Intangible Assets, Net

12 Months Ended

Dec. 31, 2016

Intangible Assets, Net [Abstract]

INTANGIBLE ASSETS, NET

NOTE 6 – INTANGIBLE ASSETS, NET

Intangible assets, net consisted of the following:

	As of			As of
	December 31, 2016			December 31, 2015
Land use rights	$	9,834,218		$	2,027,918
Trademark		6,652			7,117
Patents		5,418			5,065
Total		9,846,288			2,040,100
Less: accumulated amortization		(398,802	)		(261,836	)
Intangible assets, net	$	9,447,486		$	1,778,264

Amortization expense was $161,019 and $39,361 for the years ended December 31, 2016 and 2015, respectively.

Estimated future amortization expense for intangible assets is as follows:

Periods ending December 31,	Amortization expense
2017	$	197,843
2018		197,735
2019		197,046
2020		197,046
2021		196,848
Thereafter		8,460,968
	$	9,447,486

During the year ended December 31, 2016, the Company paid RMB 55,131,750 (approximately $8.3 million) for a land use right in order to construct a new plant in Wenling Taizhou to increase its production capacity.