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OTHER RECEIVABLES, DEPOSITS AND PREPAYMENTS (Tables)
9 Months Ended
Sep. 30, 2012
Other Receivables Deposits and Prepayments [Abstract]  
Other Receivables and Prepayments

Other receivables, deposits and prepayments consisted of the following:

 

  September 30,  December 31, 
  2012  2011 
Prepaid research and development costs $506,784  $1,154,704 
Prepaid insurance  378,000   123,250 
Other receivables  86,475   24,675 
Utility deposits  78,852   79,354 
Recoverable input VAT  -   467,858 
Other prepayments  -   33,023 
Less: Allowance for valuation and doubtful debts  -   - 
         
  $1,050,111  $1,882,864