Loans Extension Confirmation Letter, dated December 31, 2020, between the Company and Heung Mei Tsui confirming the extension of the loans
Loans Extension Confirmation Letter
Reference is made to the loans from Ms. Heung Mei Tsui to China Pharma Holdings, Inc. (the “Company”), the principal and accumulated interest totaled USD1,480,054 and USD1,354,567 respectively as of December 31, 2020 and 2019. Due to the fact the Company temporarily did not have enough balance in its oversea account to repay the loans, both Ms. Tsui and the Company agreed to extend the loans to December 31, 2021, by which date the Company shall repay the principal and accumulated interest.
|Lender:||/s/ Heung Mei Tsui|
|Borrower:||China Pharma Holdings, Inc.|
|By:||/s/ Zhilin Li, President & CEO|
|Date:||December 31, 2020|