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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net loss $ (6,087,615) $ (1,195,323)
Depreciation 5,411 2,928
Stock based compensation for non employees 4,692,003 225,740
Gain/Loss on investment in equity securities 47,791
Government grant income (124,400)
Other non-cash income and expenses 9,503
Deferred tax (86,867) (51,024)
Changes in operating assets and liabilities:    
Decrease (increase) in accounts receivable (505) (238,484)
Decrease (increase) in prepaid expenses and deposits (113,292) (187,723)
Decrease (increase) in due from related parties (1,434,353) (18,229)
Increase (decrease) in inventory 2,537
Increase (decrease) in accounts payable (12,710)
Increase (decrease) in accrued expenses and other current liabilities (38,378) 136,519
Increase (decrease) in due to related parties 57,299 1,841
Net cash used in operating activities (2,994,257) (1,413,074)
Cash flows from investing activities    
Purchase of equipment (93,220)
Prepayment for equity investment (281,952)
Net cash used in investing activities (93,220) (281,952)
Cash flows from financing activities    
Issuance of common stock 40,448
Repayment of convertible notes (250,000)
Proceeds from long-term loans 236,498
Borrowings from related parties   10,651
Net proceeds from short-term borrowing from related parties   4,629
Net cash provided by financing activities   42,226
Effect of exchange rate changes on cash and cash equivalents and restricted cash (45,150) (15,335)
Net decrease in cash and cash equivalents and restricted cash (3,132,627) (1,668,135)
Cash and cash equivalents and restricted cash    
Beginning 6,565,215 5,001,371
Ending 3,432,588 3,333,236
Interest expense paid 43,842 21,666
Income taxes paid