XML 19 R8.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
Unaudited Interim Condensed Consolidated Statements of Cash Flows - USD ($)
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Loss $ (4,157,539) $ (21,309)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation of equipment 1,183
Amortization of intangible assets 182,373
Lease expenses of right-of-use assets 95,057
Interest income earned from loan to a third party (19,781)
Changes in operating assets and liabilities    
Accounts receivable 61,968
Other receivables 264 (15,720)
Prepaid and other current assets 230,657 (187,968)
Accounts payable (43,845)
Other payables and accrued liabilities 170,150 (168,914)
Lease liabilities (141,313)
Taxes payable (4,846)
Other payables - related party 20,000
Deferred tax liability 1,039
Net cash used in operating activities (3,617,910) (380,634)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Loan to a third party (1,900,000)
Net cash used in investing activities (1,900,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common stock 829,879
Proceeds from exercise of pre-funded warrants 654
Net cash provided by financing activities 830,533
EFFECT OF EXCHANGE RATE CHANGE ON CASH AND CASH EQUIVALENTS (1,940) 1,695
NET DECREASE IN CASH AND CASH EQUIVALENTS (4,689,317) (378,939)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 5,175,518 389,108
CASH AND CASH EQUIVALENTS, END OF PERIOD 486,201 10,169
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for income tax
Cash paid for interest
NON-CASH TRANSACTIONS OF INVESTING AND FINANCING ACTIVITIES    
The cancellation of the common stock 948,000
Initial recognition of right-of-use assets and lease liability 100,002
Issuance of common stock for purchase of noncontrolling interest in SH Xianzhui 3,150,793
Exercise of November 2023 Registered Warrants $ 71