| Schedule of Bank and Other Borrowings |
As of March 31, 2025 and December 31, 2024, the bank
and other borrowings consisted of the following:
Schedule of Bank
and Other Borrowings
| | |
| | |
Principal | | |
| | |
Fixed Interest | | |
March 31, | | |
December 31, | |
| Initiation date | |
Loan No. | | |
Amount | | |
Maturity date | | |
Rate | | |
2025 | | |
2024 | |
| May 13, 2020 | |
| #1 | | |
$ | 500,000 | | |
| April 13, 2050 | | |
| 3.75 | % | |
$ | - | | |
$ | - | |
| May 17, 2022 | |
| #2 | | |
$ | 25,050 | | |
| August 1,2025 | | |
| 5.50 | % | |
| - | | |
| 5,022 | |
| September 9, 2022 | |
| #3 | | |
$ | 150,000 | | |
| September 9, 2025 | | |
| 6.75 | % | |
| - | | |
| 40,438 | |
| August 1, 2023 | |
| #4 | | |
$ | 87,199 | | |
| July 1, 2031 | | |
| 6.50 | % | |
| - | | |
| 66,413 | |
| November 13, 2023 | |
| #5 | | |
$ | 120,000 | | |
| November 13, 2026 | | |
| 9.25 | % | |
| - | | |
| 80,505 | |
| Total loans payable | |
| | | |
| | | |
| | | |
| | | |
| - | | |
| 192,378 | |
| Current portion | |
| | | |
| | | |
| | | |
| | | |
| - | | |
| (94,007 | ) |
| Non-current portion | |
| | | |
| | | |
| | | |
| | | |
$ | - | | |
$ | 98,371 | |
Notes:
| (1) |
Loan #1 is guaranteed by Cheung Chi Ping (“Mr. Cheung”), director of the Company, and Chrome I and secured by all intangible and tangible personal property of Mr. Cheung. |
| (2) |
Loan #2 is secured by the land of the golf course of the Company. |
| (3) |
Loan #3 is secured by the buildings of the golf clubs of the Company. |
| (4) |
Loan
#4 is secured by the golf course of the Company and repayable in eight years |
| (5) |
Loan #5 is secured by the land and building of the golf clubs of the Company. |
|
As
of December 31, 2024 and 2023, the bank and other borrowings consisted of the following:
Schedule of Bank
and Other Borrowings
| | |
| |
Principal | | |
| |
Fixed Interest | | |
As of December 31, | |
| Initiation date | |
Loan No. | |
Amount | | |
Maturity date | |
Rate | | |
2024 | | |
2023 | |
| May 13, 2020 | |
#1 | |
$ | 500,000 | | |
April 13, 2050 | |
| 3.75 | % | |
$ | - | | |
$ | 488,961 | |
| May 17, 2022 | |
#2 | |
$ | 25,050 | | |
August 1,2025 | |
| 5.50 | % | |
| 5,022 | | |
| 13,975 | |
| September 9, 2022 | |
#3 | |
$ | 150,000 | | |
September 9, 2025 | |
| 6.75 | % | |
| 40,438 | | |
| 91,202 | |
| August 1, 2023 | |
#4 | |
$ | 87,199 | | |
July 1, 2031 | |
| 6.50 | % | |
| 66,413 | | |
| 74,089 | |
| November 13, 2023 | |
#5 | |
$ | 120,000 | | |
November 13, 2026 | |
| 9.25 | % | |
| 80,505 | | |
| 117,088 | |
| Total loans payable | |
| |
| | | |
| |
| | | |
| 192,378 | | |
| 785,315 | |
| Current portion | |
| |
| | | |
| |
| | | |
| (94,007 | ) | |
| (135,970 | ) |
| Non-current portion | |
| |
| | | |
| |
| | | |
$ | 98,371 | | |
$ | 649,345 | |
Notes:
| (1) |
Loan
#1 is guaranteed by Cheung Chi Ping (“Mr. Cheung”), director of the Company, and Chrome I and secured by all intangible
and tangible personal property of Mr. Cheung. |
| (2) |
Loan
#2 is secured by the land of the golf course of the Company. |
| (3) |
Loan
#3 is secured by the buildings of the golf clubs of the Company. |
| (4) |
Loan
#4 is secured by the golf course of the Company and repayable in eight years |
| (5) |
Loan
#5 is secured by the land and building of the golf clubs of the Company. |
|