4. PROPERTY, PLANT AND EQUIPMENT, NET

3 Months Ended

Mar. 31, 2020

Property, Plant and Equipment [Abstract]

4. PROPERTY, PLANT AND EQUIPMENT, NET

Property, plant and equipment, net consist of the following:

	March 31, 2020			December 31, 2019
At cost:
Mineral rights	$	2,722,033		$	2,764,462
Buildings		58,961,513			59,880,567
Plant and machinery		231,067,278			234,669,007
Motor vehicles		6,035			6,129
Furniture, fixtures and office equipment		3,186,073			3,235,736
Construction in process		4,743,600			1,204,742
Total		300,686,532			301,760,643
Less: Accumulated depreciation and amortization		(147,486,310	)		(146,330,705	)
Impairment		(17,167,394	)		(17,434,989	)
Net book value	$	136,032,828		$	137,994,949

The Company has certain buildings and salt pans erected on parcels of land located in Shouguang, PRC, and such parcels of land are collectively owned by local townships or the government authority. The Company has not been able to obtain property ownership certificates over these buildings and salt pans. The aggregate carrying values of these properties situated on parcels of the land are $19,020,945 and $19,894,947 as at March 31, 2020 and December 31, 2019, respectively.

During the three-month period ended March 31, 2020, depreciation and amortization expense totaled $3,453,563, of which $2,578,771, $201,406 and $673,386 were recorded in direct labor and factory overheads incurred during plant shutdown and administrative expenses and cost of net revenue, respectively.

During the three-month period ended March 31, 2019, depreciation and amortization expense totaled $3,311,907, of which $3,066,896, $224,830 and $20,181 were recorded in direct labor and factory overheads incurred during plant shutdown and administrative expenses and cost of net revenue, respectively.