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PROPERTY AND EQUIPMENT, NET
 12 Months Ended
Dec. 31, 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:

 

    December 31,  
    2012     2011  
    US$     US$  
Buildings     1,365,717       1,349,624  
Land use rights     311,973       308,297  
Plant and machinery     2,980,087       2,973,593  
Automobiles     43,706       43,869  
Office and computer equipment     524,154       503,833  
      5,225,637       5,179,216  
                 
Less: Accumulated depreciation and amortization     (2,330,114 )     (1,830,683 )
Property and equipment, net     2,895,523       3,348,533  

 

At December 31, 2012 and 2011, BTL’s building was pledged to a bank as collateral for short-term borrowings of RMB15,000,000 (US$2,407,200) and RMB10,000,000(US$1,585,890), respectively (see Note 8).

 

Depreciation and amortization expense was $471,727 and $450,518, for the years ended December 31, 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).