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3. Property, Plant and Equipment

12 Months Ended

Dec. 31, 2013

Property, Plant and Equipment [Abstract]

Property, plant and equipment consist of the following:

	As of December 31,
	2013			2012
Land	$	2,764,619		$	2,837,780
Plant and buildings		82,355,467			83,004,928
Furniture and fixtures		557,636			376,333
Machinery and equipment		2,076,162			2,615,140
Construction in progress		539,234			82,627
Total gross property, plant & equipment		88,293,118			88,916,808
Less accumulated depreciation		(9,364,989	)		(5,023,336	)
Total net property, plant & equipment	$	78,928,129		$	83,893,472

The Company recorded depreciation expense for the years ended December 31, 2013 and 2012 of $4,636,161 and $3,041,783, 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. Based on the evaluation, management determined no assets required impairment as of December 31, 2013 and 2012.

- 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.

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