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Note 9 - Construction Security Deposits
3 Months Ended
Jun. 30, 2012
Note 9 - Construction Security Deposits:  
Note 9 - Construction Security Deposits

NOTE 9 – CONSTRUCTION SECURITY DEPOSITS

 

The Company requires security deposits from its plant and building contractors prior to start of the construction. The deposits are to be refunded upon officially certification of the completion of the work within the specified time. The purpose of the security deposits is to protect the Company from unexpected delays and poor construction quality.

 

The Company offers no interest on the security deposits. As of June 30, 2012 and September 30, 2011, the balance of the construction security deposits was $47,409 and $88,547, respectively.