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ACCRUED LIABILITIES | 9 Months Ended
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Sep. 30, 2025
Payables and Accruals [Abstract] |
ACCRUED LIABILITIES | NOTE 16 – ACCRUED LIABILITIES On September 18, 2023, Shandong Shouguang Vegetable Industry Group Co., Ltd. and Shandong Shouguang Vegetable Seed Group Co., Ltd. entered into loan agreements with Shandong Deepin City Emergency Loan Fund Co., Ltd.. A total of nine companies and individuals providing guarantee to these loans, including SCHC and SYCI. As of July 2024, Shangdong Shouguang Vegetable Industry Group Co., Ltd. and Shandong Shouguang Vegetable Seed Group Co., Ltd. owed a principal of $2,104,050 and RMB $1,402,700 to Shandong Deepin City Emergency Loan Fund Co., Ltd., respectively. Mediated by the Local Arbitration Commission and documented in mediation documents No. 1358 and 1357, Shandong Shouguang Vegetable Industry Group Co., Ltd. and Shandong Shouguang Vegetable Seed Industry Group Co., Ltd. were to repay $2,104,050 and $1,402,700 to Shandong Deepin City Emergency Loan Fund Co., Ltd. before May 8, 2024, respectively. In addition, they were required to pay interests every ten days starting from January 1, 2024. SCHC and SYCI are jointly and severally liable for both the principal and interests. Shandong Deepin City Emergency Loan Fund Co., Ltd. sought court action as Shandong Shouguang Vegetable Industry Group Co., Ltd. and Shandong Shouguang Vegetable Seed Industry Group Co., Ltd. were unable to pay principal before deadline or interests as scheduled. Pursuant to court orders (2024) Lu 07 Exec 640 and (2024) Lu 07 Exec 641, SCHC and SYCI, as guarantors, are required to repay the principal and interests. The Shandong Weifang Intermediate People's Court ruled to auction the land at Xiangjiang road, Yangkou town, Shouguang City and the attached properties on it, and the auction proceeds would be used to repay Shandong Deepin City Emergency Loan Fund Co., Ltd. The court engaged a third-party valuer for evaluation of the land at Xiangjiang road, Yangkou town ,Shouguang city and its attached properties. The valuation report returned a fair value of $4,580,892. The Company recognized an impairment loss of $29,782,912 accordingly. The court imposed a forced auction of the land and its attached properties in July, 2025 however the auction was filed. A second auction was held on August 15, 2025. The land and its attached properties were sold at $2,556,733. As the selling price was lower than the fair value, the Company recognized a loss on disposal of long-term assets of $2,008,853. As of September 30, 2025, as SCHC and SYCI were liable for a sum of principal and interests of $3,521,613, net of auction proceeds, the Company recognized accrued liabilities of $968,113 accordingly.

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- Definition The entire disclosure for accounts payable, accrued expenses, and other liabilities that are classified as noncurrent at the end of the reporting period. + References No definition available. + Details
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