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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities    
Net loss $ (3,493,319) $ (1,487,770)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 21,599 29,631
Stock based compensation for nonemployees 600 17,276
Gain/Loss on investment in equity securities 180,067 117,424
Other non-cash income and expenses (5,886) (2,288)
Investment loss 983,141  
Deferred tax (92,062) (101,193)
Changes in operating assets and liabilities:    
Decrease (increase) in accounts receivable (39,845) (258,963)
Decrease (increase) in prepaid expenses and deposits 20,091 14,993
Decrease (increase) in due from related parties (438,174) (82,681)
Decrease (increase) in inventory   1,043
Increase (decrease) in accounts payable (16,183) 9,158
Increase (decrease) in notes payable 51,240 (14,535)
Increase (decrease) in accrued expenses and other current liabilities 736,046 563,112
Increase (decrease) in advanced from others 836
Increase (decrease) in due to related parties 44,778 (201,707)
Net cash used in operating activities (2,047,071) (1,396,500)
Cash flows from investing activities    
Net proceeds from sale of investment 33,300
Loan to related parties (3,230)
Long-term equity investment (17,746)
Net cash provided by (used in) investing activities 33,300 (20,976)
Cash flows from financing activities    
Issuance of common stock for private placement 1,697,051
Issuance of common stock for stock-based compensation 493,480  
Proceeds from issuance of common stock for acquisition 531,147
Proceeds from convertible notes 160,000
Proceeds from short-term loan 100,000 1,000,000
Proceeds from long-term loan 124,400
Net proceeds from short term borrowings from third parties 31,850
Net proceeds from short term borrowings from related parties 71,688 519,384
Repayment of borrowings from related parties (460,000)
Repayment of long-term bank loans (263,362) (19,013)
Net cash provided by financing activities 2,255,107 1,731,518
Effect of exchange rate changes on cash and cash equivalents 4,590 (392)
Net increase in cash and cash equivalents 245,926 313,650
Cash and cash equivalents    
Beginning 160,443 242,781
Ending 406,369 556,431
Cash paid during the year for:    
Interest expense paid 59,812 2,050
Income taxes paid $ 183,166