Note 5 - Related Party Transactions

9 Months Ended

Jun. 30, 2014

Notes

Note 5 - Related Party Transactions

Note 5 – Related Party Transactions

The Company periodically borrows money from its shareholders to finance the operations.  The details of loans from related parties are as follows:

	June 30, 2014		September 30, 2013
Short term:
Chunfei Real Estate	$	670,864	$	856,163
Sichuan Chunfei Daily Chemical		852,680		364,723
Sichuan Shubei Feed Co. Ltd.		62,849		16,260
Sichuan Lanmate Technology Co. Ltd.		-		2,614,811
Jian Zhou, a shareholder		32,480		-
Pu Fachun		1,717,864		1,649,040
Total	$	3,336,737	$	5,500,997
Long term:
Pu Fachun	$	-	$	1,415,868
Total	$	-	$	1,415,868

Sichuan Chunfei Daily Chemicals Co. Ltd (“Daily Chemical”) and Sichuan Chunfei Real Estate (“Chunfei Real Estate”) are owned by Mr. Pu Fachun. Sichuan Shubei Feed Co. Ltd. is owned by Mr. Pu Xidi, son of Mr. Pu Fachun. Sichuan Lanmate Technology Co., Ltd. is owned by Mr. Zhang Qiwei, a member of the Company’s Board of Directors.

The Company recorded imputed interest at 6% per annum and recorded $23,779 and $148,001 for non-interest bearing related party loans for the three and nine months ended June 30, 2014 respectively.

The Company recorded imputed interest of $29,559 and $88,676 for non interest bearing related party loans for the three months and nine months ended June 30, 2013.