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Restricted Cash
3 Months Ended
Mar. 31, 2015
Restricted Cash [Abstract]  
Restricted Cash

(3) Restricted Cash

 

Restricted cash of $5,047,052 as of March 31, 2015 was presented for the cash deposited at the Shanghai Pudong Development Bank (“SPD Bank”) and the Commercial Bank of the City of Zhangjiakou for purpose of securing the bank acceptance notes from the bank (see Note (10)). The restriction will be lifted upon the maturity of the notes payable from April 14 through July 22 during the year of 2015.

 

Restricted cash of $8,873,999 as of December 31, 2014 was presented for the cash deposited at the Bank of Hebei, SPD Bank and the Commercial Bank of the City of Zhangjiakou for purpose of securing the bank acceptance notes from these banks (see Note (10)). The restriction will be lifted upon the maturity of the notes payable from January 7, 2015 through April 23, 2015.