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Loans Payable (Tables)

9 Months Ended

Sep. 30, 2023

Loans Payable [Abstract]

Schedule of Short-Term Bank Loans

Short-term bank loans

		September 30,				December 31,
		2023				2022
Industrial and Commercial Bank of China (“ICBC”) Loan 1		$	-			$	5,023,978
ICBC Loan 2			-				287,167
ICBC Loan 3			-				143,583
ICBC Loan 4			417,839				-
China Construction Bank Loan			-				143,583
ICBC Loan 5			417,839				-
Total short-term bank loans		$	835,678			$	5,598,311

Schedule of Long Term Loans

As of September 30, 2023 and December 31, 2022, long-term loans were $11,270,053 and $9,040,002, respectively.

		September 30,				December 31,
		2023				2022
Rural Credit Union of Xushui District Loan 1		$	1,197,805			$	1,234,816
Rural Credit Union of Xushui District Loan 2			3,481,536				3,589,582
Rural Credit Union of Xushui District Loan 3			2,228,474				2,297,332
Rural Credit Union of Xushui District Loan 4			1,810,635				1,866,582
Rural Credit Union of Xushui District Loan 5			2,507,034				-
Yujiangna			44,569				51,690
Total			11,270,053				9,040,002
Less: Current portion of long-term loans			(4,707,652	)			(4,835,884	)
Long-term loans		$	6,562,401			$	4,204,118

Schedule of Long-Term Debt Repayments

As of September 30, 2023, the Company’s long-term debt repayments for the next coming years were as follows:

Fiscal year		Amount
Remainder of 2023		$	4,707,652
2024			3,061,367
2025 & after			3,501,034
Total			11,270,053

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