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Prepayments and Other Current Assets | 12 Months Ended
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Dec. 31, 2013
Prepayments and Other Current Assets [Abstract] |
Prepayments and other current assets | (5) Prepayments and other current assets Prepayments and other current assets consisted of the following as of December 31, 2013 and 2012:
|  | December 31, |  |  | December 31, |
|  | 2013 |  |  | 2012 |
Prepaid NYSE MKT annual fee |  | $ | 7,500 |  |  | $ | 6,875 |
Recoverable VAT |  |  | 500,000 |  |  |  | 4,784,074 |
Prepaid insurance |  |  | 61,529 |  |  |  | 55,922 |
Prepayment for purchase of materials |  |  | 8,180 |  |  |  | 77,445 |
Prepaid land lease |  |  | 490,822 |  |  |  | 475,541 |
Others |  |  | - |  |  |  | 1,848 |
|  | $ | 1,068,031 |  |  | $ | 5,401,705 |
As of December 31, 2013, the Company recorded a total recoverable VAT of $3,777,188, out of which $3,277,188 presented as non-current asset in the consolidated balance sheet. As of December 31, 2012, the Company recorded the entire balance of recoverable VAT of $4,784,074 as current asset under prepayments and other current assets in the consolidated balance sheet.

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- Definition The disclosure describes the Company's prepaid and other current assets. + References No definition available. + Details
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- Details
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