2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Mar. 31, 2014

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) [Line Items]

Schedule of Product Warranty Liability [Table Text Block]

The Company’s warranty reserve activity for the three months ended March 31, 2014 and year ended December 31, 2013 is as follows:

	2014			2013
Balance at beginning of period	$	8,188		$	9,790
Foreign currency translation loss		(54	)		(1,602	)
Actual costs incurred					-
Ending balance (accrued expense)	$	8,134		$	8,188

Revenue from External Customers by Products and Services [Table Text Block]

Following is a summary of sales by products for the three months ended March 31, 2014 and 2013:

	2014		2013
Bellows expansion joints and related	$	260,202	$	130,301
Pressure vessels (heat exchanger)		239,963		-
Other – high temperature compensators		61,050		122,518
Forging products		1,366,378		-
Total	$	1,927,593	$	252,819

Property, Plant and Equipment, Useful Lives [Member]

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) [Line Items]

Property, Plant and Equipment [Table Text Block]

Depreciation of property and equipment is provided using the straight-line method for substantially all assets with 5% salvage value and estimated lives as follows:

Buildings	40			Years
Machinery	5	-	15	Years
Vehicles	5			Years
Office equipment	5			Years
Testing equipment	10			Years