XML 51 R41.htm IDEA: XBRL DOCUMENT v3.24.2.u1
LONG-TERM BANK LOANS (Tables)
6 Months Ended
Jun. 30, 2024
LONG-TERM BANK LOANS [Abstract]  
Long-Term Bank Loans



                   
As of June 30, 2024
   
As of December 31, 2023
 

                   
(Unaudited)
       
Bank and other financial institution
 
Annual Interest Rate
 
Start
 
Maturity
 
Principal
   
Current Portion
   
Non-current
portion
   
Current Portion
   
Non-current
portion
 
Bank of Multiple Promerica Republic Dominicana
  (1)  
 
10.00
%
April and
June 2024
 
April and
June 2029
   
461,636
     
95,047
     
366,589
     
-
     
-
 
Total
                 
461,636
     
95,047
     
366,589
     
-
     
-
 

(1)
On April 30, 2024 and June 21, 2024, the Company borrowed $408,000 and $67,236 from Bank of Multiple Promerica Republic Dominicana, with the interest of 10% and the due date of April 29, 2029 and June 20, 2029, respectively. The Company should repay the loan monthly in five years after the month the loans were borrowed, with monthly principal repayment of $6,800 and $1,121, respectively. As of June 30, 2024, principal amount of $13,600 was repaid.