INTANGIBLE ASSET

9 Months Ended

Sep. 30, 2014

Notes to Financial Statements

Note 6 - INTANGIBLE ASSET

The following is a summary of intangible asset:

	September 30, 2014		December 31, 2013
Cost of Land use right	$	20,800,274	$	20,993,030
Accumulated Amortization of Land use right		(4,392,178)		(4,117,985)
Intangible Asset, net	$	16,408,096	$	16,875,045

The difference for the balance of cost was mainly due to the fluctuation of exchange rate of USD to RMB.

Amortization expenses were approximately $312,395 and $308,825 for the nine months ended September 30, 2014, and 2013, respectively.