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Lease (Tables)
3 Months Ended
Mar. 31, 2022
Lease [Abstract]  
Schedule of prepaid land use rights
   Prepaid 
   land  
   lease payments 
Balance as of January 1, 2021  $7,500,780 
Addition for the year   6,188,764 
Amortization charge for the year   (189,044)
Foreign exchange adjustment   296,730 
Balance as of December 31, 2021   13,797,230 
Amortization charge for the period   (89,718)
Foreign exchange adjustment   30,359 
Balance as of March 31, 2022  $13,737,871 

 

Schedule of net investment in sales-type leases
   December 31,   March 31, 
   2021   2022 
Total future minimum lease payments receivable  $1,737,817    1,587,106 
Less: unearned income, representing interest   (108,773)   (79,911)
Present value of minimum lease payments receivables   1,629,044    1,507,195 
Less: Current portion   (790,516)   (792,262)
Non-current portion  $838,528    714,933 

 

Schedule of future minimum lease payments receivable for sales type leases
Fiscal years ending  Total Minimum
Lease
Payments to
be Received
  

Amortization
of Unearned

Income

  

Net Investment

in Sales

Type Leases

 
Remainder of 2022  $710,287   $56,764   $653,523 
2023   685,055    22,568    662,487 
2024   191,764    579    191,185 
2025   
-
    
-
    
-
 
2026   
-
    
-
    
-
 
Thereafter   
-
    
-
    
-
 
    1,587,106    79,911    1,507,195 

 

Schedule of operating lease expenses
   March 31,
2021
   March 31,
2022
 
Operating lease cost – straight line  $11,321   $212,691 
Total lease expense  $11,321   $212,691 

 

Schedule of maturities of lease liabilities
   Operating leases 
     
Remainder of 2022  $737,297 
2023   770,767 
2024   41,235 
2025   41,859 
2026   37,472 
Thereafter   
-
 
Total undiscounted cash flows   1,628,630 
Less: imputed interest   (79,666)
Present value of lease liabilities  $1,548,964 

 

Schedule of lease term and discount rate
   December 31,
2021
   March 31,
2022
 
Weighted-average remaining lease term        
Land use rights   38.9    38.7 
Operating leases   2.32    2.32 
           
Weighted-average discount rate          
Land use rights   Nil    Nil 
Operating leases   5.88%   5.39%
           

 

Schedule of supplemental cash flow
   March 31,
2021
   March 31,
2022
 
Operating cash outflows from operating assets  $135,379   $32,451