RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2013

9. RELATED PARTY TRANSACTIONS

As of December 31, 2013, due to related parties totaled $2,420,391, including $2,379,734 advance from the Company’s CEO which was repaid in February 24, 2014; and $40,657 in advances from the Company’s management, which bore no interest, and were payable on demand.

As of December 31, 2012, advances to related parties totaled $440,987, including $481,863 to Erdos, as a receivable for maintenance fee and tax expense, net of a $40,876 in advances from the Company’s management, which bore no interest, and were payable on demand.

Erdos TCH sold all power generation stations through sales type leases to Erdos Metallurgy Co., Ltd., the non-controlling interest holder, Erdos Metallurgy sold all its ownership shares in Erdos TCH to Xi’an TCH; as a result Erdos Metallurgy is no longer a related party (See note 1).

- Definition

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.

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