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ACCRUED LIABILITIES AND OTHER PAYABLES (Tables)

12 Months Ended

Dec. 31, 2014

Accounts Payable and Accrued Liabilities, Current [Abstract]

Accrued Liabilities and Other Payables

Accrued liabilities and other payables consisted of the following as of December 31, 2014 and 2013:

		2014			2013
Employee training, labor union expenditure and social insurance payable		$	693,969		$	521,373
Consulting, auditing, and legal expenses			537,973			403,860
Accrued payroll and welfare			304,512			318,871
Accrued system maintenance expense			-			49,205
Accrued interest expense			1,439,770			71,902
Other			274,520			151,980
Total		$	3,250,744		$	1,517,191

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- Definition

Tabular disclosure of the (a) carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business (accounts payable); (b) other payables; and (c) accrued liabilities. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). An alternative caption includes accrued expenses.

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No definition available.

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