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, 2015 and 2014, amortization of land use rights amounted to $95,076 and $96,226, respectively. At December 31, 2015 and 2014, land use rights consisted of the following:

	Useful life	December 31, 2015			December 31, 2014
Land use rights	45 - 50 years	$	4,159,920		$	4,398,598
Less: accumulated amortization			(777,849	)		(726,178	)
		$	3,382,071		$	3,672,420

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

Year ending December 31:	Amount
2016	$	91,075
2017		91,075
2018		91,075
2019		91,075
2020		91,075
Thereafter		2,926,696
	$	3,382,071