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OTHER RECEIVABLES, DEPOSITS AND PREPAYMENTS (Tables)
 6 Months Ended
Jun. 30, 2012
Other Receivables and Prepayments

Other receivables, deposits and prepayments consisted of the following:

 

    June 30,     December 31,  
    2012     2011  
Prepaid research and development costs   $ 817,020     $ 1,154,704  
Utility deposits     79,053       79,354  
Other prepayments     32,897       33,023  
Other receivables     59,752       24,675  
Recoverable input VAT     -       467,858  
Prepaid insurance     486,000       123,250  
Less: Allowance for valuation and doubtful debts     -       -  
                 
    $ 1,474,722     $ 1,882,864