v3.26.1
OPERATING LEASE RIGHT–OF USE ASSETS
3 Months Ended
Mar. 31, 2026
Operating Lease Rightof Use Assets  
OPERATING LEASE RIGHT–OF USE ASSETS

NOTE 8 – OPERATING LEASE RIGHT–OF USE ASSETS

 

The Company has the rights to use certain parcels of land located in Shouguang, 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 34.93 square kilometers at March 31, 2026.

 

As of March 31, 2026, the total operating lease right-of-use assets was $5,621,918.

 

The total operating lease cost for the three-month period ended March 31, 2026 and 2025 was $222,161 and $217,801, respectively.