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OPERATING LEASE RIGHT–OF USE ASSETS
9 Months Ended
Sep. 30, 2025
Operating Lease Rightof Use Assets  
OPERATING LEASE RIGHT–OF USE ASSETS

NOTE 8 – OPERATING LEASE RIGHT–OF USE ASSETS

 

The Company has the rights to use certain parcels of land located in Shouguang, PRC, through lease agreements signed with local townships or the government authority. For parcels of land that are collectively owned by local townships, the Company cannot obtain land use rights certificates. The parcels of land of which the Company cannot obtain land use rights certificates covers a total of approximately 34.95 square kilometers with an aggregate operating lease right-of-use assets amount of $6,980,537 as at September 30, 2025.

 

As of September 30, 2025, the total operating lease ROU assets was $5,847,348.

 

The total operating lease cost for the nine-month period ended September 30, 2025 and 2024 was $654,450 and $659,509.