XML 38 R16.htm IDEA: XBRL DOCUMENT
v3.19.2

Intangible Assets, Net | 12 Months Ended
--- | ---
Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract] |
INTANGIBLE ASSETS, NET | NOTE 10 – INTANGIBLE ASSETS, NET Intangible assets, net consisted of the following:
|  | December 31, 2018 |  |  | December 31, 2017 |
Land use rights |  | $ | 7,705,939 |  |  | $ | 8,145,824 |
Software |  |  | 31,730 |  |  |  | 33,541 |
Total |  |  | 7,737,669 |  |  |  | 8,179,365 |
Less: accumulated amortization |  |  | (896,156 | ) |  |  | (777,815 | )
Intangible assets, net |  | $ | 6,841,513 |  |  | $ | 7,401,550 |
As of December 31, 2018, land use rights of 26,695 square meters with a carrying value of approximately $0.4 million was pledged to the bank as collateral for the Company’s short-term bank loan (see Note 11). As of December 31, 2018 and 2017, land use rights of 306,000 square meters with a carrying value of approximately $4.9 million and $5.3 million, respectively, was pledged to the bank as collateral for the Company’s long-term bank loan (see Note 12). Amortization expense was $166,850, $163,154 and $175,784 for the years ended December 31, 2018, 2017 and 2016, respectively. Estimated future amortization expense is as follows:
Twelve months ending December 31, |  | Amortization expense |
2019 |  |  | 160,222 |
2020 |  |  | 160,205 |
2021 |  |  | 160,205 |
2022 |  |  | 160,205 |
2023 and Thereafter |  |  | 6,200,676 |
|  | $ | 6,841,513 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
Name: | us-gaap_IntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration