NOTE 12 – PAYABLE AND ACCRUED EXPENSES
Payable and accrued expenses consist of the following:
Payable and Accrued
Expenses - Schedule of Accounts Payable and Accrued Liabilities
| | |
December 31,
2025 | |
December 31,
2024 (Restated) |
| Accounts payable | |
$ | 146,148 | | |
$ | 30,003 | |
| Salary payable | |
| 155,257 | | |
| 323,655 | |
| Social security insurance contribution payable | |
| 240,079 | | |
| 169,858 | |
| Accrued expense for construction | |
| 526,298 | | |
| 5,310,040 | |
| Accrued expense-others (1) | |
| 814,585 | | |
| 611,721 | |
| Total | |
$ | 1,882,367 | | |
$ | 6,445,277 | |
| (1) | Accrued expense-others mainly included accrued professional fees and accrued interest payable that is disputed by the Company in connection
with its borrowing from Shouguang Industrial and Commercial Bank Co., Ltd. |
See Note 26 - Restatement for discussion regarding the impact of the
restatement.
|