Schedule of Aggregate Carrying Value of Dongfang Paper’s Assets and Liabilities |
The
Company and its consolidated subsidiaries are not required to provide financial support to the VIE, and no creditor (or beneficial interest
holders) of the VIE have recourse to the assets of Company unless the Company separately agrees to be subject to such claims. There are
no terms in any agreements or arrangements, implicit or explicit, which require the Company or its subsidiaries to provide financial
support to the VIE. However, if the VIE does require financial support, the Company or its subsidiaries may, at its option and subject
to statutory limits and restrictions, provide financial support to the VIE.
| |
September 30, | | |
December 31, | |
| |
2024 | | |
2023 | |
ASSETS | |
| | |
| |
| |
| | |
| |
Current Assets | |
| | |
| |
Cash and bank balances | |
$ | 4,006,365 | | |
$ | 2,807,608 | |
Restricted cash | |
| 478,066 | | |
| 472,983 | |
Accounts receivable | |
| 1,727,370 | | |
| 575,526 | |
Inventories | |
| 5,732,539 | | |
| 3,555,235 | |
Prepayments and other current assets | |
| 18,476,507 | | |
| 18,617,351 | |
Due from related parties | |
| 292,280 | | |
| 289,173 | |
| |
| | | |
| | |
Total current assets | |
| 30,713,127 | | |
| 26,317,876 | |
| |
| | | |
| | |
Operating lease right-of-use assets, net | |
| 459,612 | | |
| 528,648 | |
Property, plant, and equipment, net | |
| 149,936,157 | | |
| 158,027,099 | |
| |
| | | |
| | |
Total Assets | |
$ | 181,108,896 | | |
$ | 184,873,623 | |
| |
| | | |
| | |
LIABILITIES | |
| | | |
| | |
| |
| | | |
| | |
Current Liabilities | |
| | | |
| | |
Short-term bank loans | |
$ | 428,119 | | |
$ | - | |
Current portion of long-term loans | |
| 2,510,203 | | |
| 2,780,014 | |
Lease liability | |
| 249,976 | | |
| 100,484 | |
Accounts payable | |
| - | | |
| 4,991 | |
Advance from customers | |
| 37,101 | | |
| 136,167 | |
Accrued payroll and employee benefits | |
| 335,074 | | |
| 231,568 | |
Other payables and accrued liabilities | |
| 12,508,059 | | |
| 11,843,973 | |
Income taxes payable | |
| 349,828 | | |
| - | |
| |
| | | |
| | |
Total current liabilities | |
| 16,418,360 | | |
| 15,097,197 | |
| |
| | | |
| | |
Long-term loans | |
| 2,283,301 | | |
| 4,503,932 | |
Lease liability - non-current | |
| 372,966 | | |
| 483,866 | |
| |
| | | |
| | |
Total liabilities | |
$ | 19,074,627 | | |
$ | 20,084,995 | |
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