Due to Related Party

6 Months Ended

Jun. 30, 2012

Due to Related Party

Due to Related Party

Note 12. Due to Related Party

Due to related parties at June 30, 2012 and December 31, 2011 consist of the following:

	June 30 2012	December 31 2011
	$	$
American Pacific Medical Group Limited	450,359	410,000
Physician Medical Technology (Shenzhen) Co. Ltd.	317,000	-
	767,359	410,000

During the year ended December 31, 2011, $410,000 was borrowed from a related party for redemption of outstanding preferred stocks of daifu. The amount earns interest at 7% per annum. A further $25,641 was borrowed during the six month period ended June 30, 2012, with an annual interest rate of 7%. During the six month period ended June 30, 2012 a total of $14,718 in interest has been accrued on the liability. 

During the six month period ended June 30, 2012, $317,000 cash was temporarily advanced from a related party to daifu for operating use. This amount is unsecured, non-interest bearing and is repayable on request.