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Statutory Reserves (Narrative) (Details) (USD $)
9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Dec. 31, 2012
Statutory Reserves Narrative Details      
Statutory Accounting Practices, Statutory to GAAP, Description of Reconciling Item

As stipulated by the Company Law of the PRC, net income after taxation can only be distributed as dividends after appropriation has been made for the following:

i) Making up cumulative prior years' losses, if any;

ii) Allocations to the "Statutory surplus reserve" of at least 10% of income after tax, as determined under PRC accounting rules and regulations, until the fund amounts to 50% of the Company's registered capital;

iii) Allocations of 5-10% of income after tax, as determined under PRC accounting rules and regulations, to the Company's "Statutory common welfare fund", which is established for the purpose of providing employee facilities and other collective benefits to the Company's employees; and Statutory common welfare fund is no longer required per the new cooperation law executed in 2006.

iv) Allocations to the discretionary surplus reserve, if approved in the shareholders' general meeting.

 

 

 

   
Statutory surplus reserve $ 737,623   $ 702,539
Increase in statutory surplus reserve $ 0 $ 0