Construction in Progress

12 Months Ended

Dec. 31, 2013

Construction in Progress [Abstract]

CONSTRUCTION IN PROGRESS

7.        CONSTRUCTION IN PROGRESS

As of December 31, 2013 and 2012, the Company had construction in progress of $0 and $761,726 respectively. The construction in progress as of December 31, 2012 represents the leasehold improvement projects for the 7 showrooms that Xinyu Xingbang leased from October 1, 2012 to September 30, 2016. As of December 31, 2013, the Company had completed the construction of the showrooms.

Xinyu Xingbang leases these showrooms from Xinyu Industry under an operating lease at a monthly rental of $46,570. Mr. Yao and his spouse own 90% and 10% respectively, of the registered capital of Xinyu Industry. The lease agreement was terminated as of December 31, 2013. See Notes 5 and 14.