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Property and Equipment

9 Months Ended

Sep. 30, 2019

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

6. PROPERTY AND EQUIPMENT

Property and equipment as of September 30, 2019 and December 31, 2018 are summarized as follows:

		September 30, 2019				December 31, 2018
			(UNAUDITED)
Land		$	357,927			$	363,416
Buildings and leasehold improvements			2,220,943				290,403
Machinery and equipment			962,296				87,356
Office equipment			193,220				21,292
Subtotal			3,734,386				762,467
Less: accumulated depreciation			(3,219,937	)			(252,401	)
Property and equipment, net		$	514,449			$	510,066

Depreciation expenses were $14,262 and $10,569 for the three months ended September 30, 2019 and 2018, respectively. Depreciation expenses were $43,893 and $33,240 for the nine months ended September 30, 2019 and 2018, respectively.

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- References

No definition available.

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-URI http://asc.fasb.org/topic&trid=2155823

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