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NOTE 9 - OPERATING LEASE
6 Months Ended
Oct. 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 $137,000) as guarantee and annual lease fee of RMB3,000,000 (approximately $411,000). The Company recorded revenues of $98,185 and $106,647 from this operating lease in the three months ended October 31, 2022 and 2021, and the Company recorded revenues of $200,765 and $213,429 from this operating lease in the six months ended October 31, 2022 and 2021.