Loan Extension Confirmation Letter between China Pharma Holdings, Inc. and Heung Mei Tsui dated December 31, 2022
China Pharma Holdings, Inc. and Ms. Heung Mei Tsui have agreed to extend the repayment date for outstanding loans totaling $1,354,567 in principal and $152,577.99 in interest. The new repayment deadline is December 31, 2023. The extension was granted because the company did not have sufficient funds in its overseas account to repay the loans by the original due date. Both parties have signed the agreement to confirm the new terms.
Exhibit 10.11
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 USD1,354,567 and USD152,577.99 respectively as of December 31, 2022. 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, 2023, 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, 2022 |
