Quarterly report pursuant to Section 13 or 15(d)

PREPAID EXPENSE (Tables)

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PREPAID EXPENSE (Tables)
9 Months Ended
Sep. 30, 2014
Prepaid Expenses [Abstract]  
Schedule of Prepaid Expenses and Deposits [Table Text Block]
At September 30, 2014 and December 31, 2013, prepaid expense consisted of the following:
 
 
 
September 30, 2014
 
December 31, 2013
 
 
 
 
 
(As Restated)
 
Prepayments on fuel, consumables and equipment
 
$
288,292
 
$
3,638,165
 
Prepaid fishing licenses
 
 
-
 
 
668,589
 
Other
 
 
-
 
 
2,820
 
 
 
$
288,292
 
$
4,309,574