Note 3 - PREPAID EXPENSES AND OTHER RECEIVABLES

6 Months Ended

Jun. 30, 2011

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block]

Note 3 – PREPAID EXPENSES AND OTHER RECEIVABLES

Prepaid expenses and other receivables consisted of the following:

	June 30,		December 31,
	2011		2010
	(Unaudited)
Deposit for research and development	$	1,294,677	$	1,247,694
Other receivables		1,333		3,703
	$	1,296,010	$	1,251,397