NOTES RECEIVABLE

3 Months Ended

Mar. 31, 2015

NOTES RECEIVABLE [Text Block]

NOTE 12 - NOTES RECEIVABLE

Notes receivable are summarized as follows:

		March 31,		December 31,
		2015		2014
Notes receivable from unrelated companies:
Due September 30, 2015, interest at 9.6% per annum	$	9,614,140	$	8,117,888
Bank acceptance notes		1,125,226		942,553
Notes receivable	$	10,739,366	$	9,060,441

Details of Notes receivable are as below as of March 31, 2015

Index	Amount ($)	Counter party	Relationship	Nature	Manner of settlement
1	9,614,140	Yongkang HuiFeng Guarantee Co., Ltd	No relationship beyond loan	interest income	Not due
2	1,125,226	Kandi Changxing	Subsidiary of JV company	payment for sales	Not due

Details of Notes receivable are as below as of December 31, 2014

Index	Amount ($)	Counter party	Relationship	Nature	Manner of settlement
1	8,117,888	Yongkang HuiFeng Guarantee Co., Ltd	No relationship beyond loan	Receive interest income	Not due
2	942,553	Kandi Changxing	Subsidiary of JV company	payment for sales	Not due