NOTE 8 – LAND USE RIGHTS

Land use rights consist of the following:


	December 31,
	2020		2019

Cost of land use rights	$	5,814,274	$	4,421,007
Less: Accumulated amortization		(1,312,641)		(1,132,048)
Land use rights, net	$	4,501,633	$	3,288,959

Unrealized foreign exchange translation gain/(loss) for the year ended December 31, 2020, 2019 and 2018 was $609,284, ($43,921) and ($181,553) respectively, which has been included in other comprehensive income/(loss). Amortization expense for the years ended December 31, 2020, 2019 and 2018 was $94,691, $89,485 and $93,094, respectively.

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


2021	$	116,285
2022		116,285
2023		116,285
2024		116,285
2025		116,285
Thereafter		3,920,208
Total	$	4,501,633