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Statutory Reserves and Restricted Net Assets
 12 Months Ended
Dec. 31, 2023
Statutory Reserves and Restricted Net Assets [Abstract]  
Statutory reserves and restricted net assets

Note 15 – Statutory reserves and restricted net assets

 

As a result of the PRC laws and regulations and the requirement that distributions by PRC entities can only be paid out of distributable profits computed in accordance with PRC GAAP, the PRC entities are restricted from transferring a portion of their net assets to the Company. Amounts restricted include paid-in capital, additional paid-in capital, and the statutory reserves of the Company’s PRC subsidiaries.

 

   As of
December 31		   As of
December 31,		 
   2023   2022 
PRC entities        
Paid-in capital  $86,131,578   $83,872,972 
Additional paid-in capital   144,532,239    93,759,405 
Statutory reserves   10,848,816    10,848,816 
Total restricted net assets  $241,512,633   $188,481,193 

 

As of December 31, 2023 and 2022, total restricted net assets were US$241,512,633 and US$188,481,193, respectively.