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PROPERTY, PLANT AND EQUIPMENT - Note 10

12 Months Ended

Dec. 31, 2012

Notes to Financial Statements

PROPERTY, PLANT AND EQUIPMENT - Note 10

NOTE 10 - PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment as of September 30, 2012 and December 31, 2011 consisted of the following:

		Estimated			September 30,			December 31,
		Useful Lives			2012			2011
					(Unaudited)
Machinery and equipment		4-6 years			$	9,799,115		$	9,678,543
Electronic equipment		4-6 years				2,158,344			2,431,834
Transportation equipment		4-6 years				173,303			182,250
Workshop reconstruction		5 years				252,599			173,928
Leasehold improvements		5 years				2,668,935			2,547,847
Computer equipment		4-6 years				304,082			96,982
Office equipment		4-6 years				751,668			614,710
Total						16,108,046			15,726,094
less: Accumulated depreciation						(10,544,829)			(9,465,419)
Property, plant and equipment, net					$	5,563,217		$	6,260,675

Depreciation for the nine months ended September, 2012 and 2011 was $1,051,301 and $1,130,038 respectively. Depreciation for the three months ended September, 2012 and 2011 was $254,209 and $757,123, respectively.

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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