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Accrued Expenses and Other Payables (Tables) | 12 Months Ended
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Dec. 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 2024 consisted of the following:
|  | December 31, |  |  | December 31, |
|  | 2023 |  |  | 2024 |
Construction costs payable |  | $ | 15,571,808 |  |  | $ | 11,570,384 |
Equipment purchase payable |  |  | 13,665,499 |  |  |  | 10,871,081 |
Liquidated damages* |  |  | 1,210,119 |  |  |  | 1,210,119 |
Accrued staff costs |  |  | 3,386,142 |  |  |  | 6,253,168 |
Customer deposits |  |  | 2,875,131 |  |  |  | 6,856,137 |
Deferred revenue (note 2m) |  |  | 784,000 |  |  |  | 4,831,774 |
Accrued expenses |  |  | 2,118,121 |  |  |  | 2,059,252 |
Interest payables |  |  | 59,524 |  |  |  | 69,927 |
Other tax payables |  |  | 775,754 |  |  |  | 1,175,339 |
Dividend payable to non-controlling interest to Hitrans |  |  | 1,256,745 |  |  |  | 1,221,915 |
Payables to suppliers for non-operating agency-based service |  |  | - |  |  |  | 11,981,065 |
Other payable |  |  | 289,697 |  |  |  | 185,474 |
|  | $ | 41,992,540 |  |  | $ | 58,285,635 |
* | 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 2024, no liquidated damages relating to both events have been paid.

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- Definition Tabular disclosure of the (a) carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business (accounts payable); (b) other payables; and (c) accrued liabilities. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). An alternative caption includes accrued expenses. + References No definition available. + Details
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