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GOVERNMENT GRANTS
9 Months Ended
Sep. 30, 2011
GOVERNMENT GRANTS [Text Block]

Note 5 - GOVERNMENT GRANTS

Receipts of government grants to encourage research and development activities which are non-refundable are credited to deferred income upon receipt. The Company recognizes government grants income when the government completes inspection on the regulated use of the grants by issuing the certificate. There was no government grants income recognized for the nine months ended September 30, 2011 and 2010. As of September 30, 2011, government grants of $116,398 were recorded as deferred income.