Note 15 - Short-term Bank Loan

9 Months Ended

Sep. 30, 2016

Notes to Financial Statements

Short-term Debt [Text Block]

15. Short-term bank loan

Short-term bank loan as of September 30, 2016 represented a short-term bank loan of RMB3 million (approximately US$0.45 million) borrowed by one of the Company’s VIEs from a major financial institution in China, under a bank credit facility of RMB5 million (approximately US$0.75 million), to supplement its short-term working capital needs. The short-term bank loan will mature on July 18, 2017. The interest rate of the short-term bank loan is 5.22% per annum, which is 20% over the benchmark rate of the People’s Bank of China (the “PBOC”).