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Consolidated Statements of Cash Flows (unaudited) - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities    
Net loss $ (1,309,262) $ (873,317)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 11,174 13,940
Stock based compensation for nonemployees 525 8,550
Gain/Loss on investment in equity securities 70,411 66,205
Other non-cash income and expenses (2,333) (553)
Deferred tax (40,568) (48,028)
Changes in operating assets and liabilities:    
Decrease (increase) in accounts receivable 52,950 (116,334)
Decrease (increase) in prepaid expenses and deposits 27,834 29,237
Decrease (increase) in other receivable 39,005
Decrease (increase) in due from related parties (7,536) 1,252
Decrease (increase) in inventory 797
Increase (decrease) in accounts payable (3,632) (37,353)
Increase (decrease) in accrued expenses and other current liabilities 500,743 305,214
Increase (decrease) in due to related parties 68,750 11,857
Net cash used in operating activities (630,944) (599,528)
Cash flows from investing activities    
Long-term equity investment (17,801)
Net cash used in investing activities (17,801)
Cash flows from financing activities    
Issuance of common stock for acquisition 267,740 531,147
Proceeds from short-term bank loan 1,000,000
Proceeds from short-term borrowing from third parties 280,940  
Borrowings from related parties 71,688 312,660
Repayment of borrowings from related parties (460,000)
Repayment of long-term bank loans (9,981) (10,016)
Net cash provided by financing activities 610,387 1,373,791
Effect of exchange rate changes on cash and cash equivalents (93) (1,809)
Net increase (decrease) in cash and cash equivalents (20,650) 754,653
Cash and cash equivalents    
Beginning 160,443 242,781
Ending 139,793 997,434
Cash paid during the year for:    
Interest expense paid 10,446 26,592
Income taxes paid $ 1,250