XML 26 R6.htm IDEA: XBRL DOCUMENT v3.23.3
UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities    
Net loss $ (12,000,418) $ (6,633,074)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization 4,671,926 4,833,622
Loss of disposal assets 162,186  
Stock-based (forfeited), compensation, net 581,670 785,372
Interest expense-income, net 550,202 740,792
Foreign exchange losses / (gains) 1,247,340 419,832
Other non-cash 369,653 333,969
Changes in operating assets and liabilities:    
Account receivable (177,483) (292,246)
Inventory (308,011) (961,140)
Other assets and prepayments (1,395,292) (1,106,955)
Income tax payable   (530,065)
Accounts payable (15,292) 754,018
Deferred revenue (17,209) 227,351
Other liabilities 235,449 (346,566)
A. Net cash from operating activities (6,095,279) (1,775,090)
Cash flow from investing activities    
Purchases of vehicles (3,431,059) (4,443,034)
Purchases of other property, plant and equipment (496,510) (225,751)
Purchases of intangible assets (71,770) (88,676)
Proceeds from disposal of property, plant and equipment 5,381  
B. Net cash used in investing activities (3,993,958) (4,757,461)
Cash flow from financing activities    
Proceeds from issuance of convertible notes 7,500,000  
Payments of term loans (3,937,842) (3,040,943)
C. Net cash from financing activities 3,562,158 (3,040,943)
D. Decrease in cash and cash equivalents and restricted cash (6,527,079) (9,573,494)
E. Effect of exchange rate changes   (336,706)
F. Net decrease in cash and cash equivalents (6,527,079) (9,910,200)
G. Cash and cash equivalents at beginning of the period 10,497,570 13,215,729
Cash and cash equivalents at the end of the period 3,970,491 3,305,529
Cash paid, received for:    
Interest, net $ (604,509) (786,960)
Income taxes   $ (530,065)