PROPERTY AND EQUIPMENT, NET

6 Months Ended

Jun. 30, 2014

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

PROPERTY AND EQUIPMENT, NET

Property and equipment consist of the following:

	June 30,		December 31,
	2014		2013
	US$		US$
Buildings		1,382,056		1,405,723
Land use rights		315,706		321,112
Plant and machinery		5,351,862		3,282,641
Automobiles		44,229		44,987
Office and computer equipment		191,257		438,843
		7,285,110		5,493,306

Less: Accumulated depreciation and amortization		(2,518,742)		(2,329,241)
Property and equipment, net		4,766,368		3,164,065

At June 30, 2014 and December 31, 2013, BTL’s building was pledged to a bank as collateral for short-term borrowings of RMB15,000,000 (US$2,436,000) and RMB15,000,000 (US$ 2,477,715), respectively (see Note 6).

Depreciation expense was $229,322 and $229,392, for the six months ended June 30, 2014 and 2013, 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 of RMB1,944,000 in 2002.

- 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+ Details