INTANGIBLE ASSETS, NET

9 Months Ended

Dec. 31, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

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 December		As of
	Period	31, 2014		March 31, 2014
Land use right	50 years		1,658,441	$	1,649,517
Less: Accumulated amortization			(274,367)		(248,148)
Land use right, net			1,384,074		1,401,369
Patent 1	16.5 years		7,517,568		7,477,122
Patent (non-US No. ZL200510045001.9)	13.75 years		10,132,375		10,077,860
Patent (non-US No. ZL200710013301.8)	14.95 years		1,634,254		1,625,461
Less: Accumulated amortization			(4,880,103)		(3,897,780)
Patents, net		$	14,404,094	$	15,282,662

The amortization expense of land use right for the three months ended December 31, 2014 and 2013 was $9,741 and $10,326, respectively.  The amortization expense of patents for the three months ended December 31, 2014 and 2013 was $345,240 and $353,717, respectively.

The amortization expense of land use right for the nine months ended December 31, 2014 and 2013 was $26,219 and $31,104, respectively.  The amortization expense of patents for the nine months ended December 31, 2014 and 2013 was $982,323 and $871,285, respectively.