Note 13 - Operating Leases

6 Months Ended

Jun. 30, 2012

Note 13 - Operating Leases:

Note 13 - Operating Leases

Note 13 – Operating Leases

Future minimum lease payments for operating leases for the succeeding years consists of following:

		July 2012 – June 2013		July 2013 – June 2014		July 2014 and thereafter		Total
Carmel Hill, Hong Kong (Director Quarter)	$	-	$	-	$	-	$	-
25th Floor, Fortis Tower, Hong Kong  (New Hong Kong Office)		312,615		312,615		312,615		937,845
Union Building, Shanghai, China (Shanghai Office)		8,384		-		-		8,384
Union Building, Shanghai, China  (ALM Shanghai Office)		12,916		-		-		12,916
Union Building, Shanghai, China  (SHB Office)		14,208		-		-		14,208
Sino Plaza, Fuzhou (Fuzhou Office)		40,938		42,756		3,563		87,257
Total	$	389,061	$	355,371	$	316,178	$	1,060,610

The Company has seven material operating lease commitments for its facilities.  For details of the leases, see notes to the consolidated financial statements included in the Company’s annual report of Form 10-K for the year ended December 31, 2011 filed with the SEC.