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Commitments
9 Months Ended
Sep. 30, 2019
Commitments  
9. Commitments

The Company enters into land leases with rural townships to grow agricultural products. The contracts are entered into and paid on a year to year basis. The Company does have any non-cancelable lease agreements.

 

Pledges

 

The Company had provided unconditional guarantees to Hubei Shayang Rural Bank and Shayang District Li City Rural Credit Cooperative for loans provided to certain related parties. At September 30, 2019 and December 31, 2018, the outstanding loans balances owed to Hubei Shayang Rural Bank and Shayang District Li City Rural Credit Cooperative were $856,950 and $403,629. The maximum amount of loss if the related parties become insolvent would be $856,950 and $403,629.