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NOTE 9 - OPERATING LEASE
3 Months Ended
Jul. 31, 2022
Notes  
NOTE 9 - OPERATING LEASE

NOTE 9 - OPERATING LEASE

 

The Company leased Metformin production line including buildings, manufacturing equipment and construction in process to the third party lessee for five years, effective July 10, 2019. The lessee paid a lease deposit of RMB1,000,000 (approximately $152,000) as guarantee and annual lease fee of RMB3,000,000 (approximately $455,000). The Company recorded revenues of $102,580 and $106,782 from this operating lease for the first quarter of fiscal 2023 and 2022, respectively.