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Assets Held for Sale
9 Months Ended
Sep. 30, 2014
Assets held for sale [Abstract]  
Assets held for sale

(7) Assets held for sale

 

As of December 31, 2013, assets held for sale in the amount of $4,130,590 represented the three employee dormitory buildings to be sold to a related party company controlled by our Chairman and CEO Mr. Zhenyong Liu. The sale was consummated on August 15, 2014 and a gain on disposal of approximately $203,488 was recognized during the three and nine months ended September 30, 2014. Please refer to Note (10) for the details of the related party transaction.