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INVESTMENT – HEZE HONGYUAN NATURAL GAS CO. CONVERTIBLE NOTE RECEIVABLE | 9 Months Ended
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Sep. 30, 2024
Schedule of Investments [Abstract] |
INVESTMENT – HEZE HONGYUAN NATURAL GAS CO. CONVERTIBLE NOTE RECEIVABLE | NOTE 7 – INVESTMENT – HEZE HONGYUAN NATURAL GAS CO. CONVERTIBLE NOTE RECEIVABLE Effective January 10, 2022, JHJ (the “Note Holder”) entered a convertible note agreement with Chengdu Rongjun Enterprise Consulting Co., Ltd (“Rongjun” or the “Borrower”) with maturity on January 10, 2025. Under this convertible note, JHJ lent RMB 5,000,000 ($0.78 million) to Rongjun with annual interest rate of 12%, calculated from the Issuance Date until all outstanding interest and principal is paid in full. The Borrower may pre-pay principal or interest on this Note at any time prior to the maturity date, without penalty. JHJ has the right to convert this note directly or indirectly into shares or equity interest of Heze Hongyuan Natural Gas Co., Ltd (“Heze”) equal to 15% of Heze’s outstanding equity interest. Rongjun owns 90% of Heze. During the year end December 31, 2023, JHJ recorded $58,273 interest income accrued from 2022 from this note, the accrual of interest income ceased in October 2022.

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- Definition The entire disclosure for investment holdings. This includes the long positions of investments for the entity. It contains investments in affiliated and unaffiliated issuers. The investments include securities and non securities (i.e. commodities and futures contracts). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478795/946-210-50-12 + Details
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