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Consolidated statements of cash flows - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities    
Net loss $ (7,846,768) $ (10,853,435)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 2,700,888 2,753,200
Provision for doubtful accounts 721,737 1,046,360
Write-down of inventories 1,450,182 834,362
Share-based compensation 803,931 770,113
Changes in fair value of warrants liability (2,072,000)
Loss on disposal of property, plant and equipment 21,317 213,749
Impairment charge 4,345,811 2,326,552
Changes in operating assets and liabilities:    
Trade accounts and bills receivable (20,767,355) 10,313,229
Inventories 2,305,697 11,044
Prepayments and other receivables (2,171,694) 2,808,375
Investment in sales-type lease (1,026,739)
Trade accounts and bills payable 11,088,116 (30,530,773)
Accrued expenses and other payables and product warranty provisions (975,687) 1,087,216
Trade receivable from and payables to former subsidiaries 3,428,010 (2,002,358)
Government grants 2,897,207
Net cash used in operating activities (5,097,347) (21,222,366)
Cash flows from investing activities    
Proceeds on disposal of property, plant and equipment 32,719
Purchases of property, plant and equipment and construction in progress (5,709,975) (2,452,907)
Net cash used in investing activities (5,709,975) (2,420,188)
Cash flows from financing activities    
Capital injection from non-controlling interests 127,338
Proceeds from bank borrowings 5,776,497
Repayment of bank borrowings (13,325,849) (3,643,971)
Borrowings from unrelated parties 3,505,621 6,341,117
Repayment of borrowings from unrelated parties (9,778,074) (14,477)
Borrowings from related parties 492,233
Repayment of borrowings from related parties (1,365,714)
Borrowings from shareholders 358,358 4,053,682
Repayment of borrowings from shareholders (281,676)
Repayment of earnest money to shareholders (966,579)
Proceeds from issuance of shares 45,348,582
Proceeds from issuance of promissory notes (Note 17) 2,750,000
Net cash provided by financing activities 25,826,962 13,550,126
Effect of exchange rate changes on cash and cash equivalents and restricted cash (1,482,090) (463,117)
Net increase (decrease) in cash and cash equivalents and restricted cash 13,537,550 (10,555,545)
Cash and cash equivalents and restricted cash at the beginning of year 7,133,948 17,689,493
Cash and cash equivalents and restricted cash at the end of year 20,671,498 7,133,948
Supplemental non-cash investing and financing activities:    
Transfer of construction in progress to property, plant and equipment 8,434,331 5,975,163
Non-cash payment for purchases of property, plant and equipment and construction in progress by new vehicles 644,917
- offset short term borrowings (First Debt, Second Debt and Third Debt) 15,029,948
- offset construction cost payable (Fourth Debt) 3,343,378
- offset accounts payable (Fifth Debt) and unpaid earnest money 5,159,831
- offset repayment of promissory note 3,339,528
- offset payable to Shenzhen Bak (Sixth Debt) 4,285,532
- offset construction cost payable (Seventh Debt) 11,173,018
Income taxes
Interest, net of amounts capitalized $ 989,529 $ 1,378,349