Property and Equipment

3 Months Ended

Mar. 31, 2016

Property and Equipment [Abstract]

PROPERTY AND EQUIPMENT

NOTE 5 – PROPERTY AND EQUIPMENT

At March 31, 2016 and December 31, 2015, property and equipment consisted of the following:

	Useful life	March 31, 2016			December 31, 2015
Manufacturing equipment	5 - 10 years	$	66,831,485		$	66,381,394
Building and building improvements	5 - 20 years		24,832,012			24,668,268
Vehicles	5 years		195,843			194,552
Office equipment and furniture	5 years		166,501			165,403
			92,025,841			91,409,617
Less: accumulated depreciation			(41,617,392	)		(39,655,653	)
		$	50,408,449		$	51,753,964

For the three months ended March 31, 2016 and 2015, depreciation expense amounted to $1,674,728 and $2,074,507, respectively, of which $1,513,990 and $1,729,811, respectively, was included in cost of revenues, and the remainder was included in operating expenses.