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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities    
Net loss $ (1,695,996) $ (3,312,215)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 69,177
Depreciation and amortization 377,731 414,224
(Gain) Loss on disposal of equipment (15,247)
Provision for doubtful accounts 28,963 43,873
Change in warranty obligation (3,881)
Provision for inventory obsolescence 114
Change in fair value of warrants liability 300,304 99,820
Unrealized loss on securities (143,478) 678,304
Changes in assets and liabilities:    
Decrease (Increase) in accounts receivable (59,579) 42,873
Decrease in advances to suppliers 108 4,721
Decrease in other receivables and prepayments, net - third parties (4,897) 184,296
Increase in interest receivables - related party (1,023)
Decrease (Increase) in inventories 272,095 231,644
Increase in operating lease right-of-use assets, net (59,260)
Decrease (Increase) in other taxes receivable 46,762 21,642
Increase in accounts payable (29,881) 27,010
Increase in interest payable – related party 8,908
Increase in operating lease liabilities, current 44,268
Increase (Decrease) in advances from customers (129,208) 65,999
Increase (Decrease) in accrued expenses and other current liabilities (625,612) 412,154
Net cash used in operating activities (1,662,688) (1,042,599)
Cash flows from investing activities    
Proceeds from disposal of equipment 16,302
Loan to a related party (85,000)
Net cash used in investing activities (68,698)
Cash flows from financing activities    
Loans from related parties 842,609 818,500
Net proceeds from issuance of common stock 7,192,537  
Net cash provided by financing activities 8,035,146 818,500
Effect of exchange rate fluctuations on cash and cash equivalents 1,196 (130,964)
Net increase (decrease) in cash and cash equivalents 6,373,654 (423,761)
Cash and cash equivalents at beginning of period 22,834 477,309
Cash and cash equivalents at end of period 6,396,488 53,548
Supplemental cash flow information    
Income tax paid
Interest paid
Non-cash investing and financing activities:    
Offset short-term borrowings - related party against loans to a related party (including accrued interests) $ 89,006 $ 86,023