Quarterly report pursuant to Section 13 or 15(d)

Other Receivables

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Other Receivables
3 Months Ended
Mar. 31, 2017
Other Receivables [Abstract]  
OTHER RECEIVABLES

NOTE 5 – OTHER RECEIVABLES

 

At March 31, 2017 and December 31, 2016, other receivables consisted of the following:

 

    March 31, 2017     December 31, 2016  
Prepayments made for fish goods (1)   $ -     $ 29,848,189  
Interest receivable     1,973,973       1,819,258  
Security deposit     75,000       75,000  
Other     93,600       93,009  
    $ 2,142,573     $ 31,835,456  

 

(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. The Company received the refund in full in January and February 2017.