NOTE 8 – OPERATING LEASE RIGHT-OF USE ASSETS

The Company has the rights to use certain parcels of land located in Shouguang, the PRC, through lease agreements signed with local townships or the government authority. For parcels of land that are collectively owned by local townships, the Company cannot obtain land use rights certificates. The parcels of land of which the Company cannot obtain land use rights certificates covers a total of approximately 34.95 square kilometers with an aggregate operating lease right-of-use assets amount of $7,190,872 as of March 31, 2025.

As of March 31, 2025, the total operating lease ROU assets was $6,050,429.

The total operating lease cost for the three-month period ended March 31, 2025 and 2024 was $217,801 and $217,345.