Land Use Rights

12 Months Ended

Dec. 31, 2013

NOTE 5 – LAND USE RIGHTS

There is no private ownership of land in China. Land is owned by the government and the government grants land use rights for specified terms. The Company’s land use rights have terms of 45 and 50 years and expire on January 1, 2053 and October 30, 2053. The Company amortizes the land use rights over the term of the respective land use right. For the years ended December 31, 2013 and 2012, amortization of land use rights amounted to $95,491 and $93,537, respectively. At December 31, 2013 and 2012, land use rights consisted of the following:

	Useful Life	December 31, 2013			December 31, 2012
Land use rights	45 - 50 years	$	4,418,826		$	4,274,916
Less: accumulated amortization			(632,775	)		(518,574	)
		$	3,786,051		$	3,756,342

Amortization of land use rights attributable to future periods is as follows:

Years ending December 31:	Amount
2014	$	96,743
2015		96,743
2016		96,743
2017		96,743
2018		96,743
Thereafter		3,302,336
	$	3,786,051