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Restricted Cash
9 Months Ended
Sep. 30, 2016
Restricted Cash [Abstract]  
Restricted cash

(3) Restricted Cash

 

Restricted cash of $2,246,249 as of September 30, 2016 was presented for the cash deposited at the Bank of Hebei 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 on February 1, 2017.

 

Restricted cash of $10,779,845 as of December 31, 2015 was presented for the cash deposited at the Bank of Hebei, 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 has been lifted upon the maturity of the notes payable from January 7, 2016 through April 23, 2016.