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Note 6 - Other Current Assets
6 Months Ended
Mar. 31, 2013
Notes  
Note 6 - Other Current Assets

 

Note 6 – Other Current Assets

 

Other current assets include a note receivable from a third party in the amount of $718,200 as of March 31, 2013. The note receivable is related to a bank note payable. A certain amount of cash was required by the bank to be deposited by a third party as a guarantee for the note payable issued to the Company to pay its vendor. A cash payment of $718,200 was made to the third party who deposited it into the bank as guarantor and was recorded by the Company as note receivable. As of March 31, 2013 and September 30, 2012, the Company has other current assets of $774,872 and $19,091, respectively.