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5. FINANCE LEASE RIGHT-OF-USE ASSETS | 12 Months Ended
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Dec. 31, 2020
Leases [Abstract] |
5. FINANCE LEASE RIGHT-OF-USE ASSETS | Property, plant and equipment under finance leases, net consist of the following:
|  | December 31, 2020 |  | December 31, 2019
At cost: |  |  |  |  |  |  |  |
Buildings |  | $ | 126,120 |  |  | $ | 117,956 |
Plant and machinery |  |  | 2,307,184 |  |  |  | 2,157,848 |
Total |  |  | 2,433,304 |  |  |  | 2,275,804 |
Less: Accumulated depreciation and amortization |  |  | (2,247,032 | ) |  |  | (2,096,278 | )
Net book value |  | $ | 186,272 |  |  | $ | 179,526 |
The above buildings erected on parcels of land located in Shouguang, PRC, are collectively owned by local townships. The Company has not been able to obtain property ownership certificates over these buildings as the Company could not obtain land use rights certificates on the underlying parcels of land. During the year ended December 31, 2020, depreciation and amortization expense totaled $5,375, respectively, which was recorded in direct labor and factory overheads incurred during plant shutdown. During the year ended December 31, 2019, depreciation and amortization expense totaled $69,344, respectively, which was recorded in direct labor and factory overheads incurred during plant shutdown.

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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