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3. Property, Plant and Equipment | 6 Months Ended
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Jun. 30, 2013
Property, Plant and Equipment [Abstract] |
3. Property, Plant and Equipment | Property, plant and equipment consist of the following:
|  | June 30, 2013 |  |  | December 31, 2012 |
Land |  | $ | 2,787,062 |  |  | $ | 2,837,780 |
Plant and buildings |  |  | 82,477,629 |  |  |  | 83,004,928 |
Furniture and fixtures |  |  | 375,012 |  |  |  | 376,333 |
Machinery and equipment |  |  | 2,229,554 |  |  |  | 2,615,140 |
Construction in progress |  |  | 29,263 |  |  |  | 82,627 |
Total gross property, plant & equipment |  |  | 87,898,520 |  |  |  | 88,916,808 |
Less accumulated depreciation |  |  | (7,158,350 | ) |  |  | (5,023,336 | )
Total net property, plant & equipment |  | $ | 80,740,170 |  |  | $ | 83,893,472 |
For the three months ended June 30, 2013 and June 30, 2012, the Company recorded depreciation expense of $1,153,167 and $419,549, respectively. For the six months ended June 30, 2013 and June 30, 2012, the Company recorded depreciation expense of $2,318,422 and $764,466, respectively. Management is required to evaluate these long-lived assets for impairment whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. Management determined there was no need to impair the long-lived assets as of June 30, 2013.

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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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