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RESTRICTED CASH, NOTES PAYABLE - BANK ACCEPTANCES
9 Months Ended
Sep. 30, 2011
RESTRICTED CASH, NOTES PAYABLE - BANK ACCEPTANCES
4. RESTRICTED CASH, NOTES PAYABLE – BANK ACCEPTANCES
 
Restricted cash as of September 30, 2011 and December 31, 2010 was $0 and $2,151,690, respectively, held by the bank as collateral to issue bank acceptances. The Company endorses bank acceptances to vendors as payment of their own obligations. Most of the bank acceptances have maturities of less than six months. As of September 30, 2011 and December 31, 2010, the Company had bank acceptances of $0 and $2,868,921, respectively.