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PROPERTY AND EQUIPMENT, NET
 6 Months Ended
Jun. 30, 2012
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Disclosure [Text Block]
5. PROPERTY AND EQUIPMENT, NET

 

Property and equipment consist of the following:

 

    June 30,     December 31,  
    2012     2011  
    US$     US$  
Buildings     1,339,105       1,349,624  
Land use rights     305,894       308,297  
Plant and machinery     2,950,418       2,973,593  
Automobiles     43,527       43,869  
Office and computer equipment     476,328       503,833  
      5,115,272       5,179,216  
                 
Less: Accumulated depreciation and amortization     (2,051,906 )     (1,830,683 )
Property and equipment, net     3,063,366       3,348,533  

 

At June 30, 2012 and December 31, 2011, BTL’s building was pledged to a bank as collateral for short-term borrowings of RMB15,000,000 (US$2,360,295) and RMB10,000,000(US$1,585,890), respectively (see Note 8).

 

Depreciation and amortization expense was $246,448, $219,976, $127,724 and $110,603 for the six and three months ended June 30, 2012 and 2011, respectively.

 

Land Use Rights

 

There is no private ownership of land in China. Land is owned by the government and the government grants land use rights for specified terms. The Company’s land use rights are reported at the purchase price (RMB1,944,000 in 2002).