BIQI International Holding (BIQIF) 10-Q 12 May 14 2014 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2014	9-May-14
Document And Entity Information	'	'
Entity Registrant Name	'Tianli Agritech, Inc.	'
Entity Central Index Key	'0001486299	'
Document Type	'10-Q	'
Document Period End Date	31-Mar-14	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--12-31	'
Is Entity a Well-known Seasoned Issuer?	'No	'
Is Entity a Voluntary Filer?	'No	'
Is Entity's Reporting Status Current?	'Yes	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Common Stock, Shares Outstanding	'	19,564,000
Document Fiscal Period Focus	'Q1	'
Document Fiscal Year Focus	'2014	'

CONSOLIDATED_BALANCE_SHEETS_Un

CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Current Assets:	'	'
Cash and cash equivalents	$19,531,022	$10,087,694
Accounts receivable	181,849	256,607
Inventories	9,985,633	11,484,786
Advances to suppliers	2,129,898	1,612,492
Prepaid expenses	153,436	204,106
Other receivables, net	281,889	1,181,078
Total Current Assets	32,263,727	24,826,763
Long-term prepaid expenses	1,571,432	1,606,188
Plant and equipment, net	22,434,283	23,185,732
Construction in progress	50,471	50,897
Biological assets, net	2,851,542	3,276,840
Intangible assets, net	1,455,399	1,480,631
Total Assets	60,626,854	54,427,051
Current Liabilities:	'	'
Short-term loans	7,952,093	6,382,561
Accounts payable and accrued liabilities	7,497	48,896
Other payables	3,146,825	3,309,246
Due to related party	127,978	139,430
Total Liabilities	11,234,393	9,880,133
Stockholders' Equity:	'	'
Common stock ($0.001 par value, 50,000,000 shares authorized, 16,964,000 shares and 13,964,000 shares issued and outstanding on March 31, 2014 and December 31, 2013)	16,964	13,964
Additional paid in capital	23,291,398	18,094,200
Statutory surplus reserves	2,416,647	2,416,647
Retained earnings	19,966,549	19,538,507
Accumulated other comprehensive income	3,700,903	4,046,055
Stockholders' Equity - Tianli Agritech Inc., and Subsidiaries	49,392,461	44,109,373
Noncontrolling interest	0	437,545
Total Stockholders' Equity	49,392,461	44,546,918
Total Liabilities and Stockholders' Equity	$60,626,854	$54,427,051

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Stockholders' Equity:	'	'
Common stock, Par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares outstanding	16,964,000	13,964,000
Common stock, shares issued	16,964,000	13,964,000

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME(Unaudited) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Income Statement [Abstract]	'	'
Revenue	$9,716,629	$7,386,534
Cost of goods sold	8,254,511	6,581,233
Gross profit	1,462,118	805,301
General and administrative expenses	773,411	902,498
Selling expenses	282,767	36,042
Operating Expenses	1,056,178	938,540
Income (loss) from operations	405,940	-133,239
Other income (expense):	'	'
Interest expenses and bank charges	-89,676	-166,817
Subsidy income	0	95,589
Other income (expense)	-15,239	25,904
Total other income (expense)	-104,915	-45,324
Income (loss) before income taxes	301,025	-178,563
Income taxes	0	0
Net income (loss) from continuing operations	301,025	-178,563
Add:	'	'
Net (loss) attributable to the noncontrolling interests	-127,017	-68,495
Net income (loss) attributable to Tianli Agritech Inc. and Subsidiaries	428,042	-110,068
Earnings (loss) per share attributable to the stockholders of Tianli Agritech Inc. and Subsidiaries – Basic and Diluted	$0.03	($0.02)
Weighted average shares, basic and diluted	13,964,000	11,194,000
Comprehensive income:	'	'
Net income (loss) attributable to Tianli Agritech Inc. and Subsidiaries	428,042	-110,068
Unrealized foreign currency translation adjustment	-365,368	252,565
Comprehensive income	$62,674	$142,497

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES	'	'
Net income (loss)	$301,025	($178,563)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:	'	'
Depreciation and amortization	884,027	800,471
Amortization of prepaid rental expenses and long-term prepaid expenses	110,316	100,446
Provision for doubtful accounts	8,486	0
Loss from inventory LCM	86,917	0
Changes in operating assets and liabilities:	'	'
Accounts receivable	64,678	-28,681
Inventories	1,326,872	-317,839
Advances to suppliers	-534,902	79
Prepaid expenses	-39,488	0
Other receivables	896,107	7,003
Accounts payable and accrued liabilities	-41,301	-4,196
Other payables	-40,578	546,572
Net cash provided by operating activities	3,022,159	925,292
CASH FLOWS FROM INVESTING ACTIVITIES	'	'
Cash paid for purchase of noncontrolling interest	-1,090,114	0
Purchase of biological assets	0	-58,570
Purchase of plant and equipment	-3,467	-432,941
Net cash used in investing activities	-1,093,581	-491,511
CASH FLOWS FROM FINANCING ACTIVITIES	'	'
Due to related party	-10,990	0
Proceeds from capital contribution	6,000,000	0
Proceeds from short-term loans	1,635,163	0
Net cash provided by financing activities	7,624,173	0
EFFECT OF EXCHANGE RATE CHANGES ON CASH	-109,423	65,687
NET INCREASE IN CASH	9,443,328	499,468
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	10,087,694	7,477,205
CASH AND CASH EQUIVALENTS, END OF PERIOD	19,531,022	7,976,673
SUPPLEMENTAL DISCLOSURES:	'	'
Interest expense paid	146,661	173,021
Income tax paid	$0	$0

1_ORGANIZATION_AND_DESCRIPTION

1. ORGANIZATION AND DESCRIPTION OF BUSINESS	3 Months Ended
	Mar. 31, 2014
Notes to Financial Statements	'
Note 1. ORGANIZATION AND DESCRIPTION OF BUSINESS	'
	The consolidated financial statements include the financial statements of Tianli Agritech, Inc. (referred to herein as “Tianli”); its wholly-owned subsidiary, HC Shengyuan Limited, a Hong Kong limited liability company (“HCS”); HCS’s wholly-owned subsidiary, Wuhan Fengxing Agricultural Science and Technology Development Co., Ltd., a Chinese limited liability company and a wholly foreign owned entity (“WFOE”); WFOE’s variable interest entity, Wuhan Fengze Agricultural Science and Technology Development Co., Ltd., a Chinese limited liability company (“Fengze” or the “VIE”), where WFOE is deemed the primary beneficiary; and Fengze’s subsidiary, Hubei Tianzhili Breeder Hog Co., Ltd., a Chinese limited liability company (“Tianzhili”). All of Tianli’s operations are conducted by Fengze and Tianzhili whose results of operations are consolidated into those of Tianli. HCS and WFOE are sometimes referred to as the “subsidiaries”. Tianli, its consolidated subsidiaries and Fengze and Tianzhili are collectively referred to herein as the “Company”, “we” and “us”, unless specific reference is made to an entity.
	Tianli was incorporated in the British Virgin Islands on November 9, 2009 as a limited liability company. The Company is engaged in the business of breeding, raising, and selling hogs for use in China’s pork meat production and hog breeding by other hog producers. The Company also sold pork products through its retail operation operated until June 2012. The Company operates eleven production farms in areas around Wuhan City, within Hubei Province, People’s Republic of China (“PRC”). Its wholly owned subsidiary, HCS, was incorporated in Hong Kong on November 24, 2009 as a limited liability company. Other than its equity interest in HCS, Tianli does not own any assets or conduct any operations.
	WFOE was incorporated in Wuhan City on June 2, 2005. On November 26, 2009, HCS entered into a stock purchase agreement with WFOE where HCS would acquire a 100% equity interest of WFOE. On January 19, 2010, the Wuhan Municipal Commission of Commerce approved the ownership change. On January 27, 2010, the ownership change was declared effective by the Wuhan Administrator for Industry & Commerce. HCS acquired WFOE and became the holder of 100% of the equity interest of WFOE, and WFOE effectively became the wholly-owned subsidiary of the Company. Other than the equity interest in WFOE, HCS does not own any assets or conduct any operations.
	WFOE conducts its business through Fengze, which is consolidated as a variable interest entity, as discussed below.
	Chinese laws and regulations currently do not prohibit or restrict foreign ownership in hog breeding businesses. However, Chinese laws and regulations do prevent direct foreign investment in certain industries. On December 1, 2009, to protect the Company’s stockholders from possible future foreign ownership restrictions, Fengze and all of the stockholders of Fengze (“Principal Stockholders”) entered into an Entrusted Management Agreement (the “EMA”) with WFOE, which provides that WFOE will be fully and exclusively responsible for the management of Fengze. WFOE is also entitled to receive the residual return of Fengze. As a result of the agreement, WFOE will absorb 100% of the expected losses and gains of Fengze, which results in WFOE being the primary beneficiary of Fengze.
	WFOE also entered into a Pledge of Equity Agreement (the “PEA”) with the Principal Stockholders, who pledged all their equity interest in these entities to WFOE. The PEA, which was entered into by each Principal Shareholder, pledged each of the Principal Stockholders’ equity interest in WFOE as a guarantee for the entrustment payment under the EMA.
	In addition, WFOE entered into an Option Agreement (the “OA”) to acquire the Principal Stockholders’ equity interest in these entities if or when permitted by the PRC laws.
	Collectively, the EMA, PEA and OA are referred to as the Exclusive Agreements, based upon which the Company consolidates the variable interest entity, Fengze, as required by generally accepted accounting principles in the United States (“US GAAP”), because the Company is the primary beneficiary of the VIE. The profits and losses of Fengze are allocated to WFOE and thus to the Company based upon the EMA.
	The Company completed its Initial Public Offering (“IPO”) on July 19, 2010, whereby it issued 2,000,000 shares of its common stock at a price of $6.00 per share.
	On May 12, 2011, the Company acquired its eleventh farm from An Puluo Development Co. (“An Puluo”), which is located in Enshi Tujia and Miao Autonomous Prefecture of Hubei Province, for a purchase price of $2.2 million.
	On June 22, 2011, Fengze established Hubei Tianzhili Breeder Hog Co., Ltd., a wholly owned subsidiary (“Tianzhili”), in Enshi City, Hubei Province as a limited liability company. Tianzhili engaged in the business of raising and selling black hogs through several major Chinese retail channels in cooperation with An Puluo. This collaborative agreement commenced in the third quarter of 2011 and was terminated as of June 15, 2012.
	On November 5, 2012, XMRJ LLP (“XMRJ”), a limited partner enterprise formed under Chinese law that engages in equity investments in China, agreed to invest RMB 10,000,000, or approximately $1,600,000, in Tianzhili. Until such investment, Tianzhili was a wholly-owned subsidiary of Fengze. Tianzhili conducts our black hog breeding operations. In consideration for its commitment to make the investment and an interest free loan, XMRJ received a 40% equity interest in Tianzhili. As of December 31, 2012, Tianzhili received $1,057,636 or RMB 6,666,670 from XMRJ. On March 22nd, 2014, Fengze entered into an equity purchase agreement with XMRJ to purchase the 40% minority equity interest in Tianzhili for RMB 6,666,700 or $1,090,114. As a result of this purchase, Tianzhili became the wholly owned subsidiary of the Company.
	On January 16, 2013, Tianzhili established Hubei Tianzhili (Hefeng) Breeder Hog Co., Ltd (“Hefeng”), a wholly owned subsidiary of Tianzhili, in Enshi Tujia and Miao Autonomous Prefecture of Hubei Province, as a limited liability company. Hefeng will be engaged in managing black hog farming and operations in Hefeng county of Enshi Tujia and Miao Autonomous Prefecture.

2_BASIS_OF_PRESENTATION_AND_SU

2. BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2014
Notes to Financial Statements	'
Note 2. BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'
	Basis of Presentation
	The accompanying consolidated financial statements have been prepared in conformity with US GAAP. The basis of accounting differs from that used in the statutory accounts of the Company, which are prepared in accordance with the accounting principles of the PRC (“PRC GAAP”). The Company’s functional currency is the Chinese Renminbi (“RMB”); however the accompanying consolidated financial statements have been translated and presented in United States Dollars (“USD”). All significant intercompany transactions and balances have been eliminated.
	Use of Estimates
	The preparation of these financial statements in conformity with generally accepted accounting principles requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and the related disclosure of contingent assets and liabilities at the date of these financial statements and the reported amounts of revenues and expenses during the reporting period. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Accordingly, actual results may differ from these estimates. Significant estimates include the useful lives of property and equipment, land use rights and biological assets, and assumptions used in assessing impairment for long-term assets.
	Principles of Consolidation
	Pursuant to US GAAP, Fengze is the VIE of the Company and the Company is the primary beneficiary of the VIE. Accordingly, the VIE has been consolidated in the Company’s financial statements.
	Based on various VIE agreements, the Company is able to exercise control over the VIE, and obtain the financial interests such as the periodic income of the VIE through the EMA, PEA, and OA and to acquire the net assets of VIE through purchase of their equities at essentially no cost. The Company therefore concluded that its interest in the VIE is not a non-controlling interest and therefore is not classified as such. Based on the Exclusive Agreements the amount of controlling interest of the Fengze shareholders, who are holding shares of the VIE for the Company, is zero. They exercise no controls over the VIE and no financial interests of ownership are due to them either for periodic income or the net assets.
	Cash and Cash Equivalents
	Cash and cash equivalents consist of all cash balances and highly liquid investments with an original maturity of three months or less. Because of the short maturity of these investments, the carrying amounts approximate their fair value.  Restricted cash is excluded from cash and cash equivalents.
	Accounts Receivable
	Accounts receivable is stated at cost, net of an allowance for doubtful accounts. The Company maintains allowances for doubtful accounts for estimated losses resulting from the failure of customers to make required payments. The Company reviews the accounts receivable on a periodic basis and makes allowances where there is doubt as to the collectability of individual balances. In evaluating the collectability of individual receivable balances, the Company considers many factors, including the age of the balance, the customer’s payment history, its current credit-worthiness and current economic trends.
	The Company accrued allowance for doubtful accounts of $18,514 and $10,178 at March 31, 2014 and December 31, 2013.
	Inventories
	Inventories are stated at the lower of cost, as determined by the weighted-average method, or market. Management compares the cost of inventories with the market value, and allowance is made for writing down the inventories to their market value if that is lower. Costs of raised animals include proportionate costs of breeding, including amortization of the breeding herd or biological assets, plus the costs of feed and other maintenance costs through the balance sheet date. Management inspects and monitors inventory on a continual basis.
	Advances to Suppliers
	Advances to suppliers at March 31, 2014 and December 31, 2013 totaled $2,129,898 and $1,612,492, respectively, and includes prepayments to suppliers for merchandise and raw materials that had not yet been shipped to us. We recognize prepayments as inventory or expense as suppliers make delivery of goods in compliance with our accounting policy. Included in advances to suppliers as of March 31, 2014 and December 31, 2013, the Company had prepayments of $1,992,258 and $1,440,167, respectively, to its premix feed supplier.
	Plant and Equipment
	The Company states plant and equipment at cost less accumulated depreciation. Expenditures for maintenance and repairs are charged to operations as incurred; additions, renewals and betterments are capitalized. When plant and equipment assets are retired or otherwise disposed of, the related cost and accumulated depreciation are removed from the respective accounts, and any resulting gain or loss is recorded as an operating expense. In accordance with US GAAP, the Company examines the possibility of decreases in the value of plant and equipment when events or changes in circumstances reflect the fact that their recorded value may not be recoverable. The Company computes depreciation using the straight-line method over the estimated useful lives of the assets with a residual value of 5% of plant and equipment.
	Estimated useful lives of the Company’s assets are as follows:
	Construction in Progress
	Construction in progress consists of amounts expended for building construction of new breeding and animal rearing facilities. Once the building construction is completed and the facilities are approved for adequate breeding and animal rearing activity, the construction in progress assets are categorized as buildings and production equipment and are then accounted for in plant and equipment. Assets accounted for as plant and equipment are used in the Company’s production process, whereupon they are depreciated over their estimated useful lives.
	Biological Assets
	Biological assets consist primarily of hogs purchased or selected from the Company’s own production for breeding and farrowing, which management believes will produce piglets that grow faster and have better quality breeding capabilities and carcasses with a high percentage of meat and a small quantity of fat. The costs to purchase and cultivate these breeding hogs and the expenditures related to labor and materials to feed the breeding hogs until they become commercially productive and breedable are capitalized. When these breeding hogs are entered into breeding and farrowing production, amortization of the costs of these breeding hogs commences. The estimated production life for breeding hogs is three years, and the costs are amortized to a residual value of $76 (RMB 500). After the breeding hogs have completed their production life of breeding, these breeding hogs are then transferred into inventory as the vast majority of these breeding hogs will then be sold for meat processing. Expenses incurred maintaining breeding hogs during gestation until piglets are weaned are capitalized into inventory and included in Work in process—biological assets, a component of inventories. If these breeding hogs produce piglets which are deemed appropriate for internal breeding purposes, the gestation and raising costs until weaned for these piglets are then allocated into biological assets.
	Amortized expenses pertaining to biological assets are included in inventory costs for those piglets to be sold and ultimately become a component of cost of goods sold.
	Intangible Assets
	Included in the intangible assets are land use rights. According to the laws of the PRC, the government owns all the land in the PRC. Companies or individuals are authorized to possess and use the land only through land use rights granted by the Chinese government. Land use rights are being amortized using the straight-line method over their lease terms.
	The Company carries land use rights at cost less accumulated amortization. In accordance with US GAAP, the Company examines the possibility of decreases in the value of land use rights when events or changes in circumstances reflect the fact that their recorded value may not be recoverable. The Company computes amortization using the straight-line method over the 50 year life of the land use rights.
	Impairment of Long-lived Assets
	In accordance with US GAAP, the Company periodically reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable. The Company recognizes an impairment loss when the sum of expected undiscounted future cash flows is less than the carrying amount of the asset. The amount of impairment is measured as the difference between the asset’s estimated fair value and its book value. For the three months ended March 31, 2014 and 2013, the Company had recorded no impairment charges at its long-lived assets.
	Fair Value of Financial Instruments
	Effective January 1, 2008, the Company adopted ASC 820, Fair Value Measurements and Disclosure (“ASC 820”) for assets and liabilities measured at fair value on a recurring basis. ASC 820 establishes a common definition for fair value to be applied to existing generally accepted accounting principles that require the use of fair value measurements, establishes a framework for measuring fair value and expands disclosure about such fair value measurements. The adoption of ASC 820 did not have an impact on the Company’s financial position or operating results, but did expand certain disclosures.
	ASC 820 defines fair value as the price that would be received upon sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Additionally, ASC 820 requires the use of valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. These inputs are prioritized below:
	Level 1: Observable inputs such as quoted market prices in active markets for identical assets or liabilities
	Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data
	Level 3: Unobservable inputs for which there is little or no market data, which require the use of the reporting entity’s own assumptions.
	The Company did not identify any assets and liabilities that are required to be presented on the consolidated balance sheets at fair value in accordance with the relevant accounting standards.
	The carrying values of cash and cash equivalents, trade receivables and payables, and short-term bank loans and debts approximate their fair values due to the short maturities of these instruments.
	Non-controlling Interest
	Non-controlling interests in the Company’s subsidiaries are recorded in accordance with the provisions of ASC 810 and are reported as a component of equity, separate from the parent’s equity. Purchase or sale of equity interests that do not result in a change of control are accounted for as equity transactions. Results of operations attributable to the non-controlling interest are included in our consolidated results of operations and, upon loss of control, the interest sold, as well as interest retained, if any, will be reported at fair value with any gain or loss recognized in earnings.
	Revenue Recognition
	The Company generates revenues from the business of breeding, raising, and selling hogs for use in Chinese pork meat production and the sale of hogs for breeding by other hog producers. From September 30, 2011 until June 15, 2012, the Company also generated revenue from selling specialty pork products to retailers. In the second quarter of 2013, the Company resumed selling specialty pork products to retailers.
	Revenues generated from the sales of breeding and meat hogs and specialty pork are recognized when these products are delivered to customers in accordance with previously agreed upon pricing and delivery arrangements, and the collectability of these sales is reasonably assured. Cash payment, which sometimes is in the form of wired cash transfers to the Company’s bank account, is usually received by the Company at the time the hogs are sold. Sold hogs and specialty pork are not returnable and accordingly, no provision has been made for returnable goods. The customers are responsible for the shipping of the
	Segment Information
	The Company follows FASB ASC 280-Segment Reporting, which requires that companies disclose segment data based on how management makes decision about allocating resources to segments and evaluating their performance.
	Starting from the second quarters of 2013, the Company entered into distribution agreements with supermarkets whereby the Company is permitted to sell specialty pork products in the supermarkets’ retail facilities. Consequently, management has determined that the Company is operating in two segments, hog farming and retail.
	Income Taxes
	The Company accounts for income taxes under the provisions of Section 740-10-30 of the FASB Accounting Standards Codification, which is an asset and liability approach that requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in its financial statements or tax returns. The Company did not have any deferred tax assets or liabilities as of March 31, 2014 and December 31, 2013.
	The Company is subject to the Enterprise Income Tax law (“EIT”) of the People’s Republic of China. However, according to the EIT, companies that are engaged in the agricultural business and primary processing of agricultural products are exempt from the 25% enterprise income tax. The Company is engaged in breeding, raising, and selling hogs for use in Chinese pork meat production and hog breeding, which is exempt from the Chinese income tax. Tianli is incorporated in the British Virgin Islands.  Under the current tax laws of the British Virgin Islands, the Company is not subject to income taxes.
	In addition, the Company is not subject to the PRC’s 17% VAT tax for hog sales or the 5% business tax levied on incomes from services rendered. According to the PRC tax regulations, companies engaging in the agricultural business are exempt from these taxes. With respect to the Company’s retail operations, the Company is engaged in breeding, processing, and distributing black hogs and black hog meats which are exempt from VAT taxes and corporate income tax as well.
	Basic and Diluted Earnings per Share
	The Company reports earnings per share in accordance with FASB ASC 260 “Earnings per share”. The Company’s basic earnings per share are computed using the weighted average number of shares outstanding for the periods presented. Diluted earnings per share are computed based on the assumption that any dilutive options or warrants were converted or exercised. Dilution is computed by applying the treasury stock method.  Under this method, the Company’s outstanding stock warrants are assumed to be exercised, and funds thus obtained were assumed to be used to purchase common stock at the average market price during the period.  There were no dilutive instruments outstanding during the three month periods ended March 31, 2014 and 2013.
	Foreign Currency Translation
	As of March 31, 2014 and December 31, 2013, the accounts of Tianli were maintained and its financial statements were expressed in Chinese Renminbi (RMB). Such financial statements were translated into United States Dollars (USD) in accordance with US GAAP, with the RMB as the functional currency. All assets and liabilities are translated at the current exchange rates as of the balance sheet dates. These rates were RMB 6.16 per US dollar and RMB 6.11 per US dollar as of March 31, 2014 and December 31, 2013, respectively. Stockholders’ equity is translated at the historical rates and items in the statements of operations and cash flows are translated at the average exchange rate for the period. The resulting translation adjustments are reported under other comprehensive income in accordance with US GAAP as a component of stockholders’ equity.
	During the three months ended March 31, 2014 and 2013, the transactions of Tianli were denominated and recorded in RMB and are translated at the average rates of exchange for the period. There rates were RMB 6.12 and RMB 6.28 per US dollar for the three months ended March 31, 2014 and 2013, respectively. Exchange gains and losses are recognized for the different foreign exchange rates applied when the foreign currency assets and liabilities are settled. Transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency are included in the results of operations as incurred.
	Stock Based Compensation
	In December 2004, the Financial Accounting Standards Board, or FASB, issued FASB ASC 718-10-55 - Compensation-Stock Compensation, or ASC 718-10-55. Under ASC 718-10-55, companies are required to measure the compensation costs of share-based compensation arrangements based on the grant-date fair value and recognize the costs in the financial statements over the period during which employees are required to provide services. Share-based compensation arrangements include stock options, restricted share plans, performance-based awards, share appreciation rights and employee share purchase plans. In addition, FASB ASC 825-10-50-10 – Financial Instruments – Overall – Disclosures, or ASC 825-10-50-10, expresses views of the Securities and Exchange Commission, or the SEC, staff regarding the interaction between ASC 718-10-55 and certain SEC rules and regulations and provides the staff's views regarding the valuation of share-based payment arrangements for public companies. The Company’s compensation cost is measured on the date of grant at its fair value. Such compensation amounts, if any, are amortized over the respective vesting periods or period of service of the option grant.
	Contingencies
	Certain conditions may exist as of the date the financial statements are issued, which may result in a loss to the Company but which will only be resolved when one or more future events occur or fail to occur. The Company’s management and legal counsel assess such contingent liabilities, and such assessments inherently involve an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against the Company or unasserted claims that may result in such proceedings, the Company’s legal counsel evaluates the perceived merits of any legal proceedings or unasserted claims as well as the perceived merits of the amount of relief sought or expected to be sought.
	If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s financial statements. If the assessment indicates that a potential material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, together with an estimate of the range of possible loss if determinable and material would be disclosed.
	Loss contingencies considered to be remote by management are generally not disclosed unless they involve guarantees, in which case the guarantee would be disclosed.
	Accrual of Environmental Obligations
	ASC Section 410-30-25 “Recognition” of environmental obligations requires the accrual of a liability if both of the following conditions are met:
	a)  Information available before the financial statements are issued or are available to be issued indicates that it is probable that an asset has been impaired or a liability has been incurred at the date of the financial statements.
b)  The amount of the loss can be reasonably estimated.
As of March 31, 2014 and December 31, 2013, the Company did not have any environmental remediation obligations, nor did it have any asset retirement obligations under ASC 410. Furthermore, the Company did not have any environmental remediation loss contingencies requiring recognition or disclosure in its financial statements.
Recently Issued Accounting Pronouncements
In April 2014, the Financial Accounting Standards Board (the “FASB”) issued an accounting standard that raises the threshold for disposals to qualify as discontinued operations and requires new disclosures of both discontinued operations and certain other disposals that do not meet the definition of a discontinued operation. The standard revised the definition of a discontinued operation to cover only asset disposals that are considered to be a strategic shift with a major impact on an entity's operations and finances, such as the disposal of a major geographic area or a significant line of business. Application of the standard, which is to be applied prospectively, is required for fiscal years beginning on or after December 15, 2014, and for interim periods within that year. The Company currently plans to adopt the standard in January 2015.
Based on the Company’s initial assessment of the standard, the Company expects that any potential future disposals of its hog farms will not be reported as discontinued operations and that the results of operations of any such disposed hog farms, including revenues, costs and any gains or losses on disposal, will be classified as continuing operations within the Consolidated Statements of Operations and Comprehensive Income for all periods presented through the date of disposition.

3_ACCOUNTS_RECEIVABLE

3. ACCOUNTS RECEIVABLE	3 Months Ended
	Mar. 31, 2014
Notes to Financial Statements	'
ACCOUNTS RECEIVABLE	'
	Accounts receivable consisted of the following:
		March 31,			December 31,
		2014			2013
	Accounts receivable	$	200,363		$	266,785
	Less: Allowance for doubtful accounts		(18,514	)		(10,178	)
		$	181,849		$	256,607
	The Company reviews the accounts receivable on a periodic basis and makes general and specific allowances when there is doubt as to the collectability of individual balances. After evaluating the collectability of individual receivable balances, the Company increased the allowance for doubtful accounts in the amount of $8,336 and $10,178 for the three months ended March 31, 2014 and the year ended December 31, 2013, respectively.

4_INVENTORIES

4. INVENTORIES	3 Months Ended
	Mar. 31, 2014
Notes to Financial Statements	'
INVENTORIES	'
	Inventories consisted of the following:
		March 31,			December 31,
		2014			2013
	Raw materials	$	1,295,898		$	1,750,125
	Work in process—biological assets		3,928,751			4,643,256
	Infant hogs		4,738,544			4,968,112
	Finished goods—specialty pork products		193,898			209,205
	Less: inventory reserve		(171,458	)		(85,912	)
		$	9,985,633		$	11.484,786
	Management compares the cost of inventories with the market value, and allowance is made for writing down the inventories to their market value, if lower. As of March 31, 2014 and December 31, 2013, the Company determined that there were write downs of $171,458 and $85,912, respectively. The term “Work in process—biological assets” has the meaning set forth above in Note 2—Biological Assets.

5_ADVANCES_TO_SUPPLIERS

5. ADVANCES TO SUPPLIERS	3 Months Ended
	Mar. 31, 2014
Notes to Financial Statements	'
ADVANCES TO SUPPLIERS	'
	The Company makes advances for materials or services the Company uses in its operations. As of March 31, 2014 and December 31, 2013, advances to suppliers amounted to $2,129,898 and $1,612,492, respectively.
	Included in advances to suppliers as of March 31, 2014 and December 31, 2013, the Company had prepaid $1,992,258 and $1,440,167 to the Company’s premix feed supplier.

6_OTHER_RECEIVABLES

6. OTHER RECEIVABLES	3 Months Ended
	Mar. 31, 2014
Notes to Financial Statements	'
OTHER RECEIVABLES	'
	At March 31, 2014 and December 31, 2013, the Company reported other receivables of $281,889 and $1,181,078, respectively, including an allowance for doubtful receivables of $60,971 and $61,485.
	The balances as of March 31, 2014 and December 31, 2013 included a deposit of $240,186 and $163,655 to a professional loan guarantee service company for short-term loans from Shanghai Pudong Development Bank.
	In August 2013, the Company entered into a promotional agreement with a marketing company to prepare a series of nationwide promotional activities to promote “Tianli-Xiduhei” black hogs for the 2014 Chinese New Year holiday. According to the agreement, the Company provided a security deposit of $981,932 to the marketing company as of December 31, 2013. The deposit had been returned at March 7, 2014 after the end of the promotional activities.

7_PLANT_AND_EQUIPMENT

7. PLANT AND EQUIPMENT	3 Months Ended
	Mar. 31, 2014
Notes to Financial Statements	'
PLANT AND EQUIPMENT	'
	Plant and equipment consist of the following:
		March 31,			December 31,
		2014			2013
	Buildings	$	26,083,314		$	26,254,084
	Vehicles		732,266			738,438
	Office equipment		486,912			535,206
	Production equipment		2,596,286			2,618,167
			29,898,778			30,145,895
	Less: Accumulated depreciation		(7,464,495	)		(6,960,163	)
		$	22,434,283		$	23,185,732
	Depreciation expense was $565,355 and $449,022 for the three months ended March 31, 2014 and 2013, respectively.

8_CONSTRUCTION_IN_PROGRESS

8. CONSTRUCTION IN PROGRESS	3 Months Ended
	Mar. 31, 2014
Notes to Financial Statements	'
CONSTRUCTION IN PROGRESS	'
	Construction in progress consists of amounts expended for the construction of new breeding and animal rearing facilities. Once construction is completed and the facilities are approved to be used for breeding and animal rearing activity, the construction in progress assets are placed into production and transferred into plant and equipment, whereupon they are depreciated over their estimated useful lives. As of March 31, 2014 and December 31, 2013, the construction in progress was $50,471 and $50,897, respectively, for upgrading the feed processing facility and improvements of several of the Company’s hog farms.

9_BIOLOGICAL_ASSETS

9. BIOLOGICAL ASSETS	3 Months Ended
	Mar. 31, 2014
Notes to Financial Statements	'
BIOLOGICAL ASSETS	'
	Biological assets consist of the following:
		March 31,			December 31,
		2014			2013
	Breeding hogs	$	7,042,711		$	7,120,342
	Less: Accumulated amortization		(4,191,169	)		(3,843,502	)
		$	2,851,542		$	3,276,840
	Amortization of the biological assets, included as a component of inventory, for the three month periods ended March 31, 2014 and 2013 was $400,923 and $350,405, respectively.

10_LONGTERM_PREPAID_EXPENSES

10. LONG-TERM PREPAID EXPENSES	3 Months Ended
	Mar. 31, 2014
Notes to Financial Statements	'
LONG-TERM PREPAID EXPENSES	'
	Long-term prepaid expenses primarily consist of prepaid rental expenses for three parcels of land comprising the Company’s eleventh farm. The prepaid rental expenses are being amortized using the straight-line method over the lease term of 21.33 years.
	Long-term prepaid expenses at March 31, 2014 and December 31, 2013 are as follows:
		March 31,			December 31,
		2014			2013
	Long-term prepaid rental expenses	$	1,820,302		$	1,835,644
	Less: Accumulated amortization		(248,870	)		(229,456	)
		$	1,571,432		$	1,606,188
	Amortization expense for the three months ended March 31, 2014 and 2013 was $21,493 and $28,110, respectively.
	The estimated amortization expense of long-term prepaid expenses over each of the next five years and thereafter will be $85,972 per annum.

11_INTANGIBLE_ASSETS

11. INTANGIBLE ASSETS	3 Months Ended
	Mar. 31, 2014
Notes to Financial Statements	'
INTANGIBLE ASSETS	'
	According to the laws of PRC, the government owns all the land in PRC. Companies or individuals are authorized to possess and use land only through land use rights granted by the Chinese government. Land use rights are being amortized using the straight-line method over the lease terms.
	Land use rights at March 31, 2014 and December 31, 2013 are as follows:
		March 31,			December 31,
		2014			2013
	Land use rights	$	1,720,541		$	1,735,042
	Less: Accumulated amortization		(265,142	)		(254,411	)
		$	1,455,399		$	1,480,631
	Amortization expense for the three month periods ended March 31, 2014 and 2013 was $12,954 and $12,508, respectively.
	The estimated amortization expense of land use rights over each of the next five years and thereafter will be $51,816 per annum.

12_SHORTTERM_LOANS

12. SHORT-TERM LOANS	3 Months Ended
	Mar. 31, 2014
Notes to Financial Statements	'
SHORT-TERM LOANS	'
	As of March 31, 2014 and December 31, 2013, the short-term loans are as follows:
		31-Mar-14		31-Dec-13
	Loan payable to Wuhan Rural Commercial Bank, annual interest rate of 8.4%, due by June 19, 2014, guaranteed by Wuhan Science and Technology Guarantee Co., Ltd.	$	778,981	$	785,546
	Loan payable to Shanghai Pudong Development Bank, annual interest rate of 7.2%, due by December 4,  2014, guaranteed by Wuhan Agriculture Guarantee Co., Ltd. and Tianzhili,, secured by certain assets of the Company.		1,622,876		1,636,554
	Loan payable to Communication Bank of China, annual interest rate of 7.28%, due by December 16, 2014, guaranteed by Wuhan Science and Technology Guarantee Co., Ltd.		1,622,876		1,636,554
	Loan payable to Wuhan Rural Commercial Bank, annual interest rate of 8.4%, due by November 6, 2014 with collateral provided by Mr. Xin Zhang.		843,896		851,008
	Loan payable to Industrial and Commercial Bank of China, annual interest rate of 7.8%, due by December 3, 2014, with collateral provided by Wuhan East Lake Hi-Tech Innovation Center		1,460,588		1,472,899
	Loan payable to Shanghai Pudong Development Bank, annual interest rate of 8.4%, due by February 6, 2015, guaranteed by Wuhan Agriculture Guarantee Co., Ltd. and Tianzhili and secured by certain assets of the Company.		1,136,013		-
	Loan payable to Shanghai Pudong Development Bank, annual interest rate of 8.4%, due by January 21, 2015, guaranteed by Wuhan Agriculture Guarantee Co., Ltd. and Tianzhili and secured by certain assets of the Company.		486,863		-
		$	7,952,093	$	6,382,561
	In the first quarter of 2014, the Company paid $40,572 to a guarantee service provider for providing the guarantee of the loans from Shanghai Pudong Development Bank. No such payment was made during the three months ended March 31, 2013. Amount of $146,661 and $173,021 was recorded as interest expense for the three months ended March 31, 2014 and 2013, respectively.

13_ACCOUNTS_PAYABLE_AND_ACCRUE

13. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	3 Months Ended
	Mar. 31, 2014
Notes to Financial Statements	'
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	'
	As of March 31, 2014 and December 31, 2013, accounts payable and accrued liabilities are as follows:
		March 31,		December 31,
		2014		2013
	Accounts payable	$	7,078	$	157
	Other taxes payable		419		542
	Others		-		48,197
		$	7,497	$	48,896

14_OTHER_PAYABLES

14. OTHER PAYABLES	3 Months Ended
	Mar. 31, 2014
Notes to Financial Statements	'
OTHER PAYABLES	'
	Other payables at March 31, 2014 and December 31, 2013 were $3,146,825 and $3,309,246, respectively. Included in other payables as of March 31, 2014 and December 31, 2013 were mainly deposit payables of $3,133,807 and $3,255,504.
	Since the year ended December 31, 2011, the Company signed 8 joint development agreements with 8 local cooperatives in the Enshi Autonomous Prefecture in Hubei Province. Under these agreements, the Company provides funding to local independent farmers to construct small-scale hog farms in which the farmers will grow black hogs for sale to the Company.
	According to the joint development agreements, each participating farmer paid a deposit of approximately one-third of the construction cost of the hog farm to the Company upon completion of the respective hog farm. The deposit is amortized against the depreciation expense over a period of 10 years. Should the farmer withdraw from the program within this period, the deposit will be refunded proportionately. As of March 31, 2014 and December 31, 2013, deposits from farmers were $3,133,807 and $3,255,504, respectively.
	The amortization of deposit payables for the three months ended March 31, 2014 and 2013 was $95,205 and $39,573, respectively. The following table sets forth the aggregate future amortization expected for the next five years:
		Amortization
	2014	$	380,820
	2015	$	380,820
	2016	$	380,820
	2017	$	380,820
	2018	$	380,820
	Thereafter	$	1,229,707

15_RELATED_PARTY_TRANSACTIONS

15. RELATED PARTY TRANSACTIONS	3 Months Ended
	Mar. 31, 2014
Notes to Financial Statements	'
RELATED PARTY TRANSACTIONS	'
	Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operational decisions. Parties are also considered to be related if they are subject to common control or common significant influence. The amount due to related party was $127,978 and $139,430 as of March 31, 2014 and December 31, 2013, respectively. The amount represented the advances from the Company’s shareholder and former chief executive officer, Hanying Li, for operating purposes. Such advances are non-interest bearing and due upon demand.

16_CAPITAL_STOCK

16. CAPITAL STOCK	3 Months Ended
	Mar. 31, 2014
Notes to Financial Statements	'
CAPITAL STOCK	'
	The Company is authorized to issue 50,000,000 shares of common stock, $0.001 par value, and as of March 31, 2014 and December 31, 2013, it had 16,964,000 shares and 13,964,000 shares issued and outstanding, respectively.
	The Company granted to its investor relation firm 44,000 shares of the Company’s common stock for services to be rendered up through October 2011 pursuant to an agreement made in October 2010. The shares were valued at $234,080 and amortized over the service term. The amortization of this grant was $234,080 for the year ended December 31, 2011. In July 2011, the Company issued 10,000 shares of the 44,000 shares to the investor relationship consulting firm. The remaining 34,000 shares were issued on October 11, 2012.
	On December 6, 2010 the Company granted 26,000 options with exercise price of $6.00 to a director with vesting of one-third as of the date of grant, one-third vesting in December 2011, and the final one-third vesting in December 2012, contingent on the director continuing to serve as a board member. The option can be exercised through January, 2017. The Company recognizes the compensation cost over the award’s service period based on a Black Scholes valuation of the options as of the date of the grant.
	On July 12, 2012, the Company issued 1,000,000 shares of common stock as compensation to its consultants and employees, comprised of 960,000 shares to marketing consultants for black hog sales and 40,000 shares to its employees. The Company recognizes the compensation cost of $1,130,000 as part of its selling expense.
	On October 11, 2012, the Company issued 25,000 shares of the Company’s common stock to the investor relationship consulting firm for its 2012 consulting services. The shares were valued at $37,000 and recognized as compensation cost as part of the Company’s general and administrative expenses.
	On August 15, 2013, the Company issued 10,000 shares of the Company’s common stock to the investor relationship consulting firm for its 2013 consulting services. The shares were valued at $6,900 and recognized as compensation cost as part of the Company’s general and administrative expenses.
	On October 28, 2013, the Company sold and issued 2,760,000 shares of the Company’s common stock to Mr. Wei Gong at $1.16 per share. The shares were valued at $3,201,600.
	On March 24, 2014, the Company sold and issued 3,000,000 shares of the Company’s common stock to Mr. Ping Wang, who had been appointed as Chairman of the board of directors and Chief Executive Officer of the Company on March 28, 2014, at $2 per share. The shares were valued at $6,000,000.
	The fair value of the director options and the placement agent warrants were estimated as of the grant date using the Black Scholes options pricing model. The determination of the fair value is affected by the price of the Company’s common stock at the date of the grant as well as assumptions made regarding the expected price volatility of the common stock over the terms of the grant, the risk-free interest rate and any expected dividends.
	The table below provides the estimated fair value of the director options, and the significant assumptions used to determine their values.
		Director Options		Placement Agent
				\Warrants
	Estimated Fair Value Per Option or Warrant	$	2.47	$	0.56
	Stock Price at Date of Grant	$	5.66	$	4.36
	Assumptions:
	Dividend Yield		0%		0%
	Stock Price Volatility		50.80%		31.30%
	Risk-Free Interest Rate		1.60%		1.40%
	The following table summarizes the stock options and warrants outstanding as of March 31, 2014 and December 31, 2013 and the activity during the three months ended March 31, 2014.
		Options			Weighted Average Exercise Price		Warrants		Weighted Average Exercise Price
	Outstanding as of December 31, 2013		26,000		$	6		210,000	$	7.21
	Granted		-			-		-		-
	Exercised		-			-		-		-
	Forfeited		-			-		-		-
	Outstanding at March 31, 2014		26,000		$	6		210,000	$	7.21
	Exercisable at March 31, 2014		26,000		$	6		210,000	$	7.21
	The weighted average remaining contractual life for the options and the warrants is 2.75 years and 1.25 years, respectively. The market value of the Company’s common stock was $1.86 and $2.18 as of March 31, 2014 and December 31, 2013, respectively. The intrinsic value of the outstanding options and the warrants as of March 31, 2014 and December 31, 2013 was $0.

17_STATUTORY_RESERVES

17. STATUTORY RESERVES	3 Months Ended
	Mar. 31, 2014
Notes to Financial Statements	'
STATUTORY RESERVES	'
	As stipulated by the Company Law of the PRC, net income after taxation can only be distributed as dividends after appropriation has been made for the following:
		•	Making up cumulative prior years’ losses, if any;
		•	Allocations to the “Statutory surplus reserve” of at least 10% of income after tax, as determined under PRC accounting rules and regulations, until the fund amounts to 50% of the Company’s registered capital;
		•	Allocations to the discretionary surplus reserve, if approved by the stockholders;
		•	The transfer to this reserve must be made before distribution of any dividend to shareholders. The surplus reserve fund is non-distributable other than during liquidation and can be used to fund previous years’ losses, if any, and may be utilized for business expansion or converted into share capital by issuing new shares to existing shareholders in proportion to their shareholdings or by increasing the par value of the shares currently held by them, provided that the remaining reserve balance after such issue is not less than 25% of the registered capital.
	In accordance with the Chinese Company Law, the Company has allocated 10% of its net income as the statutory reserve contributions. The reserves amounted to $2,416,647 as of March 31, 2014 and December 31, 2013.

18_CERTAIN_RISKS_AND_CONCENTRA

18. CERTAIN RISKS AND CONCENTRATION	3 Months Ended
	Mar. 31, 2014
Notes to Financial Statements	'
CERTAIN RISKS AND CONCENTRATION	'
	Credit risk and major customers
	As of March 31, 2014 and December 31, 2013, all of the Company’s cash including cash on hand and deposits in accounts were maintained within the PRC where there is currently no rule or regulation in place for obligatory insurance to cover bank deposits in the event of a bank’s failure. However, the Company has not experienced any such losses and believes it is not exposed to any significant risks on its cash in bank accounts
	The Company’s key customers are principally hog brokers, hog farmers and slaughterhouses, all of which are located in the PRC. The Company has not entered into long-term supply contracts with any of these major customers.
	During the three months ended March 31, 2014 and 2013, there was no customer that accounted for more than 10% of the Company’s revenue.
	Risk arising from operations in foreign countries
	Substantially all of the Company’s operations are conducted in China. The Company’s operations are subject to various political, economic, and other risks and uncertainties inherent in China. Among other risks, the Company’s operations are subject to the risks of restrictions on transfer of funds; changing taxation policies; foreign exchange restrictions; and political conditions and governmental regulations.
	Risk arising from contractual arrangements with Fengze
	The Company conducts substantially all of its operations, and generates substantially all of its revenues, through contractual arrangements with Fengze that provide the Company with effective control over Fengze. The Company depends on Fengze to hold and maintain contracts with its customers. Fengze owns substantially all of the Company’s intellectual property, facilities and other assets relating to the operation of the Company’s business, and employs the personnel for substantially all of its business. Neither Tianli, nor HCS nor WFOE has any ownership interest in Fengze. Although WFOE’s contractual arrangements with Fengze are valid, binding and enforceable under current PRC laws and regulations, these contractual arrangements may not be as effective in providing the Company with control over Fengze as direct ownership of Fengze would.

19_GOVERNMENT_SUBSIDIES

19. GOVERNMENT SUBSIDIES	3 Months Ended
	Mar. 31, 2014
Notes to Financial Statements	'
GOVERNMENT SUBSIDIES	'
	The Company received subsidies of $0 and $95,589 in the three months ended March 31, 2014 and 2013, respectively for recurring breeder hog subsidies and an award from the provincial government for the Company becoming a public company in the United States. All such subsidies are recorded as “subsidy income” in the financial statements.

20_COMMITMENTS_AND_CONTINGENCI

20. COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2014
Notes to Financial Statements	'
COMMITMENTS AND CONTINGENCIES	'
	General
	The Company follows ASC 450, Accounting for Contingencies, in determining its accruals and disclosures with respect to loss contingencies. Accordingly, estimated losses from loss contingencies are accrued by a charge to income when information available prior to issuance of the financial statements indicates that it is probable that a liability could be been incurred and the amount of the loss can be reasonably estimated. Legal expenses associated with the contingency are expensed as incurred. If a loss contingency is not probable or reasonably estimable, disclosure of the loss contingency is made in the financial statements when it is at least reasonably possible that a material loss could be incurred. The Company has not accounted for any loss contingencies as of March 31, 2014 and December 31, 2013.
	Lease obligations
	The Company leases office space that has a remaining term of nine years.  Also as a condition of being the holder of the land use rights for its hog farms, the Company makes rental payments to the government over the term of the land use rights, which range from 19 years to 50 years. The Company does not have capital leases. In most cases, management expects that, in the normal course of business, leases will be renewed or replaced. Net rental expense relating to the Company’s operating leases for the three month periods ended March 31, 2014 and 2013 was $21,537 and $20,785, respectively.
	The following table sets forth the aggregate minimum future annual rental commitments at March 31, 2014 under all non-cancelable leases for years ending December 31:
		Operating Leases
	2014 (full year)	$	86,149
	2015	$	86,149
	2016	$	86,149
	2017	$	85,945
	2018	$	85,332
	Thereafter	$	1,642,284
	Capital expenditures
	The Company’s execution of the Enshi Black Hog program will require the Company to incur various costs and contribute various amounts to cover the costs of different aspects of the program as more fully described above. As of March 31, 2014, the Company had provided funds totaling RMB 69,194,000 or $11.23 million. to local independent farmers to construct small-scale hog farms in which the farmers will grow the black hogs for sale to the Company. All construction had been completed in 2013 and became fixed assets of the Company. No additional investment was made after December 31, 2013.
	Environmental matters
	Environmental laws and regulations to which the Company is subject mandate additional concerns and requirements of the Company. Failure to comply with applicable laws, regulations and permits can result in injunctive actions, damages and civil and criminal penalties. The laws and regulations applicable to the Company's activities change frequently and it is not possible to predict the potential impact on the Company from any such future changes.
	Although management believes that the Company is in material compliance with the statutes, laws, rules and regulations of every jurisdiction in which it operates, no assurance can be given that the Company’s compliance with the applicable statutes, laws, rules and regulations will not be challenged by governing authorities or private parties, or that such challenges will not lead to material adverse effects on the Company’s financial position, results of operations, or cash flows.
	The Company is not involved in any legal matters. While incapable of estimation, in the opinion of the management, the individual regulatory and legal matters in which it might be involved in the future are not expected to have a material adverse effect on the Company’s financial position, results of operations, or cash flows.

21_SEGMENT_INFORMATION

21. SEGMENT INFORMATION	3 Months Ended
	Mar. 31, 2014
Segment Reporting [Abstract]	'
SEGMENT INFORMATION	'
	The Company follows FASB ASC 280-Segment Reporting, which requires that companies disclose segment data based on how management makes decision about allocating resources to segments and evaluating their performance. As of March 31, 2014 and December 31, 2013, the Company has two operating segments identified by products, “Hog Farming” and “Retail”. The hog farming segment consists of sales of breeder hogs and  market hogs raised by the Company and participants in the black hog program that were sold to meat processors. The Company’s retail segment consists of the selling of specialty pork products through supermarkets, restaurants, and hotels.
	The Company primarily evaluates performance based on income before income taxes and excluding non-recurring items.
	Condensed financial information with respect to these reportable business segments for the three months ended March 31, 2014 and 2013 is as follows:
	Three Months Ended March 31, 2014	Hog Farming			Retail		Consolidated
	Segment revenues	$	9,238,940		$	477,689	$	9,716,629
	Inter-segment revenues		-			-		-
	Revenues from external customers	$	9,238,940		$	477,689	$	9,716,629
	Segment income	$	202,508		$	188,193	$	390,701
	Unallocated corporate loss							(89,676	)
	Income before income taxes							301,025
	Income taxes							-
	Net income						$	301,025
	Other segment information:
	Depreciation and amortization	$	879,498		$	4,529	$	884,027
	Three Months Ended March 31, 2013	Hog Farming			Retail		Consolidated
	Segment revenues	$	7,386,534		$	-	$	7,386,534
	Inter-segment revenues		-			-		-
	Revenues from external customers	$	7,386,534		$	-	$	7,386,534
	Segment loss	$	(133,239	)	$	-	$	(133,239	)
	Unallocated corporate loss							-
	Loss before income taxes							(133,239	)
	Income taxes							(45,324	)
	Net loss						$	(178,563	)
	Other segment information:
	Depreciation and amortization	$	800,471		$	-	$	800,471
	As of March 31, 2014	Hog Farming			Retail		Consolidated
	Total segment assets	$	60,305,516		$	202,334	$	60,507,850
	Other unallocated corporate assets							119,004
							$	60,626,854
	Other segment information:
	Expenditures for segment assets	$	3,467		$	-	$	3,467
	As of December 31, 2013
	Total segment assets	$	53,991,058		$	414,078	$	54,405,136
	Other unallocated corporate assets							21,915
							$	54,427,051
	Other segment information:
	Expenditures for segment assets	$	701,923		$	48,636	$	750,559

22_SUBSEQUENT_EVENT

22. SUBSEQUENT EVENT	3 Months Ended
	Mar. 31, 2014
Subsequent Events [Abstract]	'
SUBSEQUENT EVENT	'
	On April 10, 2014, the Company entered into a subscription agreement with Mr. Ping Wang, the Chairman and CEO, for the issuance and sale of 2,600,000 of the common shares (the “Shares”), representing approximately 15.33% of the Company’s outstanding 16,964,000 common shares, for a total purchase price of $5,720,000, or $2.20 per share. After giving effect to the sale, Mr. Wang will own 5,600,000 common shares, representing approximately 28.6% of the Company’s outstanding common shares.

2_BASIS_OF_PRESENTATION_AND_SU1

2. BASIS OF PRESENTATION AND SUMMARY (Policies)	3 Months Ended
	Mar. 31, 2014
Notes to Financial Statements	'
Basis of Presentation	'
	Basis of Presentation
	The accompanying consolidated financial statements have been prepared in conformity with US GAAP. The basis of accounting differs from that used in the statutory accounts of the Company, which are prepared in accordance with the accounting principles of the PRC (“PRC GAAP”). The Company’s functional currency is the Chinese Renminbi (“RMB”); however the accompanying consolidated financial statements have been translated and presented in United States Dollars (“USD”). All significant intercompany transactions and balances have been eliminated.
Use of Estimates	'
	Use of Estimates
	The preparation of these financial statements in conformity with generally accepted accounting principles requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and the related disclosure of contingent assets and liabilities at the date of these financial statements and the reported amounts of revenues and expenses during the reporting period. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Accordingly, actual results may differ from these estimates. Significant estimates include the useful lives of property and equipment, land use rights and biological assets, and assumptions used in assessing impairment for long-term assets.
Principles of Consolidation	'
	Principles of Consolidation
	Pursuant to US GAAP, Fengze is the VIE of the Company and the Company is the primary beneficiary of the VIE. Accordingly, the VIE has been consolidated in the Company’s financial statements.
	Based on various VIE agreements, the Company is able to exercise control over the VIE, and obtain the financial interests such as the periodic income of the VIE through the EMA, PEA, and OA and to acquire the net assets of VIE through purchase of their equities at essentially no cost. The Company therefore concluded that its interest in the VIE is not a non-controlling interest and therefore is not classified as such. Based on the Exclusive Agreements the amount of controlling interest of the Fengze shareholders, who are holding shares of the VIE for the Company, is zero. They exercise no controls over the VIE and no financial interests of ownership are due to them either for periodic income or the net assets.
Cash and Cash Equivalents	'
	Cash and Cash Equivalents
	Cash and cash equivalents consist of all cash balances and highly liquid investments with an original maturity of three months or less. Because of the short maturity of these investments, the carrying amounts approximate their fair value.  Restricted cash is excluded from cash and cash equivalents.
Accounts Receivable	'
	Accounts Receivable
	Accounts receivable is stated at cost, net of an allowance for doubtful accounts. The Company maintains allowances for doubtful accounts for estimated losses resulting from the failure of customers to make required payments. The Company reviews the accounts receivable on a periodic basis and makes allowances where there is doubt as to the collectability of individual balances. In evaluating the collectability of individual receivable balances, the Company considers many factors, including the age of the balance, the customer’s payment history, its current credit-worthiness and current economic trends.
	The Company accrued allowance for doubtful accounts of $18,514 and $10,178 at March 31, 2014 and December 31, 2013.
Inventories	'
	Inventories
	Inventories are stated at the lower of cost, as determined by the weighted-average method, or market. Management compares the cost of inventories with the market value, and allowance is made for writing down the inventories to their market value if that is lower. Costs of raised animals include proportionate costs of breeding, including amortization of the breeding herd or biological assets, plus the costs of feed and other maintenance costs through the balance sheet date. Management inspects and monitors inventory on a continual basis.
Advances to Suppliers	'
	Advances to Suppliers
	Advances to suppliers at March 31, 2014 and December 31, 2013 totaled $2,129,898 and $1,612,492, respectively, and includes prepayments to suppliers for merchandise and raw materials that had not yet been shipped to us. We recognize prepayments as inventory or expense as suppliers make delivery of goods in compliance with our accounting policy. Included in advances to suppliers as of March 31, 2014 and December 31, 2013, the Company had prepayments of $1,992,258 and $1,440,167, respectively, to its premix feed supplier.
Plant and Equipment	'
	Plant and Equipment
	The Company states plant and equipment at cost less accumulated depreciation. Expenditures for maintenance and repairs are charged to operations as incurred; additions, renewals and betterments are capitalized. When plant and equipment assets are retired or otherwise disposed of, the related cost and accumulated depreciation are removed from the respective accounts, and any resulting gain or loss is recorded as an operating expense. In accordance with US GAAP, the Company examines the possibility of decreases in the value of plant and equipment when events or changes in circumstances reflect the fact that their recorded value may not be recoverable. The Company computes depreciation using the straight-line method over the estimated useful lives of the assets with a residual value of 5% of plant and equipment.
	Estimated useful lives of the Company’s assets are as follows:
Construction in Progress	'
	Construction in Progress
	Construction in progress consists of amounts expended for building construction of new breeding and animal rearing facilities. Once the building construction is completed and the facilities are approved for adequate breeding and animal rearing activity, the construction in progress assets are categorized as buildings and production equipment and are then accounted for in plant and equipment. Assets accounted for as plant and equipment are used in the Company’s production process, whereupon they are depreciated over their estimated useful lives.
Biological Assets	'
	Biological Assets
	Biological assets consist primarily of hogs purchased or selected from the Company’s own production for breeding and farrowing, which management believes will produce piglets that grow faster and have better quality breeding capabilities and carcasses with a high percentage of meat and a small quantity of fat. The costs to purchase and cultivate these breeding hogs and the expenditures related to labor and materials to feed the breeding hogs until they become commercially productive and breedable are capitalized. When these breeding hogs are entered into breeding and farrowing production, amortization of the costs of these breeding hogs commences. The estimated production life for breeding hogs is three years, and the costs are amortized to a residual value of $76 (RMB 500). After the breeding hogs have completed their production life of breeding, these breeding hogs are then transferred into inventory as the vast majority of these breeding hogs will then be sold for meat processing. Expenses incurred maintaining breeding hogs during gestation until piglets are weaned are capitalized into inventory and included in Work in process—biological assets, a component of inventories. If these breeding hogs produce piglets which are deemed appropriate for internal breeding purposes, the gestation and raising costs until weaned for these piglets are then allocated into biological assets.
	Amortized expenses pertaining to biological assets are included in inventory costs for those piglets to be sold and ultimately become a component of cost of goods sold.
Intangible Assets	'
	Intangible Assets
	Included in the intangible assets are land use rights. According to the laws of the PRC, the government owns all the land in the PRC. Companies or individuals are authorized to possess and use the land only through land use rights granted by the Chinese government. Land use rights are being amortized using the straight-line method over their lease terms.
	The Company carries land use rights at cost less accumulated amortization. In accordance with US GAAP, the Company examines the possibility of decreases in the value of land use rights when events or changes in circumstances reflect the fact that their recorded value may not be recoverable. The Company computes amortization using the straight-line method over the 50 year life of the land use rights.
Impairment of Long-lived Assets	'
	Impairment of Long-lived Assets
	In accordance with US GAAP, the Company periodically reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable. The Company recognizes an impairment loss when the sum of expected undiscounted future cash flows is less than the carrying amount of the asset. The amount of impairment is measured as the difference between the asset’s estimated fair value and its book value. For the three months ended March 31, 2014 and 2013, the Company had recorded no impairment charges at its long-lived assets.
Fair Value of Financial Instruments	'
	Fair Value of Financial Instruments
	Effective January 1, 2008, the Company adopted ASC 820, Fair Value Measurements and Disclosure (“ASC 820”) for assets and liabilities measured at fair value on a recurring basis. ASC 820 establishes a common definition for fair value to be applied to existing generally accepted accounting principles that require the use of fair value measurements, establishes a framework for measuring fair value and expands disclosure about such fair value measurements. The adoption of ASC 820 did not have an impact on the Company’s financial position or operating results, but did expand certain disclosures.
	ASC 820 defines fair value as the price that would be received upon sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Additionally, ASC 820 requires the use of valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. These inputs are prioritized below:
	Level 1: Observable inputs such as quoted market prices in active markets for identical assets or liabilities
	Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data
	Level 3: Unobservable inputs for which there is little or no market data, which require the use of the reporting entity’s own assumptions.
	The Company did not identify any assets and liabilities that are required to be presented on the consolidated balance sheets at fair value in accordance with the relevant accounting standards.
	The carrying values of cash and cash equivalents, trade receivables and payables, and short-term bank loans and debts approximate their fair values due to the short maturities of these instruments.
Non-controlling Interest	'
	Non-controlling Interest
	Non-controlling interests in the Company’s subsidiaries are recorded in accordance with the provisions of ASC 810 and are reported as a component of equity, separate from the parent’s equity. Purchase or sale of equity interests that do not result in a change of control are accounted for as equity transactions. Results of operations attributable to the non-controlling interest are included in our consolidated results of operations and, upon loss of control, the interest sold, as well as interest retained, if any, will be reported at fair value with any gain or loss recognized in earnings.
Revenue Recognition	'
	Revenue Recognition
	The Company generates revenues from the business of breeding, raising, and selling hogs for use in Chinese pork meat production and the sale of hogs for breeding by other hog producers. From September 30, 2011 until June 15, 2012, the Company also generated revenue from selling specialty pork products to retailers. In the second quarter of 2013, the Company resumed selling specialty pork products to retailers.
	Revenues generated from the sales of breeding and meat hogs and specialty pork are recognized when these products are delivered to customers in accordance with previously agreed upon pricing and delivery arrangements, and the collectability of these sales is reasonably assured. Cash payment, which sometimes is in the form of wired cash transfers to the Company’s bank account, is usually received by the Company at the time the hogs are sold. Sold hogs and specialty pork are not returnable and accordingly, no provision has been made for returnable goods. The customers are responsible for the shipping of the
Segment Information	'
	Segment Information
	The Company follows FASB ASC 280-Segment Reporting, which requires that companies disclose segment data based on how management makes decision about allocating resources to segments and evaluating their performance.
	Starting from the second quarters of 2013, the Company entered into distribution agreements with supermarkets whereby the Company is permitted to sell specialty pork products in the supermarkets’ retail facilities. Consequently, management has determined that the Company is operating in two segments, hog farming and retail.
Income Taxes	'
	Income Taxes
	The Company accounts for income taxes under the provisions of Section 740-10-30 of the FASB Accounting Standards Codification, which is an asset and liability approach that requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in its financial statements or tax returns. The Company did not have any deferred tax assets or liabilities as of March 31, 2014 and December 31, 2013.
	The Company is subject to the Enterprise Income Tax law (“EIT”) of the People’s Republic of China. However, according to the EIT, companies that are engaged in the agricultural business and primary processing of agricultural products are exempt from the 25% enterprise income tax. The Company is engaged in breeding, raising, and selling hogs for use in Chinese pork meat production and hog breeding, which is exempt from the Chinese income tax. Tianli is incorporated in the British Virgin Islands.  Under the current tax laws of the British Virgin Islands, the Company is not subject to income taxes.
	In addition, the Company is not subject to the PRC’s 17% VAT tax for hog sales or the 5% business tax levied on incomes from services rendered. According to the PRC tax regulations, companies engaging in the agricultural business are exempt from these taxes. With respect to the Company’s retail operations, the Company is engaged in breeding, processing, and distributing black hogs and black hog meats which are exempt from VAT taxes and corporate income tax as well.
Basic and Diluted Earnings per Share	'
	Basic and Diluted Earnings per Share
	The Company reports earnings per share in accordance with FASB ASC 260 “Earnings per share”. The Company’s basic earnings per share are computed using the weighted average number of shares outstanding for the periods presented. Diluted earnings per share are computed based on the assumption that any dilutive options or warrants were converted or exercised. Dilution is computed by applying the treasury stock method.  Under this method, the Company’s outstanding stock warrants are assumed to be exercised, and funds thus obtained were assumed to be used to purchase common stock at the average market price during the period.  There were no dilutive instruments outstanding during the three month periods ended March 31, 2014 and 2013.
Foreign Currency Translation	'
	Foreign Currency Translation
	As of March 31, 2014 and December 31, 2013, the accounts of Tianli were maintained and its financial statements were expressed in Chinese Renminbi (RMB). Such financial statements were translated into United States Dollars (USD) in accordance with US GAAP, with the RMB as the functional currency. All assets and liabilities are translated at the current exchange rates as of the balance sheet dates. These rates were RMB 6.16 per US dollar and RMB 6.11 per US dollar as of March 31, 2014 and December 31, 2013, respectively. Stockholders’ equity is translated at the historical rates and items in the statements of operations and cash flows are translated at the average exchange rate for the period. The resulting translation adjustments are reported under other comprehensive income in accordance with US GAAP as a component of stockholders’ equity.
	During the three months ended March 31, 2014 and 2013, the transactions of Tianli were denominated and recorded in RMB and are translated at the average rates of exchange for the period. There rates were RMB 6.12 and RMB 6.28 per US dollar for the three months ended March 31, 2014 and 2013, respectively. Exchange gains and losses are recognized for the different foreign exchange rates applied when the foreign currency assets and liabilities are settled. Transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency are included in the results of operations as incurred.
Stock Based Compensation	'
	Stock Based Compensation
	In December 2004, the Financial Accounting Standards Board, or FASB, issued FASB ASC 718-10-55 - Compensation-Stock Compensation, or ASC 718-10-55. Under ASC 718-10-55, companies are required to measure the compensation costs of share-based compensation arrangements based on the grant-date fair value and recognize the costs in the financial statements over the period during which employees are required to provide services. Share-based compensation arrangements include stock options, restricted share plans, performance-based awards, share appreciation rights and employee share purchase plans. In addition, FASB ASC 825-10-50-10 – Financial Instruments – Overall – Disclosures, or ASC 825-10-50-10, expresses views of the Securities and Exchange Commission, or the SEC, staff regarding the interaction between ASC 718-10-55 and certain SEC rules and regulations and provides the staff's views regarding the valuation of share-based payment arrangements for public companies. The Company’s compensation cost is measured on the date of grant at its fair value. Such compensation amounts, if any, are amortized over the respective vesting periods or period of service of the option grant.
Contingencies	'
	Contingencies
	Certain conditions may exist as of the date the financial statements are issued, which may result in a loss to the Company but which will only be resolved when one or more future events occur or fail to occur. The Company’s management and legal counsel assess such contingent liabilities, and such assessments inherently involve an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against the Company or unasserted claims that may result in such proceedings, the Company’s legal counsel evaluates the perceived merits of any legal proceedings or unasserted claims as well as the perceived merits of the amount of relief sought or expected to be sought.
	If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s financial statements. If the assessment indicates that a potential material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, together with an estimate of the range of possible loss if determinable and material would be disclosed.
	Loss contingencies considered to be remote by management are generally not disclosed unless they involve guarantees, in which case the guarantee would be disclosed.
Accrual of Environmental Obligations	'
	Accrual of Environmental Obligations
	ASC Section 410-30-25 “Recognition” of environmental obligations requires the accrual of a liability if both of the following conditions are met:
	a)  Information available before the financial statements are issued or are available to be issued indicates that it is probable that an asset has been impaired or a liability has been incurred at the date of the financial statements.
	b)  The amount of the loss can be reasonably estimated.
	As of March 31, 2014 and December 31, 2013, the Company did not have any environmental remediation obligations, nor did it have any asset retirement obligations under ASC 410. Furthermore, the Company did not have any environmental remediation loss contingencies requiring recognition or disclosure in its financial statements.
Recently Issued Accounting Pronouncements	'
	Recently Issued Accounting Pronouncements
	In April 2014, the Financial Accounting Standards Board (the “FASB”) issued an accounting standard that raises the threshold for disposals to qualify as discontinued operations and requires new disclosures of both discontinued operations and certain other disposals that do not meet the definition of a discontinued operation. The standard revised the definition of a discontinued operation to cover only asset disposals that are considered to be a strategic shift with a major impact on an entity's operations and finances, such as the disposal of a major geographic area or a significant line of business. Application of the standard, which is to be applied prospectively, is required for fiscal years beginning on or after December 15, 2014, and for interim periods within that year. The Company currently plans to adopt the standard in January 2015.
	Based on the Company’s initial assessment of the standard, the Company expects that any potential future disposals of its hog farms will not be reported as discontinued operations and that the results of operations of any such disposed hog farms, including revenues, costs and any gains or losses on disposal, will be classified as continuing operations within the Consolidated Statements of Operations and Comprehensive Income for all periods presented through the date of disposition.

3_ACCOUNTS_RECEIVABLE_Tables

3. ACCOUNTS RECEIVABLE (Tables)	3 Months Ended
	Mar. 31, 2014
Accounts Receivable Tables	'
Accounts receivable	'
		March 31,			December 31,
		2014			2013
	Accounts receivable	$	200,363		$	266,785
	Less: Allowance for doubtful accounts		(18,514	)		(10,178	)
		$	181,849		$	256,607

4_INVENTORIES_Tables

4. INVENTORIES (Tables)	3 Months Ended
	Mar. 31, 2014
Inventories Tables	'
INVENTORIES	'
		March 31,			December 31,
		2014			2013
	Raw materials	$	1,295,898		$	1,750,125
	Work in process—biological assets		3,928,751			4,643,256
	Infant hogs		4,738,544			4,968,112
	Finished goods—specialty pork products		193,898			209,205
	Less: inventory reserve		(171,458	)		(85,912	)
		$	9,985,633		$	11.484,786

7_PLANT_AND_EQUIPMENT_Tables

7. PLANT AND EQUIPMENT (Tables)	3 Months Ended
	Mar. 31, 2014
Plant And Equipment Tables	'
PLANT AND EQUIPMENT	'
		March 31,			December 31,
		2014			2013
	Buildings	$	26,083,314		$	26,254,084
	Vehicles		732,266			738,438
	Office equipment		486,912			535,206
	Production equipment		2,596,286			2,618,167
			29,898,778			30,145,895
	Less: Accumulated depreciation		(7,464,495	)		(6,960,163	)
		$	22,434,283		$	23,185,732

9_BIOLOGICAL_ASSETS_Tables

9. BIOLOGICAL ASSETS (Tables)	3 Months Ended
	Mar. 31, 2014
Biological Assets Tables	'
BIOLOGICAL ASSETS	'
		March 31,			December 31,
		2014			2013
	Breeding hogs	$	7,042,711		$	7,120,342
	Less: Accumulated amortization		(4,191,169	)		(3,843,502	)
		$	2,851,542		$	3,276,840

10_LONGTERM_PREPAID_EXPENSES_T

10. LONG-TERM PREPAID EXPENSES (Tables)	3 Months Ended
	Mar. 31, 2014
Long-Term Prepaid Expenses Tables	'
Long-term prepaid expenses	'
		March 31,			December 31,
		2014			2013
	Long-term prepaid rental expenses	$	1,820,302		$	1,835,644
	Less: Accumulated amortization		(248,870	)		(229,456	)
		$	1,571,432		$	1,606,188

11_INTANGIBLE_ASSETS_Tables

11. INTANGIBLE ASSETS (Tables)	3 Months Ended
	Mar. 31, 2014
Intangible Assets Tables	'
Intangible Assets	'
		March 31,			December 31,
		2014			2013
	Land use rights	$	1,720,541		$	1,735,042
	Less: Accumulated amortization		(265,142	)		(254,411	)
		$	1,455,399		$	1,480,631

12_SHORTTERM_LOANS_Tables

12. SHORT-TERM LOANS (Tables)	3 Months Ended
	Mar. 31, 2014
Short-Term Loans Tables	'
Short-term loans	'
		31-Mar-14		31-Dec-13
	Loan payable to Wuhan Rural Commercial Bank, annual interest rate of 8.4%, due by June 19, 2014, guaranteed by Wuhan Science and Technology Guarantee Co., Ltd.	$	778,981	$	785,546
	Loan payable to Shanghai Pudong Development Bank, annual interest rate of 7.2%, due by December 4,  2014, guaranteed by Wuhan Agriculture Guarantee Co., Ltd. and Tianzhili,, secured by certain assets of the Company.		1,622,876		1,636,554
	Loan payable to Communication Bank of China, annual interest rate of 7.28%, due by December 16, 2014, guaranteed by Wuhan Science and Technology Guarantee Co., Ltd.		1,622,876		1,636,554
	Loan payable to Wuhan Rural Commercial Bank, annual interest rate of 8.4%, due by November 6, 2014 with collateral provided by Mr. Xin Zhang.		843,896		851,008
	Loan payable to Industrial and Commercial Bank of China, annual interest rate of 7.8%, due by December 3, 2014, with collateral provided by Wuhan East Lake Hi-Tech Innovation Center		1,460,588		1,472,899
	Loan payable to Shanghai Pudong Development Bank, annual interest rate of 8.4%, due by February 6, 2015, guaranteed by Wuhan Agriculture Guarantee Co., Ltd. and Tianzhili and secured by certain assets of the Company.		1,136,013		-
	Loan payable to Shanghai Pudong Development Bank, annual interest rate of 8.4%, due by January 21, 2015, guaranteed by Wuhan Agriculture Guarantee Co., Ltd. and Tianzhili and secured by certain assets of the Company.		486,863		-
		$	7,952,093	$	6,382,561

13_ACCOUNTS_PAYABLE_AND_ACCRUE1

13. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Tables)	3 Months Ended
	Mar. 31, 2014
Accounts Payable And Accrued Liabilities Tables	'
Account Payable abd Accrued Liability	'
		March 31,		December 31,
		2014		2013
	Accounts payable	$	7,078	$	157
	Other taxes payable		419		542
	Others		-		48,197
		$	7,497	$	48,896

14_OTHER_PAYABLES_Tables

14. OTHER PAYABLES (Tables)	3 Months Ended
	Mar. 31, 2014
Other Payables Tables	'
Aggregate future amortization expenses	'
		Amortization
	2014	$	380,820
	2015	$	380,820
	2016	$	380,820
	2017	$	380,820
	2018	$	380,820
	Thereafter	$	1,229,707

16_CAPITAL_STOCK_Tables

16. CAPITAL STOCK (Tables)	3 Months Ended
	Mar. 31, 2014
Capital Stock Tables	'
Estimated fair value of the director options	'
		Director Options		Placement Agent
				\Warrants
	Estimated Fair Value Per Option or Warrant	$	2.47	$	0.56
	Stock Price at Date of Grant	$	5.66	$	4.36
	Assumptions:
	Dividend Yield		0%		0%
	Stock Price Volatility		50.80%		31.30%
	Risk-Free Interest Rate		1.60%		1.40%
Stock options and warrants outstanding	'
		Options			Weighted Average Exercise Price		Warrants		Weighted Average Exercise Price
	Outstanding as of December 31, 2013		26,000		$	6		210,000	$	7.21
	Granted		-			-		-		-
	Exercised		-			-		-		-
	Forfeited		-			-		-		-
	Outstanding at March 31, 2014		26,000		$	6		210,000	$	7.21
	Exercisable at March 31, 2014		26,000		$	6		210,000	$	7.21

20_COMMITMENTS_AND_CONTINGENCI1

20. COMMITMENTS AND CONTINGENCIES (Tables)	3 Months Ended
	Mar. 31, 2014
Commitments And Contingencies Tables	'
Aggregate minimum future annual rental commitments	'
		Operating Leases
	2014 (full year)	$	86,149
	2015	$	86,149
	2016	$	86,149
	2017	$	85,945
	2018	$	85,332
	Thereafter	$	1,642,284

21_SEGMENT_INFORMATION_Tables

21. SEGMENT INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2014
Segment Information Tables	'
Schedule of reportable business segments	'
	Condensed financial information with respect to these reportable business segments for the three months ended March 31, 2014 and 2013 is as follows:
	Three Months Ended March 31, 2014	Hog Farming			Retail		Consolidated
	Segment revenues	$	9,238,940		$	477,689	$	9,716,629
	Inter-segment revenues		-			-		-
	Revenues from external customers	$	9,238,940		$	477,689	$	9,716,629
	Segment income	$	202,508		$	188,193	$	390,701
	Unallocated corporate loss							(89,676	)
	Income before income taxes							301,025
	Income taxes							-
	Net income						$	301,025
	Other segment information:
	Depreciation and amortization	$	879,498		$	4,529	$	884,027
	Three Months Ended March 31, 2013	Hog Farming			Retail		Consolidated
	Segment revenues	$	7,386,534		$	-	$	7,386,534
	Inter-segment revenues		-			-		-
	Revenues from external customers	$	7,386,534		$	-	$	7,386,534
	Segment loss	$	(133,239	)	$	-	$	(133,239	)
	Unallocated corporate loss							-
	Loss before income taxes							(133,239	)
	Income taxes							(45,324	)
	Net loss						$	(178,563	)
	Other segment information:
	Depreciation and amortization	$	800,471		$	-	$	800,471
	As of March 31, 2014	Hog Farming			Retail		Consolidated
	Total segment assets	$	60,305,516		$	202,334	$	60,507,850
	Other unallocated corporate assets							119,004
							$	60,626,854
	Other segment information:
	Expenditures for segment assets	$	3,467		$	-	$	3,467
	As of December 31, 2013
	Total segment assets	$	53,991,058		$	414,078	$	54,405,136
	Other unallocated corporate assets							21,915
							$	54,427,051
	Other segment information:
	Expenditures for segment assets	$	701,923		$	48,636	$	750,559

3_ACCOUNTS_RECEIVABLE_Details

3. ACCOUNTS RECEIVABLE (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Accounts Receivable Details	'	'
Accounts receivable	$200,363	$266,785
Less: Allowance for doubtful accounts	-18,514	-10,178
Accounts receivable, net	$181,849	$256,607

4_INVENTORIES_Details

4. INVENTORIES (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Components of inventory	'	'
Raw materials	$1,295,898	$1,750,125
Work in process-biological assets	3,928,751	4,643,256
Infant hogs	4,738,544	4,968,112
Finished goodsbspecialty pork products	193,898	209,205
Less: inventory reserve	-171,458	-85,912
Inventory	$9,985,633	$11,484,786

5_ADVANCES_TO_SUPPLIERS_Detail

5. ADVANCES TO SUPPLIERS (Details Narrative) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Advances to suppliers	'	'
Advances to suppliers	$2,129,898	$1,612,492

6_OTHER_RECEIVABLES_Details_Na

6. OTHER RECEIVABLES (Details Narrative) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Other Receivables	'	'
Other receivables	$281,889	$1,181,078
Allowance for doubtful receivables	60,971	61,485
Shanghai Pudong Development Bank, annual interest rate of 7.2%	'	'
Other Receivables	'	'
Other receivables	$240,186	$163,655

7_PLANT_AND_EQUIPMENT_Details

7. PLANT AND EQUIPMENT (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Plant and equipment	'	'
Plant and equipment, Gross	$29,898,778	$30,145,895
Less: Accumulated depreciation	-7,464,495	-6,960,163
Plant and equipment, Net	22,434,283	23,185,732
Building [Member]	'	'
Plant and equipment	'	'
Plant and equipment, Gross	26,083,314	26,254,084
Vehicles [Member]	'	'
Plant and equipment	'	'
Plant and equipment, Gross	732,266	738,438
Office Equipment [Member]	'	'
Plant and equipment	'	'
Plant and equipment, Gross	486,912	535,206
ProductionEquipmentMember	'	'
Plant and equipment	'	'
Plant and equipment, Gross	$2,596,286	$2,618,167

7_PLANT_AND_EQUIPMENT_Details_

7. PLANT AND EQUIPMENT (Details Narrative) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Plant And Equipment Details Narrative	'	'
Depreciation expense	$565,355	$449,022

8_CONSTRUCTION_IN_PROGRESS_Det

8. CONSTRUCTION IN PROGRESS (Details Narrative) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Construction In Progress Details Narrative	'	'
Construction in progress	$50,471	$50,897

9_BIOLOGICAL_ASSETS_Details

9. BIOLOGICAL ASSETS (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Biological Assets Details	'	'
Breeding hogs	$7,042,711	$7,120,342
Less: Accumulated amortization	-4,191,169	-3,843,502
Biological Assets, Net	$2,851,542	$3,276,840

9_BIOLOGICAL_ASSETS_Details_Na

9. BIOLOGICAL ASSETS (Details Narrative) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Biological Assets Details Narrative	'	'
Amortization on Biological Assets	$400,923	$350,405

10_LONGTERM_PREPAID_EXPENSES_D

10. LONG-TERM PREPAID EXPENSES (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Long-Term Prepaid Expenses Details	'	'
Long-term prepaid rental expenses	$1,820,302	$1,835,644
Less: Accumulated amortization	-248,870	-229,456
Long-term prepaid rental expenses, Net	$1,571,432	$1,606,188

10_LONGTERM_PREPAID_EXPENSES_D1

10. LONG-TERM PREPAID EXPENSES (Details Narrative) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Long-Term Prepaid Expenses Details Narrative	'	'
Amortization expense Long-term prepaid expenses	$21,493	$28,110
Annual estimated amortization expense of long-term prepaid expense for next five years and and thereafter	$85,972	'

11_INTANGIBLE_ASSETS_Details

11. INTANGIBLE ASSETS (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Land use rights	'	'
Land use rights	$1,720,541	$1,735,042
Less: Accumulated amortization	-265,142	-254,411
Land Use Rights, Net	$1,455,399	$1,480,631

11_INTANGIBLE_ASSETS_Details_N

11. INTANGIBLE ASSETS (Details Narrative) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Intangible Assets Details Narrative	'	'
Amortization expense Land Use Right	$12,954	$12,508
Estimated annual amortization expense of land use rights for next five years and thereafter	$51,816	'

12_SHORTTERM_LOANS_Details

12. SHORT-TERM LOANS (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Short-term loans, Total	$7,952,093	$6,382,561
Wuhan Rural Commercial Bank annual interest rate of 8.4%	'	'
Short-term loans, Total	778,981	785,546
Shanghai Pudong Development Bank, annual interest rate of 7.2%	'	'
Short-term loans, Total	1,622,876	1,636,554
Communication Bank Of China, annual interest rate of 7.28%	'	'
Short-term loans, Total	1,622,876	1,636,554
Wuhan Rural Commercial Bank, annual interest rate of 8.4%	'	'
Short-term loans, Total	843,896	851,008
Industrial and Commercial Bank of China, annual interest rate of 7.8%	'	'
Short-term loans, Total	1,460,588	1,472,899
Shanghai Pudong Development Bank, due by February 6, 2015	'	'
Short-term loans, Total	1,136,013	0
Shanghai Pudong Development Bank, due by January 21, 2015	'	'
Short-term loans, Total	$486,863	$0

13_ACCOUNTS_PAYABLE_AND_ACCRUE2

13. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Accounts Payable And Accrued Liabilities Details	'	'
Accounts payable	$7,078	$157
Other taxes payable	419	542
Others	0	48,197
Accounts payable and accrued liabilities	$7,497	$48,896

14_OTHER_PAYABLES_Details

14. OTHER PAYABLES (Details) (USD $)	Mar. 31, 2014
Other Payables Details	'
2014	$380,820
2015	380,820
2016	380,820
2017	380,820
2018	380,820
Thereafter	$1,229,707

14_OTHER_PAYABLES_Details_Narr

14. OTHER PAYABLES (Details Narrative) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Other Payables Details Narrative	'	'	'
Other payables	$3,146,825	'	$3,309,246
Deposit payable	3,133,807	'	3,255,504
Deposits from farmers	3,133,807	'	3,255,504
Amortization of deposit payables	$95,205	$39,573	'

15_RELATED_PARTY_TRANSACTIONS_

15. RELATED PARTY TRANSACTIONS (Details Narrative) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Related Party Transactions Details Narrative	'	'
Amount due to related party	$127,978	$139,430

16_CAPITAL_STOCK_Details

16. CAPITAL STOCK (Details) (USD $)	3 Months Ended
	Mar. 31, 2014
DirectorOptions[Member]	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Estimated Fair Value Per Option or Warrant	$2.47
Stock Price at Date of Grant	$5.66
Dividend Yield	0.00%
Stock Price Volatility	50.80%
Risk-Free Interest Rate	1.60%
Placement Agent Warrants [Member]	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Estimated Fair Value Per Option or Warrant	$0.56
Stock Price at Date of Grant	$4.36
Dividend Yield	0.00%
Stock Price Volatility	31.30%
Risk-Free Interest Rate	1.40%

16_CAPITAL_STOCK_Details_1

16. CAPITAL STOCK (Details 1) (USD $)	3 Months Ended
	Mar. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Outstanding Options, Beginning balance	26,000
Options, Granted	0
Options,Exercised	0
Options, Forfeited	0
Outstanding Options, Ending balance	26,000
Options, Exercisable	$26,000
Outstanding, Beginning BalanceWeighted Average Exercise Price	$6
Granted, Weighted Average Exercise Price	'
Exercised, Weighted Average Exercise Price	'
Forfeited, Weighted Average Exercise Price	'
Outstanding, Ending balance Weighted Average Exercise Price	$6
Weighted Average Exercise Price, Exercisable	$6
Warrants1Member	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Outstanding Options, Beginning balance	210,000
Options, Granted	0
Options,Exercised	0
Options, Forfeited	0
Outstanding Options, Ending balance	210,000
Outstanding, Beginning BalanceWeighted Average Exercise Price	$7.21
Granted, Weighted Average Exercise Price	'
Exercised, Weighted Average Exercise Price	'
Forfeited, Weighted Average Exercise Price	'
Outstanding, Ending balance Weighted Average Exercise Price	$7.21
Weighted Average Exercise Price, Exercisable	$7.21

17_STATUTORY_RESERVES_Details_

17. STATUTORY RESERVES (Details Narrative) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Statutory Reserves Details Narrative	'	'
Statutory surplus reserves	$2,416,647	$2,416,647

19_GOVERNMENT_SUBSIDIES_Detail

19. GOVERNMENT SUBSIDIES (Details Narrative) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Government Subsidies Details Narrative	'	'
Subsidy Income	$0	$95,589

20_COMMITMENTS_AND_CONTINGENCI2

20. COMMITMENTS AND CONTINGENCIES (Details) (USD $)	Mar. 31, 2014
Commitments And Contingencies Details	'
2014 (full year)	$86,149
2015	86,149
2016	86,149
2017	85,945
2018	85,332
Thereafter	$1,642,284

20_COMMITMENTS_AND_CONTINGENCI3

20. COMMITMENTS AND CONTINGENCIES (Details Narrative) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Commitments And Contingencies Details	'	'
Net rental expense	$21,537	$20,785
Funds provided to local independent farmers (Approximately)	$11,230,000	'

21_SEGMENT_INFORMATION_Details

21. SEGMENT INFORMATION (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Segment revenues	$9,716,629	$7,386,534	'
Inter-segment revenues	0	0	'
Revenues from external customers	9,716,629	7,386,534	'
Segment income	390,701	-133,239	'
Unallocated corporate loss	-89,676	0	'
Income before income taxes	301,025	-178,563	'
Income taxes	0	0	'
Net income	301,025	-178,563	'
Other segment information:	'	'	'
Depreciation and amortization	884,027	800,471	'
Total segment assets	60,507,850	'	54,405,136
Other unallocated corporate assets	119,004	'	21,915
Total	60,626,854	'	54,427,051
Other segment information:	'	'	'
Expenditures for segment assets	3,467	750,559	'
Hog Farming	'	'	'
Segment revenues	9,238,940	7,386,534	'
Inter-segment revenues	0	0	'
Revenues from external customers	9,238,940	7,386,534	'
Segment income	202,508	-133,239	'
Other segment information:	'	'	'
Depreciation and amortization	879,498	800,471	'
Total segment assets	60,305,516	'	53,991,058
Other segment information:	'	'	'
Expenditures for segment assets	3,467	701,923	'
Retail	'	'	'
Segment revenues	477,689	0	'
Inter-segment revenues	0	0	'
Revenues from external customers	477,689	0	'
Segment income	188,193	0	'
Other segment information:	'	'	'
Depreciation and amortization	4,529	0	'
Total segment assets	202,334	'	414,078
Other segment information:	'	'	'
Expenditures for segment assets	$0	$48,636	'