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Loans Payable (Details Textual)
0 Months Ended 3 Months Ended 9 Months Ended 9 Months Ended 0 Months Ended 9 Months Ended 9 Months Ended 9 Months Ended 9 Months Ended 0 Months Ended 9 Months Ended
Jul. 15, 2013
Sep. 30, 2014
USD ($)
Sep. 30, 2013
USD ($)
Sep. 30, 2014
USD ($)
Sep. 30, 2013
USD ($)
Dec. 31, 2013
USD ($)
Sep. 30, 2014
Rural Credit Union of Xushui County [Member]
USD ($)
Dec. 31, 2013
Rural Credit Union of Xushui County [Member]
USD ($)
Sep. 30, 2014
Term Loan [Member]
Rural Credit Union of Xushui County [Member]
USD ($)
Dec. 31, 2013
Term Loan [Member]
Rural Credit Union of Xushui County [Member]
USD ($)
Sep. 30, 2014
New term loan agreement [Member]
Rural Credit Union of Xushui County [Member]
USD ($)
Dec. 31, 2013
New term loan agreement [Member]
Rural Credit Union of Xushui County [Member]
USD ($)
Sep. 30, 2014
Lease financing agreement [Member]
USD ($)
Sep. 02, 2013
ICBC Loan 1 [Member]
Sep. 02, 2013
ICBC Loan 1 [Member]
June 5, 2014 [Member]
USD ($)
Sep. 02, 2013
ICBC Loan 1 [Member]
August 15, 2014 [Member]
USD ($)
Sep. 30, 2014
ICBC Loan 1 [Member]
Factoring Facility [Member]
USD ($)
Dec. 31, 2013
ICBC Loan 1 [Member]
Factoring Facility [Member]
USD ($)
Sep. 30, 2014
ICBC Loan 2 [Member]
Factoring Facility [Member]
USD ($)
Dec. 31, 2013
ICBC Loan 2 [Member]
Factoring Facility [Member]
USD ($)
Sep. 30, 2014
ICBC Loan 3 [Member]
Factoring Facility [Member]
USD ($)
Dec. 31, 2013
ICBC Loan 3 [Member]
Factoring Facility [Member]
USD ($)
Sep. 30, 2014
ICBC Loan 4 [Member]
Factoring Facility [Member]
USD ($)
Dec. 31, 2013
ICBC Loan 4 [Member]
Factoring Facility [Member]
USD ($)
Sep. 30, 2014
ICBC Loan 5 [Member]
Factoring Facility [Member]
USD ($)
Dec. 31, 2013
ICBC Loan 5 [Member]
Factoring Facility [Member]
USD ($)
Jun. 16, 2013
China National Foreign Trade Financial & Leasing Co. [Member]
Lease financing agreement [Member]
USD ($)
Jun. 16, 2013
China National Foreign Trade Financial & Leasing Co. [Member]
Lease financing agreement [Member]
CNY
Sep. 30, 2014
China National Foreign Trade Financial & Leasing Co. [Member]
Collateral Agreement [Member]
USD ($)
sqm
Sep. 30, 2014
The Commercial Bank of the City of Zhangjiakou [Member]
Factoring Facility [Member]
USD ($)
Dec. 31, 2013
The Commercial Bank of the City of Zhangjiakou [Member]
Factoring Facility [Member]
USD ($)
Loans Payable (Textual)                                                              
Unpaid balance of short term debt   $ 8,126,778   $ 8,126,778   $ 6,544,288                        [1] $ 4,090,180 [1]    [2] $ 818,036 [2] $ 1,625,356 [3] $ 1,636,072 [3] $ 2,438,033 [4]    [4] $ 812,678 [5]    [5]       $ 3,250,711 [6]    [6]
Short-term bank loans, fixed interest rate                           6.90%         6.60%   6.60%   6.60%   6.60%         11.88%  
Short-term bank loans interest rate as percentage of prime rate                           115.00%         110.00%   10.00%   110.00%   110.00%            
Loan, maturity date                                     Aug. 04, 2014   Oct. 21, 2014   Jun. 25, 2015   Jun. 11, 2015         Jun. 09, 2015  
Loan paid off date                             Jun. 05, 2014 Aug. 15, 2014                              
Notes payable   21,129,622   21,129,622   4,908,216                 813,921 3,250,553                              
Accounts receivable   4,162,160   4,162,160   3,327,494                                                  
Average short-term borrowing rates   8.20% 6.65% 7.24% 6.62%                                                    
Outstanding loan balance of credit union   1,600,975   1,600,975                                                      
Loans from credit union   5,761,885   5,761,885   4,253,788 5,875,660 5,914,401 1,600,975 1,611,531 4,274,685 4,302,870                                      
Long-term debt, Interest rate per month             0.72%   0.72%   0.72% 0.72%                                      
Security loan agreement by manufacturing equipment   16,956,708   16,956,708   21,901,456                                                  
Current portion of long-term loans from credit union   113,775   113,775   1,660,613   1,611,531 48,761   65,014 49,082                                      
Interest expense for the short-term bank loans and long-term loans   307,746 207,807 778,472 592,184                                                    
Total financing proceeds                                                     24,000,000 150,000,000      
Proceeds from sale of paper manufacturing equipment to leasing company          24,148,756                                           24,000,000 150,000,000      
Nominal purchase price                                                     2,400 15,000      
Lease service charge       Equal to 5.55% of the amount financed.                                                      
Implicit interest rate                                                     6.15% 6.15%      
Stated capital lease                                                     25,750,170        
Long-term obligations under capital lease   8,135,569   8,135,569   12,296,639                                                  
Current obligations under capital lease   8,186,242   8,186,242   8,264,795                                                  
Deferred gain on sale of leased equipment   806,870   806,870   1,160,271             1,379,282                                    
Assets pledged for the guarantee of Orient Paper HB's capital lease   33,820,493   33,820,493   36,134,038                                                  
Value of land use right pledged for sale-leaseback financing   7,337,989   7,337,989   7,502,794                                             7,376,183    
Land collateral for capital lease                                                         58,566    
Loan extension period 5 years                                                            
Installment repayment description Between December 21, 2013 and July 26, 2018.               The loan balance would be repayable by various installments through June 21, 2014 to November 18, 2018.                                            
Total interest expenses for the sale-leaseback arrangement   207,830 114,041 717,058 1,174,495                                                    
Interest Portion of Minimum Lease Payments, Sale Leaseback Transactions   1,350,000   1,350,000                                                      
Secured short-term borrowings   4,876,067   4,876,067                                                      
Unsecured bank loans   $ 3,250,711   $ 3,250,711                                                      
[1] On September 2, 2013, the Company entered into a working capital loan agreement with the ICBC for $4,090,180 as of December 31, 2013, for which $813,921 was paid on June 5, 2014 and $3,250,553 was paid on August 15, 2014. The loan bears an interest rate of 115% over the primary lending rate of the People's Bank of China and was at 6.9% per annum at the time of funding. The Company paid off the principal balance and interest by August 15, 2014. Concurrent with the signing of the working capital loan agreement, the Company also entered into an agreement with the ICBC, which provided account management services to the Company during the terms of the underlying loan. The working capital loan was guaranteed by Hebei Fangsheng Real Estate Development Co. Ltd. ("Hebei Fangsheng") with the land use right on our Headquarters Compound pledged by Hebei Fangsheng as collateral for the benefit of the bank. The land use right on our Headquarters Compound was acquired by Hebei Fangsheng from the Company on August 9, 2013 (see Note (10) for the related party transaction). Hebei Fangsheng is controlled by the Company's Chairman and CEO Mr. Zhenyong Liu.
[2] On September 6, 2013, the Company obtained a new accounts receivable factoring facility from the ICBC for $818,036 as of December 31, 2013. Under the factoring agreement, the bank has recourse against the Company if the receivables, which remained in the Company's books at all times, are not fully collected. The factoring facility expired on August 4, 2014 and bore an interest rate of 110% of the primary lending rate of the People's Bank of China and was at 6.6% per annum at the time of funding. The Company paid off the principal balance and interest under the factoring facility on August 4, 2014.Concurrent with the signing of the new factoring agreement, the Company also entered into a financial service agreement with the ICBC, which provided accounts receivable management services to the Company during the terms of the underlying factoring facility. The factoring facility was personally guaranteed by the Company's Chairman and CEO Mr. Zhenyong Liu.
[3] On December 3, 2013, the Company obtained from the ICBC an accounts receivable factoring facility with a maximum credit limit of $1,625,356 and $1,636,072 as of September 30, 2014 and December 31, 2013, respectively. Under the factoring agreement, the bank has recourse against the Company if the receivables, which remain in the Company's books at all times, are not fully collected. The term of the factoring facility expires on October 21, 2014 and carries an interest rate of 6.6% per annum, or 1.0% plus the prime rate for the loan set forth by the People's Bank of China at the time of funding. The unpaid balance of the loan was in the amount of $1,625,356 as of September 30, 2014.
[4] On June 26, 2014, the Company obtained a new accounts receivable factoring facility from the ICBC for $2,438,033 as of September 30, 2014. Under the factoring agreement, the bank has recourse against the Company if the receivables, which remain in the Company's books at all times, are not fully collected. The factoring facility will expire on June 25, 2015 and bears an interest rate of 110% of the primary lending rate of the People's Bank of China and was at 6.6% per annum at the time of funding. Concurrent with the signing of the new factoring agreement, the Company also entered into a financial service agreement with the ICBC, which provides accounts receivable management services to the Company during the terms of the underlying factoring facility.
[5] On August 19, 2014, the Company obtained a new accounts receivable factoring facility from the ICBC for $812,678 as of September 30, 2014. Under the factoring agreement, the bank has recourse against the Company if the receivables, which remain in the Company's books at all times, are not fully collected. The factoring facility will expire on June 11, 2015 and bears an interest rate of 110% of the primary lending rate of the People's Bank of China and was at 6.6% per annum at the time of funding.
[6] On July 18, 2014, the Company entered into a working capital loan agreement with the Commercial Bank of the City of Zhangjiakou for $3,250,711 as of September 30, 2014. The loan will expire on June 9, 2015 and bears an interest rate of 11.88% which is guaranteed by Zhenyong Liu and Shijiazhuang Baode Guarantee Service Company.