| Schedule of Short-Term Bank Loans |
Short-term bank loans
| | |
March 31, | | |
December 31, | |
| | |
2025 | | |
2024 | |
| Rural Credit Union of Xushui District Loan 1 | |
$ | 1,811,039 | | |
$ | 1,808,469 | |
| Rural Credit Union of Xushui District Loan 2 | |
| 2,228,971 | | |
| 2,225,808 | |
| Bank of Cangzhou Loan 1 | |
| 306,484 | | |
| - | |
| Bank of Cangzhou Loan 2 | |
| 69,655 | | |
| - | |
| Bank of Cangzhou Loan 3 | |
| 208,966 | | |
| - | |
| Industrial and Commercial Bank of China (“ICBC”) Loan 1 | |
| 2,786 | | |
| 2,782 | |
| ICBC Loan 2 | |
| 139,311 | | |
| 139,113 | |
| ICBC Loan 3 | |
| 139,311 | | |
| 139,113 | |
| ICBC Loan 4 | |
| 136,524 | | |
| 136,331 | |
| | |
| | | |
| | |
| Total short-term bank loans | |
$ | 5,043,047 | | |
$ | 4,451,616 | |
|
| Schedule of Long-Term Loans |
As of March 31, 2025 and December 31, 2024, long-term
loans were $4,679,447 and $4,672,806, respectively.
| | |
March 31, | | |
December 31, | |
| | |
2025 | | |
2024 | |
| Rural Credit Union of Xushui District Loan 1 | |
$ | 3,481,375 | | |
$ | 3,476,434 | |
| Rural Credit Union of Xushui District Loan 2 | |
| 1,198,072 | | |
| 1,196,372 | |
| Total | |
| 4,679,447 | | |
| 4,672,806 | |
| Less: Current portion of long-term loans | |
| (3,564,961 | ) | |
| (3,559,902 | ) |
| Long-term loans | |
$ | 1,114,486 | | |
$ | 1,112,904 | |
|
| Schedule of Long-Term Debt Repayments |
As of March 31, 2025, the Company’s long-term
debt repayments for the next coming years were as follows:
| | |
Amount | |
| Fiscal year | |
| |
| Remainder of 2025 | |
$ | 3,564,961 | |
| 2026 & after | |
| 1,114,486 | |
| Total | |
| 4,679,447 | |
|