Note 6 - Short Term Loans and Long Term Loans: Schedule of Debt (Tables)

9 Months Ended

Jun. 30, 2015

Tables/Schedules

Schedule of Debt

		June 30, 2015		September 30, 2014
a) Loan payable to Nanchong City Bureau of Finance due on demand, fixed interest rate of 0.465% per month	$	-	$	650,047
b) Loan payable to Nanchong Commercial Bank, due on March 7, 2015, at a fixed interest rate of 6.9% per annum, guaranteed by a third party		-		812,559
c) Loan payable to Nanchong Commercial Bank, due on  July 23, 2015, at a fixed interest rate of 6.9% per annum, guaranteed by a third party		816,000		812,559
d) Loan payable to Nanchong Commercial Bank, due on March 23, 2016, at a fixed interest rate of 6.1525% per annum, guaranteed by a third party		816,000		-
e) Loan payable to Bank of Communications due on July 27, 2015, at an interest rate of 7.8% per annum and  guaranteed by a third party  and Mr. Pu, Chairman and CEO of the Company		816,000		812,559
f) Individual loans from unrelated parties, which are due on demand and bearing a weighted average interest rate of 2.68% per month		9,206,503		7,008,727
Total Short Term Loans	$	11,654,503	$	10,096,451
a) Individual loans from unrelated parties bearing a weighted average interest rate of 2.73% per month		1,270,310*		1,462,094
b) Individual loans from various investors, bearing interest of 12% per annum and due on July 1, 2015, as extended		100,000	100,000
c) Loan payable to Jialing Rural Credit Cooperative Union due on December 19, 2015 at an interest rate of 10.764% per annum, secured by Chunfei Chemical’s real property and Chunfei Real Estate’s real property		4,732,800		4,712,842
Less: current portion of long term loans		(6,103,110)		(1,508,465)
Total Long Term Loans	$	-	$	4,766,471