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Accrued Expenses and Other Payables (Tables)

12 Months Ended

Dec. 31, 2023

Accrued Expenses and Other Payables [Abstract]

Schedule of Accrued Expenses and Other Payables

Accrued expenses and other payables as of December 31, 2022 and 2023 consisted of the following:

		December 31,				December 31,
		2022				2023
Construction costs payable		$	2,143,730			$	15,571,808
Equipment purchase payable			9,710,187				13,665,499
Liquidated damages*			1,210,119				1,210,119
Accrued staff costs			2,961,781				3,386,142
Customer deposits			4,845,382				2,875,131
Deferred revenue (note 2m)			1,869,525				784,000
Accrued expenses			2,476,605				2,781,730
Dividend payable to non-controlling interest to Hitrans			1,290,942				1,256,745
Other payable			182,915				461,366
			26,691,186				41,992,540
Less: non-current portion
Deferred revenue			1,085,525				-
		$	25,605,661			$	41,992,540

*

On August 15, 2006, the SEC declared effective a post-effective amendment that the Company had filed on August 4, 2006, terminating the effectiveness of a resale registration statement on Form SB-2 that had been filed pursuant to a registration rights agreement with certain shareholders to register the resale of shares held by those shareholders. The Company subsequently filed Form S-1 for these shareholders. On December 8, 2006, the Company filed its Annual Report on Form 10-K for the year ended September 30, 2006 (the “2006 Form 10-K”). After the filing of the 2006 Form 10-K, the Company’s previously filed registration statement on Form S-1 was no longer available for resale by the selling shareholders whose shares were included in such Form S-1. Under the registration rights agreement, those selling shareholders became eligible for liquidated damages from the Company relating to the above two events totaling approximately $1,051,000. As of December 31, 2022 and 2023, no liquidated damages relating to both events have been paid.