Related Parties Transactions (Tables)
|
6 Months Ended |
Jun. 30, 2015 |
|---|
| Related Party Transaction [Line Items] |
|
| Schedule of prepaid expenses - related parties |
| |
|
June 30,
2015 |
|
|
December 31,
2014 |
|
| Prepaid fuel cost and other items to PT. Avona Mina Lestari (1) |
|
$ |
2,356,412 |
|
|
$ |
1,632,352 |
|
| Prepaid fuel cost to Hai Yi Shipping Limited (2) |
|
|
5,378,438 |
|
|
|
2,070,023 |
|
| Prepaid fuel cost to Haifeng Dafu Enterprise Company Limited (3) |
|
|
871,817 |
|
|
|
399,735 |
|
| Prepaid fuel cost to Hong Fa Shipping Limited (4) |
|
|
4,799,529 |
|
|
|
1,854,131 |
|
| Prepaid fuel cost to PT. Dwikarya Reksa Abadi (5) |
|
|
1,373,652 |
|
|
|
1,363,734 |
|
| |
|
$ |
14,779,848 |
|
|
$ |
7,319,975 |
|
|
| Schedule of deferred expenses - related parties |
| |
|
June 30,
2015 |
|
|
December 31,
2014 |
|
| Prepaid fishing licenses application fees to PT. Avona Mina Lestari |
|
$ |
109,690 |
|
|
$ |
764,787 |
|
| Prepaid fishing licenses application fees to Hong Long (1) |
|
|
14,813 |
|
|
|
264,327 |
|
| |
|
$ |
124,503 |
|
|
$ |
1,029,114 |
|
|
| Schedule of other receivable - related parties |
| Name of related parties |
|
June 30,
2015 |
|
|
December 31,
2014 |
|
| Zhiyan Lin |
|
$ |
4,089,476 |
|
|
$ |
- |
|
| Honghong Zhuo |
|
|
9,542,110 |
|
|
|
- |
|
| |
|
$ |
13,631,586 |
|
|
$ |
- |
|
|
| Schedule of accounts payable - related parties |
| Name of related parties |
|
June 30,
2015 |
|
|
December 31, 2014 |
|
| Hai Yi Shipping Limited |
|
$ |
298,398 |
|
|
$ |
- |
|
| Hong Long |
|
|
13,069 |
|
|
|
2,601,314 |
|
| Ping Lin |
|
|
1,150 |
|
|
|
- |
|
| |
|
$ |
312,617 |
|
|
$ |
2,601,314 |
|
|
| Schedule of due to related parties |
| |
|
June 30,
2015 |
|
|
December 31,
2014 |
|
| Advance from Hong Fa Shipping Limited |
|
$ |
1,000,000 |
|
|
$ |
1,000,000 |
|
| Advance from Xinrong Zhuo, Chief Executive Officer |
|
|
3,350 ,000 |
|
|
|
1,350,000 |
|
| Accrued compensation for Xinrong Zhuo |
|
|
3,354 |
|
|
|
3,352 |
|
| Accrued compensation for Roy Yu, Chief Financial Officer |
|
|
20,000 |
|
|
|
20,000 |
|
| |
|
$ |
4,373,354 |
|
|
$ |
2,373,352 |
|
|
| Schedule of purchases from related parties |
| |
|
Three Months Ended
June 30, |
|
|
Six Months Ended
June 30, |
|
| |
|
2015 |
|
|
2014 |
|
|
2015 |
|
|
2014 |
|
| Purchase of fuel, fishing nets and other on board consumables |
|
|
|
|
|
|
|
|
|
| from PT Avona Mina Lestari |
|
$ |
7,944 |
|
|
$ |
- |
|
|
$ |
7,944 |
|
|
$ |
- |
|
| from Hong Fa Shipping Limited |
|
|
2,784,181 |
|
|
|
22,312,040 |
|
|
|
5,840,078 |
|
|
|
38,551,680 |
|
| from Haifeng Dafu Enterprise Co., Ltd. |
|
|
5,653 |
|
|
|
- |
|
|
|
5,653 |
|
|
|
- |
|
| from Hai Yi Shipping Ltd. |
|
|
34,877 |
|
|
|
- |
|
|
|
34,877 |
|
|
|
- |
|
| from PT. Dwikarya Reksa Abadi |
|
|
8,907 |
|
|
|
- |
|
|
|
8,907 |
|
|
|
- |
|
| |
|
|
2,841,562 |
|
|
|
22,312,040 |
|
|
|
5,897,459 |
|
|
|
38,551,680 |
|
| Purchase of vessel maintenance service |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| from PT. Avona Mina Lestari |
|
|
- |
|
|
|
1,233,220 |
|
|
|
- |
|
|
|
2,320,509 |
|
| from PT. Dwikarya Reksa Abadi |
|
|
1,956,677 |
|
|
|
1,344,189 |
|
|
|
1,956,677 |
|
|
|
2,554,597 |
|
| |
|
|
1,956,677 |
|
|
|
2,577,409 |
|
|
|
1,956,677 |
|
|
|
4,875,106 |
|
| Purchase of transportation service |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| from Fuzhou Honglong Ocean Fishery Co., Ltd. |
|
|
12,089 |
|
|
|
5,145,545 |
|
|
|
180,609 |
|
|
|
6,035,237 |
|
| from Haifeng Dafu Enterprise Company Limited |
|
|
- |
|
|
|
153,889 |
|
|
|
- |
|
|
|
1,530,941 |
|
| from Hai Yi Shipping Limited |
|
|
297,518 |
|
|
|
180,476 |
|
|
|
297,518 |
|
|
|
770,699 |
|
| from Hong Fa Shipping Limited |
|
|
- |
|
|
|
520,218 |
|
|
|
- |
|
|
|
1,485,916 |
|
| |
|
|
309,607 |
|
|
|
6,000,128 |
|
|
|
478,127 |
|
|
|
9,822,793 |
|
| Purchase of Indonesia vessel agent service |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| from PT. Avona Mina Lestari (1) |
|
|
2,357 |
|
|
|
370,372 |
|
|
|
2,357 |
|
|
|
743,404 |
|
| from PT. Dwikarya Reksa Abadi (1) |
|
|
- |
|
|
|
325,927 |
|
|
|
- |
|
|
|
654,189 |
|
| |
|
$ |
2,357 |
|
|
$ |
696,299 |
|
|
$ |
2,357 |
|
|
$ |
1,397,593 |
|
|
| Ping Lin [Member] |
|
| Related Party Transaction [Line Items] |
|
| Schedule of future minimum rental payments required |
| Twelve-month Period Ending June 30: |
|
Amount |
|
| 2016 |
|
$ |
1,145 |
|
|
| Hai Yi Shipping Limited [Member] |
|
| Related Party Transaction [Line Items] |
|
| Schedule of future minimum rental payments required |
| Twelve-month Period Ending June 30: |
|
Amount |
|
| 2016 |
|
$ |
231,253 |
|
|