Annual report pursuant to Section 13 and 15(d)

Short - term Loan

v2.4.0.8
Short - term Loan
12 Months Ended
Dec. 31, 2012
Notes to Financial Statements  
Note 6. Short-term Loan

On March 22, 2012, the Company entered into a six-month loan agreement with a third party for the amount of $79,282 (RMB500,000 equivalents) with collateral of 879,196 common shares of the company provided to the third party. The loan was repayable on September 20, 2012. The due date of the loan was extended and was settled on January 10, 2013, and the collateral was returned to the Company accordingly.