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FAIR VALUE MEASUREMENTS (Tables)
12 Months Ended
Dec. 31, 2014
FAIR VALUE MEASUREMENTS (Tables)  
Assets Fair Value

The Company held the following assets and liabilities recorded at fair value as of December 31, 2014 and 2013:

 

 

 

 

 

 

Fair Value Measurements at

 

 

 

 

 

 

Reporting Date Using

 

Description

 

December 31, 2014

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Banker's acceptance notes

 

$

458,233

 

 

$

-

 

 

$

458,233

 

 

$

-

 

Total

 

$

458,233

 

 

$

-

 

 

$

458,233

 

 

$

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value Measurements at

 

 

 

 

 

 

 

Reporting Date Using

 

Description

 

December 31, 2013

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Banker's acceptance notes

 

$

336,003

 

 

$

-

 

 

$

336,003

 

 

$

-

 

Total

 

$

336,003

 

 

$

-

 

 

$

336,003

 

 

$

-