LAND USE RIGHTS, NET

3 Months Ended

Mar. 31, 2016

Notes to Financial Statements

Note 2 - LAND USE RIGHTS, NET

The following is a summary of land use rights, net:

	March 31, 2016			December 31, 2015
Cost of Land Use Rights	$	19,850,246		$	19,719,353
Accumulated Amortization of Land Use Rights		(4,787,077	)		(4,656,915	)
Land Use Rights, Net	$	15,063,169		$	15,062,438

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

Amortization expenses were $97,861 and $104,300 for the three months ended March 31, 2016 and 2015, respectively.