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GOVERNMENT GRANTS
3 Months Ended
Mar. 31, 2012
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 three months ended March 31, 2012 or 2011. As of March 31 2012, government grants of $118,031 were recorded as deferred income.