Quarterly report pursuant to sections 13 or 15(d)

ACCOUNTS PAYABLE - RELATED PARTIES

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ACCOUNTS PAYABLE - RELATED PARTIES
9 Months Ended
Sep. 30, 2013
Accounts Payable Related Parties [Abstract]  
Accounts Payable Related Parties Disclosure [Text Block]
11.
ACCOUNTS PAYABLE - RELATED PARTIES
 
Accounts payable to related parties as of September 30, 2013 and December 31, 2012 consisted of the following:
 
Merchant Supreme
 
 
 
September 30, 2013
 
December 31, 2012
 
 
 
(Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
PT. Avona Mina Lestari (see Note 15 (a))
 
$
61,419
 
$
5,589,681
 
Fujian Honglong Ocean Fishery Co., Ltd. (“Hong Long”) (see Note 15 (a))
 
 
101,884
 
 
175,951
 
 
 
$
163,303
 
$
5,765,632
 
 
Accounts payable to related parties are not collateralized, carry no interest, and do not have specific repayment terms.
 
Deposit on setting up joint venture was netted off with balances of accounts payable - related parties.