Property and Equipment

12 Months Ended

Jun. 30, 2013

Note 4– Property and Equipment

Property and equipment at June 30, 2013 and 2012 consists of the following:

	June 30, 2013		June 30, 2012

Buildings	$	15,151,551	$	14,824,203
Machinery and equipment		14,552,237		12,575,932
Office equipment and furniture		101,984		67,684
Vehicles		69,337		67,839
Subtotal		29,875,109		27,535,658
Less: Accumulated depreciation		5,350,377		3,613,310
		24,524,732		23,922,348
Add: Construction in progress		16,078,500		2,536,001

Total	$	40,603,232	$	26,458,349

Depreciation expense for the fiscal years ended June 30, 2013 and 2012 was $1,631,191 and $512,381, respectively.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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