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PROPERTY AND EQUIPMENT (Tables)
9 Months Ended
Sep. 30, 2013
PROPERTY AND EQUIPMENT (Tables)  
Property and equipment consists

 

 

 

September 30,

 

 

December 31,

 

 

 

2013

 

 

2012

 

Permit of land use

 

$

459,011

 

 

$

447,013

 

Building

 

 

2,484,053

 

 

 

2,419,125

 

Plant, machinery and equipment

 

 

6,636,747

 

 

 

6,381,209

 

Motor vehicle

 

 

151,028

 

 

 

147,080

 

Office equipment

 

 

233,649

 

 

 

222,273

 

Construction in progress

 

 

15,666,827

 

 

 

3,688,567

 

Total

 

 

25,631,315

 

 

 

13,305,267

 

Less: accumulated depreciation

 

 

(5,036,637

)

 

 

(4,273,373

)

Property and Equipment, net

 

$

20,594,678

 

 

$

9,031,894

 

Useful lives of the assets

Asset

 

 Life - years

Permit of land use

 

40 - 70

Building

 

20 - 35

Plant, machinery and equipment

 

10

Motor vehicle

 

5 - 10

Office equipment

 

3-5