PROPERTY AND EQUIPMENT (Tables)
 9 Months Ended
Sep. 30, 2012
PROPERTY AND EQUIPMENT (Tables)  
Property and equipment consists

Property and equipment consisted of the following: 

 

 

September 30,

 

 

December 31,

 

 

 

2012

 

 

2011

 

Permit of land use

 

$

445,747

 

 

$

442,978

 

Building

 

 

2,412,271

 

 

 

2,397,286

 

Plant, machinery and equipment

 

 

6,285,224

 

 

 

6,184,254

 

Motor vehicle

 

 

146,664

 

 

 

145,300

 

Office equipment

 

 

216,050

 

 

 

204,552

 

Construction in progress

 

 

361,999

 

 

 

351,571

 

Total

 

 

9,867,955

 

 

 

9,725,941

 

Less: accumulated depreciation

 

 

(4,049,480

)

 

 

(3,391,124

)

Property and Equipment, net

 

$

5,818,475

 

 

$

6,334,817

 

 
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 - 35

Plant, machinery and equipment

 

10

Motor vehicle

 

5 - 10

Office equipment

 

3-5