Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

PROPERTY, PLANT AND EQUIPMENT

v3.8.0.1
PROPERTY, PLANT AND EQUIPMENT
12 Months Ended
Sep. 30, 2017
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Disclosure [Text Block]
NOTE 6 – PROPERTY, PLANT AND EQUIPMENT
 
Property, plant and equipment consisted of the following as of September 30, 2017 and 2016:
 
 
 
As of September 30,
 
 
 
2017
 
2016
 
Buildings
 
$
5,306,286
 
$
5,293,106
 
Machinery
 
 
3,987,090
 
 
3,852,205
 
Furniture, fixtures and equipment
 
 
486,588
 
 
468,880
 
Motor vehicles
 
 
156,360
 
 
130,622
 
Total property plant and equipment, at cost
 
 
9,936,324
 
 
9,744,813
 
Less: accumulated depreciation
 
 
(4,290,600)
 
 
(3,845,215)
 
 
 
 
5,645,724
 
 
5,899,598
 
Construction in progress (“CIP”)
 
 
-
 
 
8,387
 
Property, plant and equipment, net
 
$
5,645,724
 
$
5,907,985
 
 
Depreciation expense was $425,696 and $442,793 for the years ended September 30, 2017 and 2016, respectively.
 
As of September 30, 2017 and 2016, the Company pledged buildings and machinery to secure banking facilities granted to the Company. The carrying values of the pledged buildings to secure bank borrowings by the Company are shown in Note 11.