments2018</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_PrincipalPayments2019">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Principal amount paid by the company in 2019</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_PrincipalPayments2019</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_PrincipalPaymentsRequiredForTheNextFiveYearsAsOfDecember312013AreAsFollowsAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_PrincipalPaymentsRequiredForTheNextFiveYearsAsOfDecember312013AreAsFollowsAbstract</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_PrincipalPaymentsThereafter">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of the total principal payments made during the annual reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_PrincipalPaymentsThereafter</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_TotalPrincipalPaymentsDue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total Principal amount due by the company</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_TotalPrincipalPaymentsDue</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>75
<FILENAME>R41.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <title></title>
    <link rel="stylesheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
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							}</script></head>
  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EFH">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>ASSETS Depreciation (Details) (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="2">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2014</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_AssetsDepreciationAbstract', window );"><strong>Assets Depreciation</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_DepreciationExpensePropertyAndEquipment', window );">Depreciation Expense property and equipment</a></td>
        <td class="nump"><a title="fil_DepreciationExpensePropertyAndEquipment" onclick="toggleNextSibling(this);">$ 1,399,396</a><span style="display:none;white-space:normal;text-align:left;">fil_DepreciationExpensePropertyAndEquipment</span><span></span></td>
        <td class="nump"><a title="fil_DepreciationExpensePropertyAndEquipment" onclick="toggleNextSibling(this);">$ 846,512</a><span style="display:none;white-space:normal;text-align:left;">fil_DepreciationExpensePropertyAndEquipment</span><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_AssetsDepreciationAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_AssetsDepreciationAbstract</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_DepreciationExpensePropertyAndEquipment">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Depreciation Expense property and equipment</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_DepreciationExpensePropertyAndEquipment</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>76
<FILENAME>R5.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <title></title>
    <link rel="stylesheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else {
							e.nextSibling.style.display='none';
							}
							}</script></head>
  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EFFAG">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (USD $)<br></strong></div>
        </th>
        <th class="th">
          <div>Common Stock Shares</div>
        </th>
        <th class="th">
          <div>Common Stock Amount</div>
        </th>
        <th class="th">
          <div>Additional Paid-in Capital</div>
        </th>
        <th class="th">
          <div>Retained Earnings

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Accumulated Other Comprehensive Income

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Total Stockholders' Equity

</div>
          <div>USD ($)</div>
        </th>
      </tr>
      <tr class="rc">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesOutstanding', window );">Balance, at Dec. 31, 2012</a></td>
        <td class="nump"><a title="us-gaap_SharesOutstanding[us-gaap_StatementEquityComponentsAxis=us-gaap_CapitalUnitsMember]" onclick="toggleNextSibling(this);">43,579,557</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_SharesOutstanding<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_CapitalUnitsMember</span><span></span></td>
        <td class="nump"><a title="us-gaap_SharesOutstanding[us-gaap_StatementEquityComponentsAxis=us-gaap_CommonStockMember]" onclick="toggleNextSibling(this);">43,580</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_SharesOutstanding<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_CommonStockMember</span><span></span></td>
        <td class="nump"><a title="us-gaap_SharesOutstanding[us-gaap_StatementEquityComponentsAxis=us-gaap_AdditionalPaidInCapitalMember]" onclick="toggleNextSibling(this);">23,590,204</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_SharesOutstanding<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_AdditionalPaidInCapitalMember</span><span></span></td>
        <td class="nump"><a title="us-gaap_SharesOutstanding[us-gaap_StatementEquityComponentsAxis=us-gaap_RetainedEarningsMember]" onclick="toggleNextSibling(this);">108,904,325</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_SharesOutstanding<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_RetainedEarningsMember</span><span></span></td>
        <td class="nump"><a title="us-gaap_SharesOutstanding[us-gaap_StatementEquityComponentsAxis=us-gaap_AccumulatedOtherComprehensiveIncomeMember]" onclick="toggleNextSibling(this);">15,978,458</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_SharesOutstanding<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_AccumulatedOtherComprehensiveIncomeMember</span><span></span></td>
        <td class="nump"><a title="us-gaap_SharesOutstanding[us-gaap_StatementEquityComponentsAxis=us-gaap_StockholdersEquityTotalMember]" onclick="toggleNextSibling(this);">148,516,567</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_SharesOutstanding<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_StockholdersEquityTotalMember</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_NetLossForTheYear', window );">Net loss for the year</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num"><a title="fil_NetLossForTheYear[us-gaap_StatementEquityComponentsAxis=us-gaap_RetainedEarningsMember]" onclick="toggleNextSibling(this);">$ (20,008,049)</a><span style="display:none;white-space:normal;text-align:left;">fil_NetLossForTheYear<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_RetainedEarningsMember</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num"><a title="fil_NetLossForTheYear[us-gaap_StatementEquityComponentsAxis=us-gaap_StockholdersEquityTotalMember]" onclick="toggleNextSibling(this);">$ (20,008,049)</a><span style="display:none;white-space:normal;text-align:left;">fil_NetLossForTheYear<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_StockholdersEquityTotalMember</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_ForeignCurrencyTranslationAdjustment', window );">Foreign currency translation adjustment</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump"><a title="fil_ForeignCurrencyTranslationAdjustment[us-gaap_StatementEquityComponentsAxis=us-gaap_AccumulatedOtherComprehensiveIncomeMember]" onclick="toggleNextSibling(this);">4,435,923</a><span style="display:none;white-space:normal;text-align:left;">fil_ForeignCurrencyTranslationAdjustment<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_AccumulatedOtherComprehensiveIncomeMember</span><span></span></td>
        <td class="nump"><a title="fil_ForeignCurrencyTranslationAdjustment[us-gaap_StatementEquityComponentsAxis=us-gaap_StockholdersEquityTotalMember]" onclick="toggleNextSibling(this);">4,435,923</a><span style="display:none;white-space:normal;text-align:left;">fil_ForeignCurrencyTranslationAdjustment<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_StockholdersEquityTotalMember</span><span></span></td>
      </tr>
      <tr class="rc">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesOutstanding', window );">Balance, at Dec. 31, 2013</a></td>
        <td class="nump"><a title="us-gaap_SharesOutstanding[us-gaap_StatementEquityComponentsAxis=us-gaap_CapitalUnitsMember]" onclick="toggleNextSibling(this);">43,579,557</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_SharesOutstanding<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_CapitalUnitsMember</span><span></span></td>
        <td class="nump"><a title="us-gaap_SharesOutstanding[us-gaap_StatementEquityComponentsAxis=us-gaap_CommonStockMember]" onclick="toggleNextSibling(this);">43,580</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_SharesOutstanding<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_CommonStockMember</span><span></span></td>
        <td class="nump"><a title="us-gaap_SharesOutstanding[us-gaap_StatementEquityComponentsAxis=us-gaap_AdditionalPaidInCapitalMember]" onclick="toggleNextSibling(this);">23,590,204</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_SharesOutstanding<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_AdditionalPaidInCapitalMember</span><span></span></td>
        <td class="nump"><a title="us-gaap_SharesOutstanding[us-gaap_StatementEquityComponentsAxis=us-gaap_RetainedEarningsMember]" onclick="toggleNextSibling(this);">88,896,276</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_SharesOutstanding<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_RetainedEarningsMember</span><span></span></td>
        <td class="nump"><a title="us-gaap_SharesOutstanding[us-gaap_StatementEquityComponentsAxis=us-gaap_AccumulatedOtherComprehensiveIncomeMember]" onclick="toggleNextSibling(this);">20,414,381</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_SharesOutstanding<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_AccumulatedOtherComprehensiveIncomeMember</span><span></span></td>
        <td class="nump"><a title="us-gaap_SharesOutstanding[us-gaap_StatementEquityComponentsAxis=us-gaap_StockholdersEquityTotalMember]" onclick="toggleNextSibling(this);">132,944,441</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_SharesOutstanding<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_StockholdersEquityTotalMember</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_NetLossForTheYear', window );">Net loss for the year</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num"><a title="fil_NetLossForTheYear[us-gaap_StatementEquityComponentsAxis=us-gaap_RetainedEarningsMember]" onclick="toggleNextSibling(this);">(26,047,375)</a><span style="display:none;white-space:normal;text-align:left;">fil_NetLossForTheYear<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_RetainedEarningsMember</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num"><a title="fil_NetLossForTheYear[us-gaap_StatementEquityComponentsAxis=us-gaap_StockholdersEquityTotalMember]" onclick="toggleNextSibling(this);">(26,047,375)</a><span style="display:none;white-space:normal;text-align:left;">fil_NetLossForTheYear<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_StockholdersEquityTotalMember</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_ForeignCurrencyTranslationAdjustment', window );">Foreign currency translation adjustment</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num"><a title="fil_ForeignCurrencyTranslationAdjustment[us-gaap_StatementEquityComponentsAxis=us-gaap_AccumulatedOtherComprehensiveIncomeMember]" onclick="toggleNextSibling(this);">$ (643,221)</a><span style="display:none;white-space:normal;text-align:left;">fil_ForeignCurrencyTranslationAdjustment<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_AccumulatedOtherComprehensiveIncomeMember</span><span></span></td>
        <td class="num"><a title="fil_ForeignCurrencyTranslationAdjustment[us-gaap_StatementEquityComponentsAxis=us-gaap_StockholdersEquityTotalMember]" onclick="toggleNextSibling(this);">$ (643,221)</a><span style="display:none;white-space:normal;text-align:left;">fil_ForeignCurrencyTranslationAdjustment<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_StockholdersEquityTotalMember</span><span></span></td>
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      <tr class="rc">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesOutstanding', window );">Balance, at Dec. 31, 2014</a></td>
        <td class="nump"><a title="us-gaap_SharesOutstanding[us-gaap_StatementEquityComponentsAxis=us-gaap_CapitalUnitsMember]" onclick="toggleNextSibling(this);">43,579,557</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_SharesOutstanding<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_CapitalUnitsMember</span><span></span></td>
        <td class="nump"><a title="us-gaap_SharesOutstanding[us-gaap_StatementEquityComponentsAxis=us-gaap_CommonStockMember]" onclick="toggleNextSibling(this);">43,580</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_SharesOutstanding<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_CommonStockMember</span><span></span></td>
        <td class="nump"><a title="us-gaap_SharesOutstanding[us-gaap_StatementEquityComponentsAxis=us-gaap_AdditionalPaidInCapitalMember]" onclick="toggleNextSibling(this);">23,590,204</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_SharesOutstanding<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_AdditionalPaidInCapitalMember</span><span></span></td>
        <td class="nump"><a title="us-gaap_SharesOutstanding[us-gaap_StatementEquityComponentsAxis=us-gaap_RetainedEarningsMember]" onclick="toggleNextSibling(this);">62,848,901</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_SharesOutstanding<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_RetainedEarningsMember</span><span></span></td>
        <td class="nump"><a title="us-gaap_SharesOutstanding[us-gaap_StatementEquityComponentsAxis=us-gaap_AccumulatedOtherComprehensiveIncomeMember]" onclick="toggleNextSibling(this);">19,771,160</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_SharesOutstanding<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_AccumulatedOtherComprehensiveIncomeMember</span><span></span></td>
        <td class="nump"><a title="us-gaap_SharesOutstanding[us-gaap_StatementEquityComponentsAxis=us-gaap_StockholdersEquityTotalMember]" onclick="toggleNextSibling(this);">106,253,845</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_SharesOutstanding<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_StockholdersEquityTotalMember</span><span></span></td>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount after tax and reclassification adjustments, resulting from the process of expressing in the reporting currency of the reporting entity those amounts that are denominated or measured in a different currency, and from transactions whose terms are denominated in a currency other than the entity's functional currency, which is attributable to the parent entity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_ForeignCurrencyTranslationAdjustment</td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
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                    <td>fil_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of shares issued which are neither cancelled nor held in the treasury.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
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                    <td>na</td>
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<DOCUMENT>
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    <title></title>
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EME">
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        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>INVENTORY.<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2014</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryDisclosureAbstract', window );"><strong>INVENTORY</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryDisclosureTextBlock', window );">INVENTORY</a></td>
        <td class="text"><!--egx--><p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">NOTE 4 &#150; INVENTORY</font></b></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Inventory consisted of the following:</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0" width="90%" style='width:90%'> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="10%" colspan="2" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">December 31,</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="10%" colspan="2" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">December 31,</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:76%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="10%" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">2014</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="10%" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:10%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">2013</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Raw materials</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">18,819,570</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">28,259,707</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Work in process</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">-</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">853,602</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Finished goods</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">3,436,330</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">3,590,937</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">22,255,900</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">32,704,246</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:76%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Obsolescence reserve</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">(6,934,044</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">)</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">(8,027,126</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">)</font></p></td></tr> <tr> <td valign="bottom" width="76%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:76%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt 9pt'><b><font lang="EN-US">Total Inventory</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">15,321,856</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="9%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:9%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">24,677,120</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr></table></div> <p style='margin:0cm 0cm 0pt'>&nbsp;</p><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryDisclosureAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_InventoryDisclosureAbstract</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryDisclosureTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361739&amp;loc=d3e7789-107766<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.6)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 6<br><br> -Subparagraph a, b, c<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_InventoryDisclosureTextBlock</td>
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                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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        </tr>
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<DOCUMENT>
<TYPE>XML
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <title></title>
    <link rel="stylesheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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							e.nextSibling.style.display='block';
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EALAC">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>CONCENTRATIONS (Details)<br></strong></div>
        </th>
        <th class="th" colspan="2">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2014</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_ConcentrationsDetailsAbstract', window );"><strong>CONCENTRATIONS Details</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_PercentageOfNoCustomerAccountedForMoreThanSales', window );">Customer accounted for sales</a></td>
        <td class="nump"><a title="fil_PercentageOfNoCustomerAccountedForMoreThanSales" onclick="toggleNextSibling(this);">16.20%</a><span style="display:none;white-space:normal;text-align:left;">fil_PercentageOfNoCustomerAccountedForMoreThanSales</span><span></span></td>
        <td class="nump"><a title="fil_PercentageOfNoCustomerAccountedForMoreThanSales" onclick="toggleNextSibling(this);">10.00%</a><span style="display:none;white-space:normal;text-align:left;">fil_PercentageOfNoCustomerAccountedForMoreThanSales</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_SupplierAccountedForRawMaterialPurchases', window );">Supplier accounted for raw material purchases</a></td>
        <td class="nump"><a title="fil_SupplierAccountedForRawMaterialPurchases" onclick="toggleNextSibling(this);">26.50%</a><span style="display:none;white-space:normal;text-align:left;">fil_SupplierAccountedForRawMaterialPurchases</span><span></span></td>
        <td class="nump"><a title="fil_SupplierAccountedForRawMaterialPurchases" onclick="toggleNextSibling(this);">18.70%</a><span style="display:none;white-space:normal;text-align:left;">fil_SupplierAccountedForRawMaterialPurchases</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_CustomerAccountedAccountsReceivable1stTime', window );">Customer accounted accounts receivable 1st time</a></td>
        <td class="nump"><a title="fil_CustomerAccountedAccountsReceivable1stTime" onclick="toggleNextSibling(this);">17.70%</a><span style="display:none;white-space:normal;text-align:left;">fil_CustomerAccountedAccountsReceivable1stTime</span><span></span></td>
        <td class="nump"><a title="fil_CustomerAccountedAccountsReceivable1stTime" onclick="toggleNextSibling(this);">14.50%</a><span style="display:none;white-space:normal;text-align:left;">fil_CustomerAccountedAccountsReceivable1stTime</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_CustomerAccountedAccountsReceivable2ndTime', window );">Customer accounted accounts receivable 2nd time</a></td>
        <td class="nump"><a title="fil_CustomerAccountedAccountsReceivable2ndTime" onclick="toggleNextSibling(this);">0.00%</a><span style="display:none;white-space:normal;text-align:left;">fil_CustomerAccountedAccountsReceivable2ndTime</span><span></span></td>
        <td class="nump"><a title="fil_CustomerAccountedAccountsReceivable2ndTime" onclick="toggleNextSibling(this);">11.20%</a><span style="display:none;white-space:normal;text-align:left;">fil_CustomerAccountedAccountsReceivable2ndTime</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_FirstProductAccountedForRevenue', window );">First product accounted for revenue</a></td>
        <td class="nump"><a title="fil_FirstProductAccountedForRevenue" onclick="toggleNextSibling(this);">49.00%</a><span style="display:none;white-space:normal;text-align:left;">fil_FirstProductAccountedForRevenue</span><span></span></td>
        <td class="nump"><a title="fil_FirstProductAccountedForRevenue" onclick="toggleNextSibling(this);">35.00%</a><span style="display:none;white-space:normal;text-align:left;">fil_FirstProductAccountedForRevenue</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_SecondProductAccountedForRevenue', window );">Second product accounted for revenue</a></td>
        <td class="nump"><a title="fil_SecondProductAccountedForRevenue" onclick="toggleNextSibling(this);">12.00%</a><span style="display:none;white-space:normal;text-align:left;">fil_SecondProductAccountedForRevenue</span><span></span></td>
        <td class="nump"><a title="fil_SecondProductAccountedForRevenue" onclick="toggleNextSibling(this);">13.00%</a><span style="display:none;white-space:normal;text-align:left;">fil_SecondProductAccountedForRevenue</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_ThirdProductAccountedForRevenue', window );">Third Product accounted for revenue</a></td>
        <td class="nump"><a title="fil_ThirdProductAccountedForRevenue" onclick="toggleNextSibling(this);">11.00%</a><span style="display:none;white-space:normal;text-align:left;">fil_ThirdProductAccountedForRevenue</span><span></span></td>
        <td class="nump"><a title="fil_ThirdProductAccountedForRevenue" onclick="toggleNextSibling(this);">10.00%</a><span style="display:none;white-space:normal;text-align:left;">fil_ThirdProductAccountedForRevenue</span><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_ConcentrationsDetailsAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_ConcentrationsDetailsAbstract</td>
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                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_CustomerAccountedAccountsReceivable1stTime">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Customer accounted accounts receivable 1st time</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_CustomerAccountedAccountsReceivable1stTime</td>
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                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_CustomerAccountedAccountsReceivable2ndTime">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Customer accounted accounts receivable 2nd time</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_CustomerAccountedAccountsReceivable2ndTime</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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          </td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_FirstProductAccountedForRevenue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>First product accounted for revenue</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_FirstProductAccountedForRevenue</td>
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                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_PercentageOfNoCustomerAccountedForMoreThanSales">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Percentage of no customer accounted for more than sales</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_PercentageOfNoCustomerAccountedForMoreThanSales</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_SecondProductAccountedForRevenue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Second product accounted for revenue</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_SecondProductAccountedForRevenue</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_SupplierAccountedForRawMaterialPurchases">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Company made payments as per Construction agreement</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_SupplierAccountedForRawMaterialPurchases</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_ThirdProductAccountedForRevenue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Third Product accounted for revenue</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_ThirdProductAccountedForRevenue</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
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<DOCUMENT>
<TYPE>XML
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<html>
  <head>
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    <title></title>
    <link rel="stylesheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0ELE">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Schedule of Long-term Debt Instruments (Tables)<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2014</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_ScheduleOfLongTermDebtInstrumentsAbstract', window );"><strong>Schedule of Long-term Debt Instruments:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfDebtInstrumentsTextBlock', window );">Schedule of Long-term Debt Instruments</a></td>
        <td class="text"><!--egx--><p style='margin:0cm 0cm 0pt'><font lang="EN-US">Principal payments required for the next five years as of December 31, 2014 are as follows:</font></p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0" width="50%" style='width:50%'> <tr> <td valign="bottom" width="82%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:82%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">Year</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td> <td valign="bottom" width="16%" colspan="2" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;background-color:transparent;padding-left:0cm;width:16%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="center" style='text-align:center;margin:0cm 0cm 0pt'><b><font lang="EN-US">Amount</font></b></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;background-color:transparent;padding-left:0cm;width:1%;padding-right:0cm;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">&nbsp;</font></b></p></td></tr> <tr> <td valign="bottom" width="82%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:82%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">2015</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="15%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:15%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">1,629,062</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="82%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:82%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">2016</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="15%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:15%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">1,629,062</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="82%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:82%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">2017</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="15%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:15%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">2,443,594</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="82%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:82%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">2018</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="15%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:15%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">2,443,594</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="82%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:82%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">2019</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="15%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:15%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">2,443,594</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="82%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:82%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">Thereafter</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="15%" style='border-bottom:black 1.5pt solid;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:15%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">2,443,594</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:1.5pt;padding-left:0cm;width:1%;padding-right:0cm;background:white;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr> <tr> <td valign="bottom" width="82%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:82%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp; </font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td> <td valign="bottom" width="1%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">$</font></p></td> <td valign="bottom" width="15%" style='border-bottom:black 2.25pt double;border-left:#f0f0f0;padding-bottom:0cm;padding-left:0cm;width:15%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p align="right" style='text-align:right;margin:0cm 0cm 0pt'><font lang="EN-US">13,032,500</font></p></td> <td valign="bottom" width="1%" style='border-bottom:#f0f0f0;border-left:#f0f0f0;padding-bottom:3pt;padding-left:0cm;width:1%;padding-right:0cm;background:azure;border-top:#f0f0f0;border-right:#f0f0f0;padding-top:0cm'> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">&nbsp;</font></p></td></tr></table></div><span></span></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
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                <p>Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EWOAC">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>PROPERTY AND EQUIPMENT (Details) (USD $)<br></strong></div>
        </th>
        <th class="th">
          <div>Dec. 31, 2014</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_PROPERTYANDEQUIPMENTAbstract', window );"><strong>PROPERTY AND EQUIPMENT {2}</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_PermitOfLandUse', window );">Permit of land use</a></td>
        <td class="nump"><a title="fil_PermitOfLandUse" onclick="toggleNextSibling(this);">$ 458,853</a><span style="display:none;white-space:normal;text-align:left;">fil_PermitOfLandUse</span><span></span></td>
        <td class="nump"><a title="fil_PermitOfLandUse" onclick="toggleNextSibling(this);">$ 460,964</a><span style="display:none;white-space:normal;text-align:left;">fil_PermitOfLandUse</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_Building', window );">Building</a></td>
        <td class="nump"><a title="fil_Building" onclick="toggleNextSibling(this);">11,279,704</a><span style="display:none;white-space:normal;text-align:left;">fil_Building</span><span></span></td>
        <td class="nump"><a title="fil_Building" onclick="toggleNextSibling(this);">2,494,623</a><span style="display:none;white-space:normal;text-align:left;">fil_Building</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_PlantMachineryAndEquipmentGross', window );">Plant, machinery and equipment</a></td>
        <td class="nump"><a title="fil_PlantMachineryAndEquipmentGross" onclick="toggleNextSibling(this);">28,358,694</a><span style="display:none;white-space:normal;text-align:left;">fil_PlantMachineryAndEquipmentGross</span><span></span></td>
        <td class="nump"><a title="fil_PlantMachineryAndEquipmentGross" onclick="toggleNextSibling(this);">6,671,620</a><span style="display:none;white-space:normal;text-align:left;">fil_PlantMachineryAndEquipmentGross</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_MotorVehicleGross', window );">Motor vehicle</a></td>
        <td class="nump"><a title="fil_MotorVehicleGross" onclick="toggleNextSibling(this);">150,976</a><span style="display:none;white-space:normal;text-align:left;">fil_MotorVehicleGross</span><span></span></td>
        <td class="nump"><a title="fil_MotorVehicleGross" onclick="toggleNextSibling(this);">151,670</a><span style="display:none;white-space:normal;text-align:left;">fil_MotorVehicleGross</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_OfficeEquipment1', window );">Office equipment</a></td>
        <td class="nump"><a title="fil_OfficeEquipment1" onclick="toggleNextSibling(this);">268,521</a><span style="display:none;white-space:normal;text-align:left;">fil_OfficeEquipment1</span><span></span></td>
        <td class="nump"><a title="fil_OfficeEquipment1" onclick="toggleNextSibling(this);">229,210</a><span style="display:none;white-space:normal;text-align:left;">fil_OfficeEquipment1</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_ConstructionInProgress1', window );">Construction in progress</a></td>
        <td class="nump"><a title="fil_ConstructionInProgress1" onclick="toggleNextSibling(this);">5,848</a><span style="display:none;white-space:normal;text-align:left;">fil_ConstructionInProgress1</span><span></span></td>
        <td class="nump"><a title="fil_ConstructionInProgress1" onclick="toggleNextSibling(this);">25,497,600</a><span style="display:none;white-space:normal;text-align:left;">fil_ConstructionInProgress1</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_TotalPropertyAndEquipment', window );">Total Property and Equipment</a></td>
        <td class="nump"><a title="fil_TotalPropertyAndEquipment" onclick="toggleNextSibling(this);">40,522,596</a><span style="display:none;white-space:normal;text-align:left;">fil_TotalPropertyAndEquipment</span><span></span></td>
        <td class="nump"><a title="fil_TotalPropertyAndEquipment" onclick="toggleNextSibling(this);">35,505,687</a><span style="display:none;white-space:normal;text-align:left;">fil_TotalPropertyAndEquipment</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_LessAccumulatedDepreciationDetails', window );">Less: accumulated depreciation details</a></td>
        <td class="num"><a title="fil_LessAccumulatedDepreciationDetails" onclick="toggleNextSibling(this);">(6,640,718)</a><span style="display:none;white-space:normal;text-align:left;">fil_LessAccumulatedDepreciationDetails</span><span></span></td>
        <td class="num"><a title="fil_LessAccumulatedDepreciationDetails" onclick="toggleNextSibling(this);">(5,264,350)</a><span style="display:none;white-space:normal;text-align:left;">fil_LessAccumulatedDepreciationDetails</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_fil_PropertyAndEquipmentNet', window );">Property and Equipment, net</a></td>
        <td class="nump"><a title="fil_PropertyAndEquipmentNet" onclick="toggleNextSibling(this);">$ 33,881,878</a><span style="display:none;white-space:normal;text-align:left;">fil_PropertyAndEquipmentNet</span><span></span></td>
        <td class="nump"><a title="fil_PropertyAndEquipmentNet" onclick="toggleNextSibling(this);">$ 30,241,337</a><span style="display:none;white-space:normal;text-align:left;">fil_PropertyAndEquipmentNet</span><span></span></td>
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    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_Building">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount before accumulated depreciation of building structures held for productive use including addition, improvement, or renovation to the structure, including, but not limited to, interior masonry, interior flooring, electrical, and plumbing.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_Building</td>
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                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_ConstructionInProgress1">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Gross amount, at the balance sheet date, of long-lived assets under construction that include construction costs to date on capital projects that have not been completed and assets being constructed that are not ready to be placed into service.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_ConstructionInProgress1</td>
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                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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                </table>
              </div>
            </div>
          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_LessAccumulatedDepreciationDetails">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cumulative amount of depreciation, depletion and amortization (related to property, plant and equipment, but not including land) that has been recognized in the income statement.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_LessAccumulatedDepreciationDetails</td>
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                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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          </td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_MotorVehicleGross">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of motor vehicle gross as on the date</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_MotorVehicleGross</td>
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                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_OfficeEquipment1">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Gross amount, at the balance sheet date, of long-lived assets under construction that include construction costs to date on capital projects that have not been completed and assets being constructed that are not ready to be placed into service.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_OfficeEquipment1</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
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          </td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_fil_PermitOfLandUse">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of permit of land use as on the date.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">fil_PermitOfLandUse</td>
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                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>fil_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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                <p>The amount of plant machinery and equipment gross as on the date.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tangible assets that are held by an entity for use in the production or supply of goods and services, for rental to others, or for administrative purposes and that are expected to provide economic benefit for more than one year; net of accumulated depreciation. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.</p>
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                <p>No definition available.</p>
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                <p>Total Property and Equipment</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EME">
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          <div style="width: 200px;"><strong>COMMITMENTS AND CONTINGENCIES<br></strong></div>
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          <div>Dec. 31, 2014</div>
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        <td class="text"><!--egx--><p style='margin:0cm 0cm 0pt'><b><font lang="EN-US">NOTE 14 &#150; COMMITMENTS AND CONTINGENCIES</font></b></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><b><i><font lang="EN-US">Economic environment </font></i></b><b><font lang="EN-US">- </font></b><font lang="EN-US">Substantially all of the Company's operations are conducted in the PRC, and therefore the Company is subject to special considerations and significant risks not typically associated with companies operating in the United States of America. These risks include, among others, the political, economic and legal environments and fluctuations in the foreign currency exchange rate. The Company's results from operations may be adversely affected by changes in the political and social conditions in the PRC, and by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion and remittance abroad, and rates and methods of taxation, among other things. The unfavorable changes in global macroeconomic factors may also adversely affect the Company&#146;s operations.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><font lang="EN-US">In addition, all of the Company's revenue is denominated in the PRC's currency of Renminbi (RMB), which must be converted into other currencies before remittance out of the PRC. Both the conversion of RMB into foreign currencies and the remittance of foreign currencies abroad require approval of the PRC government.</font></p> <p style='margin:0cm 0cm 0pt'>&nbsp;</p> <p style='margin:0cm 0cm 0pt'><b><i><font lang="EN-US">Contractual Commitments &#150;</font></i></b><font lang="EN-US"> The Company entered into purchase and construction agreements during the year ended December 31, 2013 in connection with the construction of a new facility and required manufacturing improvements.&nbsp;&nbsp;Under these agreements, the Company made payments in the amount of $4,637,671 and $25,474,525 during the years ended December 31, 2014 and 2013, respectively. These payments are classified as property and equipment as of December 31, 2014 and as construction in progress on the accompanying balance sheet as of December 31, 2013.</font></p><span></span></td>
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                <p>The entire disclosure for commitments and contingencies.</p>
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                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.25)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6449706&amp;loc=d3e16207-108621<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 460<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 8<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6398077&amp;loc=d3e12565-110249<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 450<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=25496072&amp;loc=d3e14435-108349<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 440<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6394976&amp;loc=d3e25287-109308<br><br><br><br></p>
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