Note 7 - Intangible Assets

9 Months Ended

Jun. 30, 2013

Notes

Note 7 - Intangible Assets

Note 7 – Intangible Assets

All land in the People’s Republic of China is government owned and cannot be sold to any individual or company. However, the government grants the user a “land use right” (the Right) to use the land. The Company has the right to use the land for 50 years and amortizes the Right on a straight-line basis over the period of 50 years. As of June 30, 2013 and September 30, 2012, intangible assets consisted of the following:

	June 30, 2013	September 30, 2012
Land use rights	$1,197,755	$1,176,249
Less: accumulated amortization	180,957	157,993
	$1,016,798	$1,018,256

The amortization expense was $6,661 and $6,525 for the three months ended June 30, 2013 and 2012, respectively, and $19,810 and $19,576 for the nine months ended June 30, 2013 and 2012, respectively.