|9 Months Ended|
Sep. 30, 2016
|Subsequent Events [Abstract]|
NOTE 16 – SUBSEQUENT EVENTS
On October 10, 2016, the Company signed a loan agreement with Fujian Haixia Bank and borrowed $1.08 million from the bank. The loan is due on October 9, 2017 with annual interest rate of 1.739%, collateralized by Pingtan Fishing’s 17 fishing vessels.
On October 20, 2016, the Company’s Board of Directors declared a cash dividend of $0.01 per share to the Company’s common stock shareholders of record on October 31, 2016.
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.