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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 $ (3,552,278) $ (5,141,507)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Depreciation and amortization 1,154,563 1,396,313
Provision for doubtful debts 427,702 323,938
Write-down of inventories 457,039 557,668
Share-based compensation 454,096 36,641
Loss (gain) on disposal of property, plant and equipment (13,360) 271,700
Changes in operating assets and liabilities:    
Trade accounts and bills receivable (4,154,650) 6,425,690
Inventories 2,738,941 378,742
Prepayments and other receivables 309,378 2,140,805
Trade accounts and bills payable (351,898) (10,467,403)
Accrued expenses and other payables 190,330 660,102
Trade receivable from and payables to former subsidiaries 4,321,809 (1,474,867)
Net cash (used in) provided by operating activities 1,981,672 (4,892,178)
Cash flows from investing activities    
Purchases of property, plant and equipment and construction in progress (779,064) (1,406,484)
Net cash used in investing activities (779,064) (1,406,484)
Cash flows from financing activities    
Capital injection from non-controlling interests 88,591
Repayment of bank borrowings (155,128) (3,585,946)
Borrowings from unrelated parties 3,440,970 6,380,157
Borrowings from shareholders 267,315 4,126,689
Borrowings from related parties 436,496
Repayment of borrowings from related parties (586,294)
Repayment of borrowings from unrelated parties (5,630,679)
Repayment of earnest money to shareholders (note 1) (769,298)
Net cash provided by (used in) financing activities (2,077,522) 6,090,395
Effect of exchange rate changes on cash and cash equivalents, and restricted cash (88,048) 42,036
Net decrease in cash and cash equivalents, and restricted cash (962,962) (166,231)
Cash and cash equivalents, and restricted cash at the beginning of period 7,133,948 17,689,493
Cash and cash equivalents, and restricted cash at the end of period 6,170,986 17,523,262
Supplemental non-cash investing and financing transactions:    
Transfer of construction in progress to property, plant and equipment 42,958 5,263,777
Issuance of common stock (note 1):    
- offset short-term borrowings from unrelated parties 10,926,495
- offset repayment of promissory notes 550,000
- offset payable to Shenzhen BAK (Sixth Debt) 4,285,532
Interest, net of amounts capitalized $ 524,860 $ 756,469