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PREPAID LAND LEASES | 6 Months Ended
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Jun. 30, 2012
PREPAID LAND LEASES | NOTE 4 – PREPAID LAND LEASES The Company prepaid for land leases with lease terms for periods ranging from one to fifty years to use the land on which the office premises, production facilities and warehouses of the Company are situated. The prepaid land lease is amortized on a straight line basis. During the three-month periods ended June 30, 2012 and 2011, amortization of prepaid land lease totaled $50,180 and $72,989, respectively, which were recorded as cost of net revenue. During the six-month periods ended June 30, 2012 and 2011, amortization of prepaid land lease totaled $105,051 and $102,831, respectively, which were recorded as cost of net revenue. The Company has the rights to use certain parcels of land located in Shouguang, the PRC, through lease agreements signed with local townships. Such parcels of land are collectively owned by local townships and accordingly, the Company could not obtain land use rights certificates on these parcels of land. The parcels of land of which the Company could not obtain land use rights certificates covers a total of approximately 101.54 square kilometers of aggregate carrying value of $1,081,310 and approximately 101.52 square kilometers of aggregate carrying value of $766,748 as at June 30, 2012 and December 31, 2011, respectively.

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- Definition Disclosure of Deferred Costs, Capitalized, Prepaid, and Other Assets [Text Block] + References No definition available. + Details
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