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4. PROPERTY, PLANT AND EQUIPMENT, NET | 9 Months Ended
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Sep. 30, 2019
Property, Plant and Equipment [Abstract] |
4. PROPERTY, PLANT AND EQUIPMENT, NET | Property, plant and equipment, net consist of the following:
|  | September 30, 2019 |  | December 31, 2018
At cost: |  |  |  |  |  |  |  |
Mineral rights |  | $ | 2,726,661 |  |  | $ | 2,809,977 |
Buildings |  |  | 59,061,773 |  |  |  | 60,866,462 |
Plant and machinery |  |  | 231,460,194 |  |  |  | 161,178,816 |
Motor vehicles |  |  | 6,045 |  |  |  | 6,230 |
Furniture, fixtures and office equipment |  |  | 3,191,491 |  |  |  | 3,289,010 |
Construction in process |  |  | 1,188,268 |  |  |  | 6,535,808 |
Total |  |  | 297,634,432 |  |  |  | 234,686,303 |
Less: Accumulated depreciation and amortization |  |  | (140,889,652) |  |  |  | (134,681,628 | )
Impairment |  |  | (17,196,587) |  |  |  | (17,722,045 | )
Net book value |  | $ | 139,548,193 |  |  | $ | 82,282,630 |
The Company has certain buildings and salt pans erected on parcels of land located in Shouguang, PRC, and such parcels of land are collectively owned by local townships or the government authority. The Company has not been able to obtain property ownership certificates over these buildings and salt pans. The aggregate carrying values of these properties situated on parcels of the land are $19,881,983 and $20,409,998 as at September 30, 2019 and December 31, 2018, respectively. During the three-month period ended September 30, 2019, depreciation and amortization expense totaled $3,632,805 of which $2,449,352, $201,182 and $982,271 were recorded in direct labor and factory overheads incurred during plant shutdown, administrative expenses and cost of net revenue. During the nine-month period ended September 30, 2019,depreciation and amortization expense totaled $10,530,985 of which $7,535,376, $648,456 and $2,347,153 were recorded in direct labor and factory overheads incurred during plant shutdown, administrative expenses and cost of net revenue. During the three-month period ended September 30, 2018, depreciation and amortization expense totaled $4,601,338, of which $4,353,824 and $247,514 were recorded in direct labor and factory overheads incurred during plant shutdown and administrative expenses, respectively. During the nine-month period ended September 30, 2018, depreciation and amortization expense totaled $13,974,456, of which $13,210,971 and $763,485 were recorded in direct labor and factory overheads incurred during plant shutdown and administrative expenses, respectively.

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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 + Details
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