XML 29 R12.htm IDEA: XBRL DOCUMENT v3.22.1
OPERATING LEASE RIGHT–OF-USE ASSETS
12 Months Ended
Dec. 31, 2021
Operating Lease Rightof-use Assets  
OPERATING LEASE RIGHT–OF-USE ASSETS

NOTE 6 – OPERATING LEASE RIGHT–OF-USE ASSETS

 

As of December 31, 2021, the total operating lease ROU assets was $8,311,127.

 

The total operating lease cost for the years ended December 31, 2021 and 2020 was $965,690 and $927,745.

 

The Company has the rights to use certain parcels of land located in Shouguang, the PRC, through lease agreements signed with local townships or the government authority (See Note 3). For parcels of land that are collectively owned by local townships, the Company cannot obtain land use rights certificates. The parcels of land of which the Company cannot obtain land use rights certificates covers a total of approximately 38.6 square kilometers with an aggregate operating lease right-of-use assets amount of $7,964,164 as at December 31, 2021.