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Subsequent Events | 12 Months Ended
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Dec. 31, 2023
Subsequent Events |
Subsequent Events | Note 19. Subsequent Events In January and February 2024, the Company obtained a total of $7.9 million in new one-year bank loans with interest rates ranging from 3.0% to 4.3%. The $5.1 million of the new bank loans are unsecured, while the remaining $2.8 million was collateralized by a ChaoYang LiMei time deposit. The Company repaid $14.5 million of existing loans In January and February 2024. In January 2024, the Company secured a new line of credit amounting to $9.9 million, structured as a five-year bank loan. The credit facility bears an interest rate of 6.5% on the amount drawn from the line of credit. The credit facility is collateralized by the real estate properties owned by ChaoYang Tongmei. In January 2024, the Company borrowed $5.9 million against the credit facility. The primary intended use of the credit facility is for construction projects. In January, February and March 2024, our consolidated subsidiaries, collectively, received approximately $715,000 in subsidies from the Chinese government. These funds are designated to support digital projects within enterprises and initiatives aimed at waste recycling, etc. ​

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483399/855-10-50-2 + Details
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