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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities    
Net loss $ (1,195,323) $ (1,309,262)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 2,928 11,174
Stock based compensation for nonemployees 225,740 525
Gain/Loss on investment in equity securities 47,791 70,411
Government grant income (124,400)
Other non-cash income and expenses (2,333)
Deferred tax (51,024) (40,568)
Changes in operating assets and liabilities:    
Decrease (increase) in accounts receivable (238,484) 52,950
Decrease (increase) in prepaid expenses and deposits (187,723) 27,834
Decrease (increase) in due from related parties (18,229) (7,536)
Increase (decrease) in accounts payable (12,710) (3,632)
Increase (decrease) in accrued expenses and other current liabilities 136,519 500,743
Increase (decrease) in due to related parties 1,841 68,750
Net cash used in operating activities (1,413,074) (630,944)
Cash flows from investing activities    
Prepayment for equity investment (281,952)
Net cash used in investing activities (281,952)
Cash flows from financing activities    
Issuance of common stock 40,448 267,740
Proceeds from short-term borrowing from third parties 280,940
Repayment of convertible notes (250,000)
Proceeds from long-term loans 236,498
Borrowings from related parties 15,280 71,688
Repayment of long-term bank loans (9,981)
Net cash provided by financing activities 42,226 610,387
Effect of exchange rate changes on cash and cash equivalents and restricted cash (15,335) (93)
Net increase (decrease) in cash and cash equivalents and restricted cash (1,668,135) (20,650)
Cash and cash equivalents and restricted cash    
Beginning 5,001,371 160,443
Ending 3,333,236 139,793
Supplemental disclosure of cash flows    
Interest expense paid 21,666 10,446
Income taxes paid