NET INVESTMENT IN SALES-TYPE LEASES

3 Months Ended

Mar. 31, 2013

Investments [Abstract]

NET INVESTMENT IN SALES-TYPE LEASES

3. NET INVESTMENT IN SALES-TYPE LEASES

Under sales-type leases, Xi’an TCH leased TRT systems to Zhangzhi with terms of 5 and 13 years, respectively; and leased CHPG systems to Tong Chuan, Shengwei, and Jing Yang Shengwei respectively for 5 years, BMPG systems to Pucheng for 15 years, BMPG systems to Shenqiu Phase I for 11 years, Shenqiu Phase II for 9.5 years, and a power and steam generating system from waste heat from metal refining to Erdos (five projects) for 20 years. The components of the net investment in sales-type leases as of March 31, 2013 and December 31, 2012 are as follows:

	2013			2012
Total future minimum lease payments receivable	$	399,987,266		$	380,608,263
Less: Executory cost		(113,338,304	)		(113,529,216	)
Less: Unearned interest income		(145,980,151	)		(138,668,584	)
Net investment in sales - type leases		140,668,811			128,410,463
Current portion		11,029,700			10,389,028
Noncurrent portion	$	129,639,111		$	118,021,435

As of March 31, 2013, the future minimum rentals to be received on non-cancelable sales-type leases by years are as follows:

2014	$	38,539,638
2015		30,459,497
2016		29,326,592
2017		29,326,592
2018		29,326,592
Thereafter		243,008,355
Total	$	399,987,266