v2.4.1.9
PROPERTY, PLANT, AND EQUIPMENT
 3 Months Ended
Mar. 31, 2015
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Disclosure [Text Block]
NOTE 6. PROPERTY, PLANT, AND EQUIPMENT
 
Property, plant, and equipment consisted of the following:
 
 
 
March 31,
 
December 31,
 
 
 
2015
 
2014
 
Automobiles
 
$
1,022,012
 
$
1,021,089
 
Buildings
 
 
16,589,468
 
 
16,587,178
 
Office equipment
 
 
987,783
 
 
986,892
 
Machinery and equipment
 
 
8,890,087
 
 
8,869,381
 
Furniture and fixtures
 
 
111,717
 
 
111,615
 
Total cost
 
 
27,601,067
 
 
27,576,155
 
Less: Accumulated depreciation
 
 
(11,044,103)
 
 
(10,556,028)
 
Property, plant, and equipment, net
 
$
16,556,964
 
$
17,020,127
 
 
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 March 31, 2015, $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 three months ended March 31, 2015 and 2014 was $475,699 and $537,485, respectively.