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COMMITMENTS - Note 26
6 Months Ended
Jun. 30, 2011
Notes to Financial Statements  
COMMITMENTS - Note 26

NOTE 26 — COMMITMENTS

 

Operating lease commitments

 

The Company has an operating lease for TCB Digital's premises through TCBGCL, a common shareholder of TCB Digital; pursuant to this lease, the rate of rent is at Rmb 8 per square meter per month for production facilities and dormitory space. The Company also has an operating lease in Beijing for office space shared with Nollec Wireless, with rent at Rmb 137 per square meter per month for 1,409 square meters and with rent at Rmb 131 per square meter per month for 388 square meters. The Company has an operating lease in Hong Kong for the office of CDE, rental and property management fees are HKD10,588 and HKD3,402 respectively per month. The commitments of the Company as of June 30, 2011 for the next 3 years are as follows:

 

       
       
2012   $ 683,591
2013     373,381
2014   -
       
Total minimum lease payments   $ 1,056,972