SHORT-TERM LOANS

12 Months Ended

Dec. 31, 2011

SHORT-TERM LOANS [Text Block]

7.   SHORT-TERM BANK LOANS

Short-term bank loans consist of the following loans collateralized by assets of the Company:

	December 31,
	2011		2010
Loan payable to China Construction Bank due on February 4, 2012, bearing interest at 4.4794% per annum, collateralized by certain accounts receivable of SkyPeople (China) This loan was paid off in January 2012	$	420,387	$	-
Loan payable to China Citck Bank due on February 3, 2012, bearing interest at 4.19465% per annum, collateralized by certain accounts receivable of SkyPeople (China) This loan was paid off by February 2012		720,367		-
Loan payable to Bank of Huludao, Suizhong branch due on June 22, 2012, bearing interest at 10.727% per annum, collateralized by the buildings, machinery and land usage rights of Huludao Wonder		5,284,959		5,043,696
Loan payable to China Construction Bank due on December 5, 2011, bearing interest at 5.56% per annum, collateralized by the office building of SkyPeople (China), the production line of the Jiangyang factory and a personal guarantee provided by the Company’s CEO, Mr. Xue, Yongke and Mr. Xue, Hongke, chairman of the board of directors and chief executive officer of SkyPeople (China)		-		2,468,837
Loan payable to China Citic Bank due on December 2, 2011, bearing interest at 4.8% per annum, secured by the guarantee provided by Shaanxi Boai Pharmaceutical & Scientific Development Co., Ltd. and a personal guarantee provided by the Company’s CEO, Mr. Xue, Yongke		-		2,726,323
	$	6,425,713	$	10,238,856