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Accrued Expenses and Other Payables (Tables)

3 Months Ended

Mar. 31, 2024

Accrued Expenses and Other Payables [Abstract]

Schedule of Accrued Expenses and Other Payables

Accrued expenses and other payables as of December 31, 2023 and March 31, 2024 consisted of the following:

		December 31,				March 31,
		2023				2024
Construction costs payable		$	15,571,808			$	9,874,549
Equipment purchase payable			13,665,499				12,564,392
Liquidated damages*			1,210,119				1,210,119
Accrued staff costs			3,386,142				3,630,847
Customer deposits			2,875,131				3,759,955
Deferred revenue			784,000				784,000
Accrued operating expenses			2,005,976				2,030,801
Dividend payable to non-controlling interest (Note 16)			1,256,745				1,216,179
Other tax payables			775,754				579,943
Other payables			461,366				248,534
		$	41,992,540			$	35,899,319

*

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, 2023 and March 31, 2024, no liquidated damages relating to both events have been paid.