INTANGIBLE ASSETS, NET

12 Months Ended

Mar. 31, 2012

INTANGIBLE ASSETS, NET

NOTE 8 - INTANGIBLE ASSETS, NET

The intangible assets of the Company consist of land use right and purchased patents.

Net land use right and purchased patents were as follows:

	Amortization	As of
	Period	March 31, 2012			March 31, 2011
Land use right	50 years		1,612,252		$	1,547,801
Less: Accumulated amortization			(178,052	)		(139,821	)
Land use right, net			1,434,200			1,407,980
Patent 1	16.5 years		7,308,199			7,016,045
Patent (non-US No. ZL200510045001.9)	13.75 years		9,850,182			-
Patent (non-US No. ZL200710013301.8)	14.95 years		1,588,739			-
Patent (U.S. No. 6,475,531 B1)	119 months		-			32,748,665
Less: Accumulated amortization			(1,317,810	)		(612,674	))
Patents, net		$	17,429,310		$	39,152,036

The amortization expense of land use right for the years ended March 31, 2012 and 2011 was $38,231 and $35,764, respectively.

The amortization expense of patent for the years ended March 31, 2012 and 2011 was $4,539,304 and $584,596, respectively.

The U.S. Patent was written off in the year ended March 31, 2012 due to impairment. The total impairment recognized was $31,680,487. Refer to Note 1 above.