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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities    
Net loss $ (1,487,770) $ (1,449,662)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 29,631 22,671
Stock-based compensation 17,276 15,826
Other non-cash income and expenses (2,288)
Loss on sale of investment 85,923
Loss on investment in equity securities 117,424 125,483
Deferred tax (101,193) (173,017)
Changes in assets and liabilities:    
Decrease (increase) in accounts receivable (258,963) 1,542
Decrease (increase) in other receivable (42,135)
Decrease (increase) in prepaid expenses and deposits 14,993 (189,811)
Decrease (increase) in due from related parties (82,681) 159,210
Decrease (increase) in inventory 1,043 15,414
Increase (decrease) in accounts payable 9,158 93,873
Increase (decrease) in notes payable (14,535)
Increase (decrease) in accrued expenses and other current liabilities 563,112 382,798
Increase (decrease) in due to related parties (201,707) (6,131)
Net cash used in operating activities (1,396,500) (958,016)
Cash flows from investing activities    
Net proceeds from sale of investment in equity securities 108,819
Loan to related parties (3,230)
Long-term equity investment (17,746)
Net cash provided by (used in) investing activities (20,976) 108,819
Cash flows from financing activities    
Proceeds from issuance of common stock for acquisition of BioKey 531,147
Proceeds from convertible notes 160,000 550,000
Proceeds from short-term bank loans 1,000,000
Proceeds from short-term borrowing from third-parties 56,274
Net proceeds from short-term borrowings from related parties 519,384 382,220
Repayment of borrowings from related parties (460,000) (157,000)
Repayment of long-term bank loans (19,013) (19,517)
Net cash provided by financing activities 1,731,518 811,977
Effect of exchange rate changes on cash and cash equivalents (392) (3,786)
Net increase (decrease) in cash, cash equivalents, and restricted cash equivalents 313,650 (41,006)
Cash, cash equivalents, and restricted cash equivalents    
Beginning 226,688 350,257
Ending 540,308 309,251
Cash paid during the year for:    
Income tax 2,050 1,850
Interest expense $ 183,166 $ 105,910