| Inventories |
(4) Inventories
Raw materials inventory includes mainly recycled
paper board and recycled white scrap paper. Finished goods include mainly products of corrugating medium paper, offset printing paper
and tissue paper products. Inventories consisted of the following as of March 31, 2025 and December 31, 2024:
| | |
March 31, | | |
December 31, | |
| | |
2025 | | |
2024 | |
| Raw Materials | |
| | |
| |
| Recycled paper board | |
$ | 3,244,750 | | |
$ | 1,353,543 | |
| Recycled white scrap paper | |
| 10,506 | | |
| 10,491 | |
| Gas | |
| 107,821 | | |
| 16,334 | |
| Base paper and other raw materials | |
| 160,989 | | |
| 132,348 | |
| | |
| 3,524,066 | | |
| 1,512,716 | |
| Semi-finished Goods | |
| 296,213 | | |
| 295,792 | |
| Finished Goods | |
| 1,517,494 | | |
| 1,269,487 | |
| Total inventory, gross | |
| 5,337,773 | | |
| 3,077,995 | |
| Inventory reserve | |
| (695,717 | ) | |
| (726,119 | ) |
| Total inventory, net | |
$ | 4,642,056 | | |
$ | 2,351,876 | |
The movement of inventory reserve was as follows:
| | |
Three Months Ended
March 31, | |
| | |
2025 | | |
2024 | |
| | |
| | |
| |
| Balance at beginning of year | |
$ | 726,119 | | |
$ | 2,959 | |
| Additional charge (written off), net | |
| (31,453 | ) | |
| 730,490 | |
| Foreign currency translation difference | |
| 1,051 | | |
| (7,330 | ) |
| | |
| | | |
| | |
| Balance at the end of year | |
$ | 695,717 | | |
$ | 726,119 | |
|