NOTE 8 – LAND USE RIGHTS

Land use rights consist of the following:


	December 31,
	2019		2018

Cost of land use rights	$	4,421,007	$	4,479,896
Less: Accumulated amortization		(1,132,048)		(1,057,531)
Land use rights, net	$	3,288,959	$	3,422,365

Unrealized foreign exchange translation gain/(loss) for the year ended December 31, 2019, 2018 and 2017 was ($43,921), ($181,553) and $217,105, respectively, which has been included in other comprehensive income/(loss). Amortization expense for the years ended December 31, 2019, 2018 and 2017 was $89,485, $93,094 and $91,277, respectively.

Amortization expense for the next five years and thereafter is as follows:


2020	$	88,418
2021		88,418
2022		88,418
2023		88,418
2024		88,418
Thereafter		2,846,869
Total	$	3,288,959