| Schedule of Short-Term Bank Loans |
Short-term
bank loans
| | |
September 30, | | |
December 31, | |
| | |
2024 | | |
2023 | |
| Bank of Cangzhou 1 | |
$ | 142,706 | | |
$ | - | |
| Bank of Cangzhou 2 | |
| 285,413 | | |
| - | |
| Industrial and Commercial Bank of China (“ICBC”) Loan 1 | |
| - | | |
| 2,824 | |
| ICBC Loan 2 | |
| - | | |
| 70,594 | |
| ICBC Loan 3 | |
| - | | |
| 350,149 | |
| ICBC Loan 4 | |
| 2,854 | | |
| - | |
| ICBC Loan 5 | |
| 142,706 | | |
| - | |
| ICBC Loan 6 | |
| 142,706 | | |
| - | |
| ICBC Loan 7 | |
| 139,852 | | |
| - | |
| | |
| | | |
| | |
| Total short-term bank loans | |
$ | 856,238 | | |
$ | 423,567 | |
|
| Schedule of Long-Term Loans |
As
of September 30, 2024 and December 31, 2023, long-term loans were $8,931,986 and $11,378,429, respectively.
| | |
September 30, | | |
December 31, | |
| | |
2024 | | |
2023 | |
| Rural Credit Union of Xushui District Loan 1 | |
$ | 3,566,229 | | |
$ | 3,528,315 | |
| Rural Credit Union of Xushui District Loan 2 | |
| 2,283,301 | | |
| 2,259,026 | |
| Rural Credit Union of Xushui District Loan 3 | |
| 1,855,182 | | |
| 1,835,458 | |
| Rural Credit Union of Xushui District Loan 4 | |
| - | | |
| 2,541,404 | |
| Rural Credit Union of Xushui District Loan 5 | |
| 1,227,274 | | |
| 1,214,226 | |
| Total | |
| 8,931,986 | | |
| 11,378,429 | |
| Less: Current portion of long-term loans | |
| (4,365,385 | ) | |
| (6,874,497 | ) |
| Long-term loans | |
$ | 4,566,601 | | |
$ | 4,503,932 | |
|
| Schedule of Long-Term Debt Repayments |
As
of September 30, 2024, the Company’s long-term debt repayments for the next coming years were as follows:
| Fiscal year | |
Amount | |
| Remainder of 2024 | |
$ | 4,365,385 | |
| 2025 | |
| 4,281,188 | |
| 2026 & after | |
| 285,413 | |
| Total | |
| 8,931,986 | |
|