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Intangible Assets, Net
 12 Months Ended
Dec. 31, 2021
Intangible Assets, Net [Abstract]  
INTANGIBLE ASSETS, NET

NOTE 13 – INTANGIBLE ASSETS, NET

 

Intangible assets, net consisted of the following: 

 

  

December 31,

2021

  

December 31,

2020

 
Land use rights  $1,730,978    1,691,262 
Software   29,472    28,796 
Others   2,472,376    
-
 
Patent   124,277    
-　
 
Total   4,357,104    1,720,058 
Less: accumulated amortization   (246,075)   (188,546)
Intangible assets, net  $4,111,029    1,531,512 

 

As of December 31, 2021 and 2020, land use rights of 74,278 and 74,278 square meters with a carrying value of approximately $1.5 million and $1.5 million, respectively, was pledged to the bank as collateral for the Company’s long-term bank loan (see Note 16).

 

Amortization expense was $37,112, $34,671 and $29,695 for the years ended December 31, 2021, 2020 and 2019, respectively.

 

Estimated future amortization expense is as follows: 

 

Twelve months ending December 31,  Amortization
expense		 
2022  $297,232 
2023   297,232 
2024   297,232 
2025   297,232 
2026   297,232 
2027 and Thereafter   2,624,866 
   $4,111,029