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Property, Plant and Equipment

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT

4. PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment consist of the following:

		December 31,
		2019				2018
Machinery and equipment		$				$	32,702,621
Furniture and office equipment			36,958				368,875
Motor vehicles			-				355,820
Buildings			-				54,689,750
Construction in progress			-				185,646
Subtotal			36,958				88,302,711
Less: accumulated depreciation			(11,902	)			(41,420,859	)
Less: Impairment loss			(7,201	)			(44,545,816	)
Net property and equipment		$	17,855				$2,336,036

Depreciation expense included in general and administration expenses for the years ended December 31, 2019 and 2018 was $6,051 and $2.93 million respectively. Depreciation expense included in cost of sales for the year ended December 31, 2019 and 2018 was $0 and $337,198 and 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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