LAND USE RIGHTS, NET

9 Months Ended

Sep. 30, 2016

Notes to Financial Statements

Note 2 - LAND USE RIGHTS, NET

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

	September 30, 2016			December 31, 2015
Cost of Land Use Rights	$	19,190,992		$	19,719,353
Accumulated Amortization of Land Use Rights		(4,820,002	)		(4,656,915	)
Land Use Rights, Net	$	14,370,990		$	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 $291,811 and $311,639 for the nine months ended September 30, 2016 and 2015, respectively.