LOANS PAYABLE (Tables)

3 Months Ended

Mar. 31, 2013

Future Minimum Payment to be made by Years

As of March 31, 2013, the future minimum payment to be made by years was as follows: 

2013	$	1,655,792
2014		1,655,792
2015		1,655,792
2016		413,947
Total	$	5,381,323
Unamortized interest		(678,651	)
Total long term payable		4,702,672
Current portion		1,321,309
Noncurrent portion	$	3,381,363

Bank Loans [Member]

Future Minimum Payment to be made by Years

As of March 31, 2013, the future minimum repayment of all the bank loans to be made by years was as follows:

2014	$	14,037,550
2015		6,380,706
2016		3,190,352
Total	$	23,608,608