XML 30 R20.htm IDEA: XBRL DOCUMENT

Note Payable

6 Months Ended

Jun. 30, 2023

14. NOTE PAYABLE

Note payable consist of the following:

	Issue date	Principal amount US$		Mature date	Fee
FUCE Future Supply Chain (Xi’an) Co., Ltd.	August 10, 2022	$	1,383,930	August 10, 2023		0.05	%
FUCE Future Supply Chain (Xi’an) Co., Ltd.	August 12, 2022		691,965	August 12, 2023		0.05	%
FUCE Future Supply Chain (Xi’an) Co., Ltd.	July 28, 2022		691,965	July 28, 2023		0.05	%
FUCE Future Supply Chain (Xi’an) Co., Ltd.	December 19, 2022		691,965	December 19, 2023		0.05	%
Total		$	3,459,825

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 June 30, 2023, there was no such event of default.