| Schedule of Inventories |
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 | |
|
| Schedule of Inventory Reserve |
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 | |
|