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Intangible assets, net

6 Months Ended

Jun. 30, 2022

Intangible assets, net

Intangible assets, net

Note 9 – Intangible Assets, net

Intangible assets stated at cost less accumulated depreciation amortization consisted of the following:

​

​	​	​	​	​	​	​
​		June 30,			December 31,
​	​	2022		​	2021
Software	​	$	29,345	​	$	30,838
Land use rights*	​		299,224	​		314,456
Patents	​		4,479,000	​		4,707,000
Subtotal	​		4,807,569	​		5,052,294
Less: Accumulated amortization	​		(4,615,716)	​		(4,846,323)
Intangible assets, net	​	$	191,853	​	$	205,971

*There is no private ownership of land in China. Land is usually owned by the local government and the government grants land use rights for specified terms. The Company acquired land use rights from the local government in December 2002 for period of 50 years. As of June 30,2022 and December 31, 2021, land use rights with net book value of $187,514 and $200,204, respectively, were pledged as collateral for bank loans (Note 11).

Amortization expense for intangible assets totaled $4,280 and $235,593 for the six months ended June 30, 2022 and 2021, respectively.

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- Definition

The entire disclosure for all or part of the information related to intangible assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-URI https://asc.fasb.org/subtopic&trid=2144471

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