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Prepaid Land Use Rights, Net | 6 Months Ended
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Jun. 30, 2019
Prepaid Land Use Rights, net [Abstract] |
Prepaid Land Use Rights, net |
9. | Prepaid Land Use Rights, net
Prepaid land use rights as of December 31, 2018 and June 30, 2019 consisted of the followings:
|  | December 31, |  |  | June 30, |
|  | 2018 |  |  | 2019 |
Prepaid land use rights |  | $ | 8,167,587 |  |  | $ | 8,182,640 |
Accumulated amortization |  |  | (721,470 | ) |  |  | (804,626 | )
|  | $ | 7,446,117 |  |  | $ | 7,378,014 |
Less: Classified as current assets |  |  | (163,352 | ) |  |  | (163,653 | )
|  | $ | 7,282,765 |  |  | $ | 7,214,361 |
Pursuant to a land use rights acquisition agreement dated August 10, 2014, the Company acquired the rights to use a piece of land with an area of 153,832 m2 in Dalian Economic Zone for 50 years up to August 9, 2064, at a total consideration of $8,018,312 (RMB53.1 million). Other incidental costs incurred totaled $469,777 (RMB3.1 million). Amortization expenses of the prepaid land use rights were $44,068 and $41,183 for the three months ended June 30, 2018 and 2019 and $88,242 and $82,798 for the six months ended June 30, 2018 and 2019, respectively.

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- Definition The entire disclosure for prepaid land use rights, net. + References No definition available. + Details
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