v2.4.0.8

PROPERTY, PLANT, AND EQUIPMENT | 9 Months Ended
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Sep. 30, 2014
Property, Plant and Equipment [Abstract] |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 8. PROPERTY, PLANT, AND EQUIPMENT Property, plant, and equipment consisted of the following:
|  | September 30, |  | December 31, |
|  | 2014 |  | 2013 |
Automobiles |  | $ | 1,032,168 |  | $ | 1,046,542 |
Buildings |  |  | 16,767,156 |  |  | 17,480,188 |
Office equipment |  |  | 997,600 |  |  | 1,012,007 |
Machinery and equipment |  |  | 8,789,228 |  |  | 8,386,357 |
Furniture and fixtures |  |  | 112,827 |  |  | 114,398 |
Total cost |  |  | 27,698,979 |  |  | 28,039,492 |
Less: Accumulated depreciation |  |  | (10,159,939) |  |  | (8,788,441) |
Property, plant, and equipment, net |  | $ | 17,539,040 |  | $ | 19,251,051 |
The buildings owned by the Company located in Jinzhong and Quwo in Shanxi Province, China are used for production, warehousing and offices for our corn and grains business. As of September 30, 2014, $5.7 million (RMB 35.2 million) of buildings, machinery and equipment owned by the Taizihu Group were pledged as collateral for short-term bank loans. Depreciation expense for the nine months ended September 30, 2014 and 2013 was $1,484,373 and $1,474,093, respectively.

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- Definition The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2921-110230 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.13-14) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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