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Note Payable | 3 Months Ended
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Mar. 31, 2023
Note Payable [Abstract] |
NOTE PAYABLE | 14. NOTE PAYABLE Note payable consist of the following:
|  | Issue date |  |  | Principal amount US$ |  |  | Mature date |  |  | Effective annual rate |
FUCE Future Supply Chain (Xi’an) Co., Ltd. |  |  | August 10, 2022 |  |  | $ | 1,455,244 |  |  |  | August 10, 2023 |  |  |  | 0.05 | %
FUCE Future Supply Chain (Xi’an) Co., Ltd. |  |  | August 12, 2022 |  |  |  | 727,622 |  |  |  | August 12, 2023 |  |  |  | 0.05 | %
FUCE Future Supply Chain (Xi’an) Co., Ltd. |  |  | July 28, 2022 |  |  |  | 727,622 |  |  |  | July 28, 2023 |  |  |  | 0.05 | %
FUCE Future Supply Chain (Xi’an) Co., Ltd. |  |  | December 19, 2022 |  |  |  | 727,622 |  |  |  | December 19, 2023 |  |  |  | 0.05 | %
Total |  |  |  |  |  | $ | 3,638,110 |  |  |  |  |  |  |  |  |
At maturity, the Notes are payable at their principal amount thereon. The occurring with respect to any of the Company’s indebtedness, an event of default resulting in accelerated maturity or a failure to pay principal, interest or premium when due, the overdue interest shall be charged at 0.05% per day, without the need to notify the applicant and sign another loan contract. As of March 31, 2023, there was no such event of default.

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