v3.7.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Operating Activities:    
Net income (loss) $ (289,077) $ 161,540
Adjustments to reconcile net income to net cash provided by operations    
Depreciation 6,583 1,981
Stock Compensation 246,858 189,795
Stock issued for services 0 875
Bad debt provision 49,231 43,507
Changes in operating assets and liabilities:    
Accounts receivable, net (508,309) (911,537)
Other receivable - related parties 38,713 (58,918)
Prepayment 478 2,274
Accounts payable and accrued expenses (93,046) 491,343
Deferred revenues 427,730 (2,270)
Other payables (4,456) 2,316
Deposit from customers 73,310 30,000
Due to related Parties 38,871 0
Income tax payable 6,839 33,078
Net cash provided by (used in) operating activities (6,274) (16,016)
Investing Activities:    
Purchase of fixed assets (4,838) (5,921)
Acquisition of subsidiaries 0 (175,000)
Net cash used in Investing activities 4,838 180,921
Financing Activities:    
Proceeds from issuance of common stock 22,500 225,567
Net cash provided by financing activities 22,500 225,567
Increase (Decrease) in cash and cash equivalents 11,388 28,630
Cash and cash equivalents at beginning of period 973,015 641,663
Cash and cash equivalents at end of period 984,403 670,293
Interest paid 0 0
Income taxes paid $ 0 $ 0