NOTES PAYABLE (DETAILS) - USD ($) |
Oct. 19, 2016 |
Sep. 30, 2016 |
Sep. 16, 2016 |
Dec. 31, 2015 |
Nov. 30, 2015 |
Nov. 30, 2014 |
|---|---|---|---|---|---|---|
| NOTES PAYABLE DETAILS | ||||||
| Revolving line of credit with a bank (RMB) | $ 30,000,000 | |||||
| Revolving line of credit with a bank (Dollars) approx | $ 4,498,169 | |||||
| Revolving line of credit renewed with the bank (RMB) | $ 30,000,000 | |||||
| Revolving line of credit renewed with the bank (Dollars) approx | $ 4,498,169 | |||||
| Annual interest rate based upon 110% of PRC government's current short term rate of 5.6% | 6.16% | 5.60% | ||||
| Line of credit is payable in two equal installments of RMB 15,000,000 | $ 2,250,000 | $ 2,250,000 | ||||
| Annual interest rate based upon 110% of PRC government's current short term rate of 4.6% | 5.06% | |||||
| Outstanding balance due under revolving line of credit (RMB 15,000,000 and RMB 30,000,000) | $ 2,249,085 | $ 4,621,998 |