| Related Party Transactions |
Note 5. Related Party Transactions
Accounts payable
As of March 31, 2025 and December 31, 2024, the
Company had payables of $0 and $733,465, respectively, to Xinzhou Gold. These payables bear no interest, are unsecured and are due
on demand.
Short-term debt
As of March 31, 2025 and December 31, 2024,
the Company had short-term debts to related parties of $3,228,965 and $3,306,264, respectively. The details of the loans are described
as below.
At March 31, 2025:
| Schedule of debt |
|
|
|
|
|
|
|
|
|
|
|
|
| Name |
|
Relationship to the Company |
|
Amount |
|
|
Interest Rate |
|
Start Date |
|
Maturity |
| Shor-term debt |
|
|
|
|
|
|
|
|
|
|
|
|
| Wei De Gang |
|
CEO & Legal person of JXZD |
|
$ |
2,353,637 |
|
|
15% |
|
May 31, 2011 |
|
May 31, 2014 |
| Zhao Yan Ling |
|
Former office manager of JXZD,
wife of Zhou Zhi Bin |
|
|
14,469 |
|
|
15% |
|
January 1, 2011 |
|
December 31, 2013 |
| Zhou Zhi Bin |
|
Former CEO & Legal person of
JXZD |
|
|
6,890 |
|
|
15% |
|
January 1, 2011 |
|
December 31, 2013 |
| Tang Yong Hong |
|
Manager of JXZD |
|
|
283,237 |
|
|
15% |
|
February 28, 2015 |
|
February 28, 2016 |
| Victor Sun |
|
Shareholder of ZDRI |
|
|
50,282 |
|
|
-- |
|
January 1, 2011 |
|
On Demand |
| Victor Sun |
|
Shareholder of ZDRI |
|
|
12,000 |
|
|
15% |
|
April 25, 2022 |
|
May 2, 2023 |
| Victor Sun |
|
Shareholder of ZDRI |
|
|
13,000 |
|
|
15% |
|
May 2, 2022 |
|
May 2, 2023 |
| Victor Sun |
|
Shareholder of ZDRI |
|
|
12,000 |
|
|
15% |
|
July 12, 2022 |
|
July 12, 2023 |
| Victor Sun |
|
Shareholder of ZDRI |
|
|
12,500 |
|
|
15% |
|
December 6, 2022 |
|
December 5, 2023 |
| Victor Sun |
|
Shareholder of ZDRI |
|
|
13,500 |
|
|
15% |
|
January 11, 2023 |
|
January 11, 2024 |
| Victor Sun |
|
Shareholder of ZDRI |
|
|
14,500 |
|
|
15% |
|
April 03, 2023 |
|
April 03, 2024 |
| Victor Sun |
|
Shareholder of ZDRI |
|
|
13,850 |
|
|
15% |
|
June 07, 2023 |
|
June 06, 2024 |
| Victor Sun |
|
Shareholder of ZDRI |
|
|
12,000 |
|
|
15% |
|
July 10, 2023 |
|
July 10, 2024 |
| Victor Sun |
|
Shareholder of ZDRI |
|
|
12,500 |
|
|
15% |
|
October 13, 2023 |
|
October 13,2024 |
| Victor Sun |
|
Shareholder of ZDRI |
|
|
15,000 |
|
|
15% |
|
January 18, 2024 |
|
January 18, 2025 |
| Victor Sun |
|
Shareholder of ZDRI |
|
|
15,000 |
|
|
15% |
|
April 11,2024 |
|
April 11, 2025 |
| Victor Sun |
|
Shareholder of ZDRI |
|
|
10,000 |
|
|
15% |
|
May 17, 2024 |
|
June 16, 2025 |
| Victor Sun |
|
Shareholder of ZDRI |
|
|
16,500 |
|
|
15% |
|
June 10, 2024 |
|
June 10, 2025 |
| Victor Sun |
|
Shareholder of ZDRI |
|
|
6,500 |
|
|
15% |
|
July 28, 2024 |
|
July 28, 2025 |
| Victor Sun |
|
Shareholder of ZDRI |
|
|
19,500 |
|
|
15% |
|
July 28, 2024 |
|
July 28, 2025 |
| Victor Sun |
|
Shareholder of ZDRI |
|
|
5,000 |
|
|
15% |
|
September 11, 2024 |
|
September 11, 2025 |
| Victor Sun |
|
Shareholder of ZDRI |
|
|
5,000 |
|
|
15% |
|
September 15, 2024 |
|
September 15, 2025 |
| Victor Sun |
|
Shareholder of ZDRI |
|
|
12,000 |
|
|
15% |
|
October 15, 2024 |
|
October 15, 2025 |
| Victor Sun |
|
Shareholder of ZDRI |
|
|
12,000 |
|
|
15% |
|
January 10,2025 |
|
January 11, 2026 |
| Victor Sun |
|
Shareholder of ZDRI |
|
|
12,500 |
|
|
15% |
|
February 12, 2025 |
|
February 12, 2026 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Current portion of long-term debt |
|
|
|
|
|
|
|
|
|
|
| Zhou Qiang |
|
Office manager of JXZD |
|
|
275,600 |
|
|
15% |
|
December 18, 2012 |
|
December 18,2015 |
| Total |
|
|
|
$ |
3,228,965 |
|
|
|
|
|
|
|
At December 31, 2024:
| Name |
|
Relationship to the Company |
|
Amount |
|
|
Interest Rate |
|
Start Date |
|
Maturity |
| Shor-term debt |
|
|
|
|
|
|
|
|
|
|
|
|
| Wei De Gang |
|
CEO & Legal person of JXZD |
|
$ |
2,435,873 |
|
|
15% |
|
May 31, 2011 |
|
May 31, 2014 |
| Zhao Yan Ling |
|
Former office manager of JXZD,
wife of Zhou Zhi Bin |
|
|
14,385 |
|
|
15% |
|
January 1, 2011 |
|
December 31, 2013 |
| Zhou Zhi Bin |
|
Former CEO & Legal person of
JXZD |
|
|
6,850 |
|
|
15% |
|
January 1, 2011 |
|
December 31, 2013 |
| Tang Yong Hong |
|
Manager of JXZD |
|
|
295,293 |
|
|
15% |
|
February 28,
2015 |
|
February 28, 2016 |
| Yan Chun Yan |
|
Accountant of JXZD |
|
|
9,231 |
|
|
15% |
|
August 31, 2014 |
|
August 31, 2015 |
| Victor Sun |
|
Shareholder of ZDRI |
|
|
50,282 |
|
|
-- |
|
January 1, 2011 |
|
On Demand |
| Victor Sun |
|
Shareholder of ZDRI |
|
|
12,000 |
|
|
15% |
|
April 25, 2022 |
|
May 2, 2023 |
| Victor Sun |
|
Shareholder of ZDRI |
|
|
13,000 |
|
|
15% |
|
May 2, 2022 |
|
May 2, 2023 |
| Victor Sun |
|
Shareholder of ZDRI |
|
|
12,000 |
|
|
15% |
|
July 12, 2022 |
|
July 12, 2023 |
| Victor Sun |
|
Shareholder of ZDRI |
|
|
12,500 |
|
|
15% |
|
December 6, 2022 |
|
December 5, 2023 |
| Victor Sun |
|
Shareholder of ZDRI |
|
|
13,500 |
|
|
15% |
|
January 11, 2023 |
|
January 11, 2024 |
| Victor Sun |
|
Shareholder of ZDRI |
|
|
14,500 |
|
|
15% |
|
April 03, 2023 |
|
April 03, 2024 |
| Victor Sun |
|
Shareholder of ZDRI |
|
|
13,850 |
|
|
15% |
|
June 07, 2023 |
|
June 06, 2024 |
| Victor Sun |
|
Shareholder of ZDRI |
|
|
12,000 |
|
|
15% |
|
July 10, 2023 |
|
July 10, 2024 |
| Victor Sun |
|
Shareholder of ZDRI |
|
|
12,500 |
|
|
15% |
|
October 13, 2023 |
|
October 13,2024 |
| Victor Sun |
|
Shareholder of ZDRI |
|
|
15,000 |
|
|
15% |
|
January 18, 2024 |
|
January 18, 2025 |
| Victor Sun |
|
Shareholder of ZDRI |
|
|
15,000 |
|
|
15% |
|
April 11,2024 |
|
April 11, 2025 |
| Victor Sun |
|
Shareholder of ZDRI |
|
|
10,000 |
|
|
15% |
|
May 17, 2024 |
|
June 16, 2025 |
| Victor Sun |
|
Shareholder of ZDRI |
|
|
16,500 |
|
|
15% |
|
June 10, 2024 |
|
June 10, 2025 |
| Victor Sun |
|
Shareholder of ZDRI |
|
|
6,500 |
|
|
15% |
|
July 28, 2024 |
|
July 28, 2025 |
| Victor Sun |
|
Shareholder of ZDRI |
|
|
19,500 |
|
|
15% |
|
July 28, 2024 |
|
July 28, 2025 |
| Victor Sun |
|
Shareholder of ZDRI |
|
|
5,000 |
|
|
15% |
|
September 11, 2024 |
|
September 11, 2025 |
| Victor Sun |
|
Shareholder of ZDRI |
|
|
5,000 |
|
|
15% |
|
September 15, 2024 |
|
September 15, 2025 |
| Victor Sun |
|
Shareholder of ZDRI |
|
|
12,000 |
|
|
15% |
|
October 15, 2024 |
|
October 15, 2025 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Current portion of long-term debt |
|
|
|
|
|
|
|
|
|
|
| Zhou Qiang |
|
Office manager of JXZD |
|
|
274,000 |
|
|
15% |
|
December 18, 2012 |
|
December 18,2015 |
| Total |
|
|
|
$ |
3,306,264 |
|
|
|
|
|
|
|
As of March 31, 2025 and December 31, 2024,
the Company had accrued interest payable to the related parties of $6,253,842 and $6,105,974, respectively. For the periods ended March
31, 2025 and 2024, the Company recorded interest expense of $124,357 and $124,775, respectively. The Company has received no demands for
repayment of matured debt instruments.
|