OTHER NON-CURRENT LIABILITIES

6 Months Ended

12 Months Ended

Jun. 30, 2024

Dec. 31, 2023

Other Liabilities Disclosure [Abstract]

OTHER NON-CURRENT LIABILITIES

12. OTHER NON-CURRENT LIABILITIES

Other non-current liabilities consisted of the following:

	As of
	December 31, 2023		June 30, 2024
			(Unaudited)
Long-term payments of leaseback (1)	$	195,219	$	478,473
Deposit		78,631		-
Total	$	273,850	$	478,473

(1) Long-term payments of leaseback represented certain sale-and-lease back arrangements for the purpose of obtaining financing (Note 11 Accrued expenses and other liabilities).

As of June 30, 2024, the payments of leaseback will be due according to the following schedule:

For the fiscal years ended December 31,	Amount
Remainder of 2024	$	263,776
Thereafter		851,430
Total payments of leaseback and vehicle mortgage loan	$	1,115,206

MKDWELL TECH INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(In U.S. dollars, except share and per share data)

13. OTHER NON-CURRENT LIABILITIES

Other non-current liabilities consisted of the following:

	As of December 31,
	2022		2023
Long-term payments of leaseback (1)	$	57,096	$	195,219
Deposit		102,355		78,631
Long-term payable (2)		6,404		-
Total	$	165,855	$	273,850

(1)	Long-term payments of leaseback represented certain sale-and-lease back arrangements for the purpose of obtaining financing (Note 12).
(2)	Long-term payable represented payable for vehicle mortgage loan (Note 12).

As of December 31, 2023, the payments of leaseback and vehicle mortgage loan will be due according to the following schedule:

For the fiscal years ended December 31,	Amount
2024	$	315,139
2025		195,219
Thereafter
Total payments of leaseback and vehicle mortgage loan	$	510,358

MKDWELL TECH INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(In U.S. dollars, except share and per share data)