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RESTRICTED CASH, NOTES PAYABLE - BANK ACCEPTANCES

3 Months Ended

Mar. 31, 2014

Restricted Cash Notes Payable Bank Acceptances [Abstract]

RESTRICTED CASH, NOTES PAYABLE -BANK ACCEPTANCES

4. RESTRICTED CASH, NOTES PAYABLE – BANK ACCEPTANCES

Restricted cash as of March 31, 2014 and December 31, 2013 was $731,458 and $2,296,249, respectively, held by the bank as collateral to issue bank acceptances. The Company endorses bank acceptances to vendors as payment of its own obligations.  Most of the bank acceptances have maturities of less than six months.

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- Definition

Restricted Cash And Cash Equivalents

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