XML 27 R10.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
Restricted Cash
3 Months Ended
Mar. 31, 2024
Restricted Cash [Abstract]  
Restricted Cash

(3) Restricted Cash

 

Out of the restricted cash, $431,376 as of March 31, 2024 was presented for the cash deposited at the Bank of Cangzhou for purpose of securing the bank acceptance notes from this bank (see Note (10)). The restriction will be lifted upon the maturity of the notes payable on July 16, 2024. Restricted cash of 472,163 and $472,983 as of March 31, 2024 and December 31, 2023 was presented for the cash deposited at the Industrial and Commercial Bank of China of Tengsheng Paper. The deposit was restricted due to the personal legal proceeding of Mr. Ping, the Legal Representative of Tengsheng Paper.