LOAN PAYABLE, RELATED PARTIES

12 Months Ended

Dec. 31, 2012

LOAN PAYABLE FROM A RELATED PARTY

LOAN PAYABLE FROM A RELATED PARTY

NOTE 10 – LOANS PAYABLE, RELATED PARTIES

As of December 31, 2012, the loan amounted to $588,657 with Mr. Zhang, the director of the Company, due April 2, 2014, which was unsecured, carried annual interest at Bank of China Benchmark Lending Rate and payable in a monthly installment.

Amount due to Mr. Zhang	$	588,657
Less: current portion		(63,639)
Long-term portion	$	525,018

As of December 31, 2012, the minimum future payments of the aggregate loan due to a related party in the next two years are as follows:

Years ending December 31:
2013	$	63,639
2014		525,018
Total:	$	588,657