Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Other Receivables (Details) - Schedule of other receivables

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Other Receivables (Details) - Schedule of other receivables - USD ($)
Dec. 31, 2021
Dec. 31, 2020
Schedule of other receivables [Abstract]    
Receivables from Huanghai [1] $ 92,108,537
VAT recoverable [2] 11,060 1,520,501
Other [3] 21,646,124 380,593
Other receivables $ 113,765,721 $ 1,901,094
[1] On December 27, 2021, the Company and Huanghai entered into an agreement to terminate the building of a krill vessel and Huanghai agreed to refund all of the RMB587.3 million (approximately $92.1 million) of the prepayment made by the Company. During the first quarter of 2022, the Company received RMB147.7 million (approximately $23.2 million) from Huanghai.
[2] The balance of recoverable VAT represents input VAT available to offset VAT to be paid in the future.
[3] Other mainly consists of receivables from Hong Long of$20.9 million, Honglong was an affiliate company majority owned by an immediate family member of the Company’s CEO and is no longer a related party of the Company since this immediate family member sold his interests in Hong Long to an unrelated party on October 10, 2021.