Quarterly report pursuant to Section 13 or 15(d)

Cover
- Document and Entity Information
Financial Statements
Notes to Financial Statements
Accounting Policies
- Summary of Significant Accounting Policies (Policies)
Notes Tables
Notes Details

Advances to Suppliers

Advances to Suppliers

9 Months Ended

Sep. 30, 2016

Advances to Suppliers [Abstract]

ADVANCES TO SUPPLIERS

NOTE 5 – ADVANCES TO SUPPLIERS

At September 30, 2016 and December 31, 2015, advances to suppliers consisted of the following:

	September 30, 2016		December 31, 2015
Prepayments made for fishing nets and spare parts	$	3,690,128	$	4,093,597
Prepayments made for fish goods (1)		31,045,805		31,900,549
	$	34,735,933	$	35,994,146

(1)

According to related signed agreement, the Company has the right to receive refund for these prepayments if the situation of demands and supplies changes.