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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities    
Net loss $ (3,248,279) $ (3,493,319)
Depreciation 5,869 21,599
Stock based compensation for nonemployees 701,480 600
Gain/Loss on investment in equity securities 101,382 180,067
Government grant income (124,400)
Other non-cash income and expenses (5,886)
Investment loss   983,141
Deferred tax (111,388) (92,062)
Changes in operating assets and liabilities:    
Decrease (increase) in accounts receivable (137,312) (39,845)
Decrease (increase) in prepaid expenses and deposits (219,020) 20,091
Decrease (increase) in due from related parties (12,346) (438,174)
Increase (decrease) in accounts payable (17,997) (16,183)
Increase (decrease) in notes payable   51,240
Increase (decrease) in accrued expenses and other current liabilities 201,591 736,046
Increase (decrease) in advance from others (1,085) 836
Increase (decrease) in due to related parties 4,427 44,778
Net cash used in operating activities (2,857,078) (2,047,071)
Cash flows from investing activities    
Net proceeds from sale of investment   33,300
Prepayment for equity investment (421,974)
Net cash provided by (used in) investing activities (421,974) 33,300
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 short-term loan 100,000
Proceeds from short-term borrowing from third parties 31,850
Borrowings from related parties   71,688
Repayment of convertible notes (306,836)
Proceeds from long-term loans 236,498 124,400
Repayment of long-term bank loans (4,396) (263,362)
Net cash provided by financing activities (74,734) 2,255,107
Effect of exchange rate changes on cash and cash equivalents and restricted cash 9,419 4,590
Net increase (decrease) in cash and cash equivalents and restricted cash (3,344,367) 245,926
Cash and cash equivalents and restricted cash    
Beginning 5,001,371 160,443
Ending 1,657,004 406,369
Supplemental disclosure of cash flows    
Interest expense paid 69,623 59,812
Income taxes paid