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Right-of-use Assets | 9 Months Ended
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Sep. 30, 2020
Right-of-use assets [Abstract] |
Right-of-use assets |
9. | Right-of-use assets
Right-of-use assets as of September 30, 2020 consisted of the followings:
|  | Prepaid land lease payments |
Balance as of January 1, 2020 |  | $ | 7,194,195 |
Amortization charge for the period |  |  | (120,457 | )
Foreign exchange adjustment |  |  | 179,648 |
Balance as of September 30, 2020 |  | $ | 7,253,386 |
Lump sum payments were made upfront to acquire the leased land from the owners with lease period for 50 years up to August 9, 2064, and no ongoing payments will be made under the terms of these land leases.

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