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SUBSIDY INCOME
12 Months Ended
Dec. 31, 2015
SUBSIDY INCOME:  
SUBSIDY INCOME

NOTE 10 – SUBSIDY INCOME

 

During 2015, the Company received cash of $1.64 million related to a subsidy from the government for the technological innovation it has achieved and the industrial upgrading related to its new GMP certified facility. In 2014, the Company received cash of $65,113 as a subsidy from the government for the enterprises that suffered losses from the typhoon to resume production.  Theses amounts have been recorded as "Subsidy income" in the accompanying Statement of Operations for the years ended December 31, 2015 and 2014, respectively.