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Bank Loan Payable
3 Months Ended
Jun. 30, 2011
Debt  
Debt Disclosure [Text Block] NOTE 9. BANK LOAN PAYABLE


On November 18, 2004, the Company received a long-term loan from Industrial and Commercial Bank of China, Harbin Branch in the amount of $4,832,960, secured by the Company’s building. The loan had a 5-year term, maturing November 15, 2009. Pursuant to the loan agreement, the interest rate for the first year was set at 7.605%. Starting from the second year and thereafter, the rates become adjustable based on the change of the official rates at the time. On November 13, 2009, the Company obtained an extension for the above loan. The extended loan has a fixed interest rate at 6.534% per annum and matures on December 25, 2011.  In addition to paying the quarterly interest, the Company is also required to make $241,648 pre-determined principal repayments every quarter, with the exception of the final two quarters in 2011, when the quarterly payment will be $302,060.