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EXCEL - IDEA: XBRL DOCUMENT - China YCT International Group, Inc.Financial_Report.xls
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EX-32 - EXHIBIT 32 - China YCT International Group, Inc.v315376_ex32.htm
EX-31.1 - EXHIBIT 31.1 - China YCT International Group, Inc.v315376_ex31-1.htm
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10-Q/A - FORM 10-Q/A - China YCT International Group, Inc.v315376_10qa.htm
v2.4.0.6
INTANGIBLE ASSETS, NET
9 Months Ended
Dec. 31, 2011
INTANGIBLE ASSETS, NET

NOTE 8 - INTANGIBLE ASSETS, NET

 

The intangible assets of the Company consist of land use right and purchased patents.

 

Net land use right and purchased patent were as follows:

 

 

    Amortization     As of,  
    Period     Dec 31, 2011     Mar 31, 2011  
Land use right     50 years     $ 1,547,801     $ 1,547,801  
Less: Accumulated amortization             (169,677 )     (139,821 )
Land use right, net             1,378,124       1,407,980  
Patent 1     16.5 years       7,016,045       7,016,045  
Less: Accumulated amortization for Patent 1             (824,076 )     (337,476 )
Patent 1, net             6,191,969       6,678,569  
Patents (non-US No. ZL200510045001.9)     13.75 years       9,839,864       -  
Less: Accumulated amortization for Patent (non-US No. ZL200510045001.9)             (178,906 )     -  
Patent (non-US No. ZL200510045001.9), net             9,660,958       -  
Patents (non-US No. ZL200710013301.8)     14.95 years       1,587,075       -  
Less: Accumulated amortization for Patent (non-US No. ZL200710013301.8)             (26,600 )     -  
Patent (non-US No. ZL200710013301.8), net             1,560,475       -  
Patent (U.S. No. 6,475,531 B1)     9.9 years       35,514,657       32,748,665  
Less: Accumulated amortization for Patent (U.S. No. 6,475,531 B1)             (2,898,608 )     (275,199 )
Patent (U.S. No. 6,475,531 B1), net             32,616,049       32,473,466  
Intangible assets, net           $ 51,407,575     $ 40,560,015  

 

On October 1, 2011, two patents were transferred to the Company. The book value for patent – “Treatment to ischemic encephalopathy and its preparation method” (ZL 200510045001.9) is amounted to $9,839,864; and the book value for patent – “Chinese herbal medicine compound to treat renal insufficiency and its preparation” (ZL 200710013301.8) is amounted to $1,587,075.

 

The amortization expense of land use right for the three months ended December 31, 2011 and 2010 was $9,439 and $18,433, respectively. The amortization expense of patents for the three months ended December 31, 2011 and 2010 was $1,419,727 and $176,513, respectively.

 

The amortization expense of land use right for the nine months ended December 31, 2011 and 2010 was $29,856 and $26,573, respectively. The amortization expense of patents for the nine months ended December 31, 2011 and 2010 was $3,315,517 and $261,331, respectively.