Plant and equipment, net

12 Months Ended

Dec. 31, 2011

Note 8 - Plant and equipment, net

Plant and equipment consisted of the following as of December 31, 2011 and 2010:

	2011			2010
Buildings and improvements	$	-		$	10,909,066
Machinery and equipment		434,301			8,447,292
Vehicles and office equipment		-			401,213
Construction in progress		-			89,744
Total		434,301			19,847,315

Less: accumulated depreciation		(216,715	)		(2,961,018	)
Plant and equipment, net	$	217,586		$	16,886,297

Depreciation expense for the years ended December 31, 2011, 2010 and 2009 amounted to $1,368,780, $1,506,093 and $605,522, respectively.

For the years ended December 31, 2011, 2010 and 2009, interest expense of approximately $8,326, $254,118 and $175,932, respectively, were capitalized into construction in progress.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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