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Intangible assets, net
 12 Months Ended
Dec. 31, 2011
Intangible assets, net

Note 9 - Intangible assets, net

 

Net intangible assets consisted of the following at December 31, 2011 and 2010:

 

    2011     2010  
Land use rights   $ -     $ 8,700,613  
Software     -       3,793  
Total     -       8,704,406  
Less: accumulated amortization     -       (115,191 )
Intangible assets, net   $ -     $ 8,589,215  

 

Amortization expense for the years ended December 31, 2011, 2010 and 2009 amounted to $91,382, $105,279 and $12,715, respectively.

 

As of December 31, 2010, intangible assets included assets held by Honesty Group. After the Sale of Honesty Group, intangible assets went with the Honesty Group (see Note 21).