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LIABILITIES
9 Months Ended
Sep. 30, 2013
LIABILITIES [Text Block]

NOTE C – LIABILITIES

As of September 30, 2013, the balance sheet included total liabilities of $6,723,015, which consisted of current liabilities of $5,850,879 and construction payable of $872,136. Included in the current liabilities was a short-term loan of $163,399 (equivalent to RMB1.0 million) from Mr. Fengguo Liu, an unrelated party. The short-term loan is due on January 12, 2014 with an interest rate at 2% per month. Also included in the current liabilities was $3,919,182 of loans from related companies, including Xi’an Yanfeng Biotechnology Co., Ltd., Shaanxi Yanfeng Real Estate Co. Ltd, Shaanxi Chaoying Beauty & Cosmetics Group Co., Ltd and the stockholders who are also the Company’s officers. These entities were related to the Company through common ownership and principal officers. These loans are non-interest bearing and have no set repayment terms.