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PROPERTY AND EQUIPMENT (TABLES)
3 Months Ended
Mar. 31, 2016
PROPERTY AND EQUIPMENT (Tables)  
Property and equipment consists

Property and equipment consisted of the following:

 

  

 

 

March 31,

 

 

December 31,

 

 

 

2016

 

 

2015

 

Permit of land use

 

$

436,836

 

 

$

433,956

 

Building

 

 

10,627,311

 

 

 

10,557,234

 

Plant, machinery and equipment

 

 

27,521,628

 

 

 

27,325,440

 

Motor vehicle

 

 

268,279

 

 

 

242,860

 

Office equipment

 

 

259,575

 

 

 

256,679

 

Total

 

 

39,113,629

 

 

 

38,816,169

 

Less: accumulated depreciation

 

 

(10,286,937

)

 

 

(9,422,912

)

Property and Equipment, net

 

$

28,826,692

 

 

$

29,393,257

 

Useful lives of the assets

Depreciation is computed on a straight-line basis over the estimated useful lives of the assets as follows:

 

Asset

 

 Life - years

Permit of land use

 

40 - 70

Building

 

20 - 49

Plant, machinery and equipment

 

5 - 10

Motor vehicle

 

5 - 10

Office equipment

 

3-5