Quarterly report pursuant to Section 13 or 15(d)

LOAN RECEIVABLES (Tables)

v3.7.0.1
LOAN RECEIVABLES (Tables)
6 Months Ended
Jun. 30, 2017
Loans Receivable [Member]  
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]
The following table sets forth a summary of the loan agreements in loan receivables balance:
 
 
 
 
 
 
 
Original
 
June 30,
 
December 31,
 
Annual
 
 
 
 
 
 
 
 
Amount
 
2017
 
2016
 
Interest
 
Repayment
Date
 
Borrower
 
Lender
 
(RMB)
 
(USD)
 
(USD)
 
Rate
 
Due Date
 
 
 
 
 
 
 
 
(Unaudited)
 
 
 
 
 
 
7/15/2016
 
Xiaohui Wang
 
Shanghai Takung
 
 
10,080,000
 
$
-
 
$
1,451,822
 
 
0
%
3/31/2017
8/24/2016
 
Xiaohui Wang
 
Shanghai Takung
 
 
13,350,000
 
$
-
 
$
1,922,800
 
 
0
%
3/31/2017
11/14/2016
 
Xiaohui Wang
 
Shanghai Takung
 
 
10,275,000
 
$
1,515,643
 
$
1,479,908
 
 
0
%
10/31/2017
12/9/2016
 
Xiaohui Wang
 
Tianjin Takung
 
 
10,550,000
 
$
1,556,208
 
$
1,519,516
 
 
0
%
11/30/2017
1/4/2017
 
Xiaohui Wang
 
Tianjin Takung
 
 
24,461,505
 
$
3,608,264
 
$
-
 
 
0
%
12/31/2017
 
 
 
 
 
 
 
Total
 
$
6,680,115
 
$
6,374,046