Quarterly report pursuant to sections 13 or 15(d)

NOTE PAYABLE (Tables)

v2.4.0.8
NOTE PAYABLE (Tables)
6 Months Ended
Jun. 30, 2013
Note Payable [Abstract]  
Schedule Of Notes Payable [Table Text Block]
Note payable as of June 30, 2013 and December 31, 2012 consisted of the following:
   
 
 
June 30, 2013
 
 
December 31, 2012
 
 
 
(Unaudited)
 
 
 
 
Promissory note:
 
 
 
 
 
 
 
 
Fuzhou Honglong Ocean Fishery Co., Ltd ("Hong Long")
 
$
155,166,195
 
 
$
-
 
 
 
 
 
 
 
 
 
 
Additional information:
 
 
 
 
 
 
 
 
Maximum balance outstanding during the period/year
 
$
155,166,195
 
 
$
-
 
Interest expense
 
$
-
 
 
$
-
 
Flat rate per annum
 
 
4.00
%
 
 
-