XML 108 R12.htm IDEA: XBRL DOCUMENT v2.4.0.8
RESTRICTED CASH
6 Months Ended
Jun. 30, 2013
Restricted Cash and Investments [Abstract]  
RESTRICTED CASH
NOTE 7 – RESTRICTED CASH
 
On November 1, 2012, Guizhou Taibang entered into an agreement with the Financial Bureau of Huaxi District, Guiyang City. Pursuant to the agreement, the Financial Bureau of Huaxi District provided $2,972,700 (equivalent RMB18,350,000) to Guizhou Taibang to subsidize the technical upgrade in respect of the new GMP standard (see Note 6). The agreement is valid for a three-year period. The usage of this fund must be under the supervision of the Financial Bureau of Huaxi District and cannot be used for other purposes. During the six months ended June 30, 2013, $186,198 was used in the technical upgrade in respect of the new GMP standard.