INCOME TAXES (Tables)

9 Months Ended

Sep. 30, 2015

Schedule of the differences between the statutory and effective tax expenses [Table Text Block]

		9/30/2015			9/30/2014
Income attributed to PRC & Europe	$	2,998,352		$	7,718,719
Loss attributed to US		(1,336,639	)		(627,323	)
Income/(loss) before tax		1,661,713			7,091,396
PRC Statutory Tax at 25% Rate		2,255,036			2,378,889
Effect of tax exemption granted Income tax	$	2,255,036		$	2,378,889

Schedule Of per Share Effect of Tax Exemption [Table Text Block]

		9/30/2015		9/30/2014
Effect of tax exemption granted	$	-	$	-
Weighted-Average Shares Outstanding Basic		35,944,490		34,873,699
Per share effect	$	-	$	-

Schedule of difference between the U.S. federal statutory income tax rate and the Companys effective tax rate [Table Text Block]

	9/30/2015	9/30/2014
U.S. federal statutory income tax rate	35%	35%
Lower rates in PRC, net	- 10%	- 10%
Tax holiday for foreign investments	110%	8.55%
The Company’s effective tax rate	135%	33.55%

Schedule of tax rates for its subsidiaries [Table Text Block]

	China Income Tax Rate
Subsidiary	2015	2014
Junan Hongran	25%	25%
Luotian Lorain	25%	25%
Beijing Lorain	25%	25%
Shandong Lorain	25%	25%
Shandong Greenpia	25%	25%
Dongguan Lorain	25%	25%