Subsequent Event |
3 Months Ended |
|---|---|
Mar. 31, 2016 | |
| Subsequent Events [Abstract] | |
| SUBSEQUENT EVENT |
NOTE 16 – SUBSEQUENT EVENT
On April 19, 2016, the Company signed a loan agreement with China Development Bank and borrowed $4.5 million from the bank. The loan is due on April 18, 2017 with variable annual interest rate based on six-month London Interbank Offered Rate (“LIBOR”) plus 230 basis points, secured by the Company’s restricted cash which is a deposit with the lender of RMB 6 million (approximately $0.9 million) and collateralized by a related party’s land use right. |
| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. No definition available.
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