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Property, Plant and Equipment | 3 Months Ended
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Mar. 31, 2013
Property, Plant and Equipment [Abstract] |
Property, plant and equipment | (7) Property, plant and equipment As of March 31, 2013 and December 31, 2012, property, plant and equipment consisted of the following:
|  | March 31, 2013 |  |  | December 31, 2012 |
Property, Plant, and Equipment: |  |  |  |  |  |
Land use rights |  | $ | 9,961,400 |  |  | $ | 9,895,081 |
Building and improvements |  |  | 31,837,778 |  |  |  | 31,625,816 |
Machinery and equipment |  |  | 112,609,578 |  |  |  | 111,857,002 |
Vehicles |  |  | 441,949 |  |  |  | 439,007 |
Construction in progress |  |  | 2,645,773 |  |  |  | 1,315,664 |
|  |  | 157,496,478 |  |  |  | 155,132,570 |
Less accumulated depreciation and amortization |  |  | (34,896,581 | ) |  |  | (32,741,114 | )
Property, Plant and Equipment, net |  | $ | 122,599,897 |  |  | $ | 122,391,456 |
Land use rights represent two parcels of state-owned land located in Xushui County of Hebei Province in China, with lease terms of 50 years expiring in 2053 and 2061, respectively. Construction in progress mainly represents payments for the new 15,000 tonnes per year tissue paper manufacturing equipment PM8. As of March 31, 2013 and December 31, 2012, property, plant and equipment with net values of $9,025,899 and $9,316,645 have been pledged for the long-term loan from credit union of Orient Paper HB, respectively. In addition, land use right with net values of $7,431,490 and $7,419,614 were pledged for an independent third party which cross-guarantees the Company’s credit facility from the Bank of Hebei as of March 31, 2013 and December 31, 2012, respectively. The amount of that long-term loan of the third party was $1,515,974 and will expire on February 26, 2014. Depreciation and amortization of property, plant and equipment was $1,932,853 and $1,959,302 during the quarter ended March 31, 2013 and 2012, respectively.

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- Definition The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.13-14) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 12 -Paragraph 5 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2921-110230 + Details
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