Quarterly report pursuant to sections 13 or 15(d)

TERM LOANS (Details 4)

v2.4.0.8
TERM LOANS (Details 4) (USD $)
6 Months Ended
Jun. 30, 2013
Debt Instrument Periodic Payment Principal Current Year $ 5,690,521
Debt Instrument Periodic Payment Principal Current Year One 11,381,040
Debt Instrument Periodic Payment Principal Current Year Two 6,505,198
Long-term loans - current portion 23,576,759
Minsheng Bank Of China, Fuzhou Branch Transaction One [Member]
 
Debt Instrument, Collateral Pingtan Fishing’s     and Hong     Long’s fishing     vessels and     guaranteed by     Xinrong Zhuo
Debt Instrument Term Description May 4, 2012     to March     16, 2015
Debt Instrument Periodic Payment Principal Current Year 3,006,159
Debt Instrument Periodic Payment Principal Current Year One 6,012,318
Debt Instrument Periodic Payment Principal Current Year Two 3,006,159
Long-term loans - current portion 12,024,636
Minsheng Bank Of China, Fuzhou Branch Transaction Two [Member]
 
Debt Instrument, Collateral Pingtan Fishing’s     and Hong     Long’s fishing     vessels and     guaranteed by     Xinrong Zhuo
Debt Instrument Term Description June 15, 2012     to March     16, 2015
Debt Instrument Periodic Payment Principal Current Year 733,210
Debt Instrument Periodic Payment Principal Current Year One 1,466,419
Debt Instrument Periodic Payment Principal Current Year Two 733,210
Long-term loans - current portion 2,932,839
Minsheng Bank Of China, Fuzhou Branch Transaction Three [Member]
 
Debt Instrument, Collateral Pingtan Fishing’s     and Hong     Long’s fishing     vessels and     guaranteed by     Xinrong Zhuo
Debt Instrument Term Description June 29, 2012     to March     16, 2015
Debt Instrument Periodic Payment Principal Current Year 1,136,475
Debt Instrument Periodic Payment Principal Current Year One 2,272,949
Debt Instrument Periodic Payment Principal Current Year Two 1,136,475
Long-term loans - current portion 4,545,899
Fujian Haixia Bank, Fuzhou Hualin Branch [Member]
 
Debt Instrument, Collateral Guaranteed by     Xinrong Zhuo
Debt Instrument Term Description April 25, 2012     to March     22, 2015
Debt Instrument Periodic Payment Principal Current Year 814,677
Debt Instrument Periodic Payment Principal Current Year One 1,629,354
Debt Instrument Periodic Payment Principal Current Year Two 1,629,354
Long-term loans - current portion $ 4,073,385