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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net loss $ (8,034,948) $ (3,248,279)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 10,902 5,869
Stock based compensation for non employees 4,917,743 701,480
Gain/Loss on investment in equity securities 101,382
Government grant income (124,400)
Other non-cash income and expenses 18,831
Deferred tax (170,118) (111,388)
Changes in operating assets and liabilities:    
Decrease (increase) in accounts receivable (8,782) (137,312)
Decrease (increase) in prepaid expenses and deposits (784,714) (219,020)
Decrease (increase) in due from related parties (2,435,935) (12,346)
Increase (decrease) in inventory 2,473
Increase (decrease) in accounts payable 2,085 (17,997)
Increase (decrease) in accrued expenses and other current liabilities (21,915) 201,591
Increase (decrease) in advance from others   (1,085)
Increase (decrease) in due to related parties 80,760 4,427
Net cash used in operating activities (6,423,618) (2,857,078)
Cash flows from investing activities    
Purchase of equipment (115,246)
Prepayment for equity investment (421,974)
Net cash used in investing activities (115,246) (421,974)
Cash flows from financing activities    
Issuance of common stock 3,663,925  
Repayment of convertible notes (306,836)
Proceeds from long-term loans 236,498
Repayment of long-term bank loans (4,396)
Net cash provided by (used in) financing activities 3,663,925 (74,734)
Effect of exchange rate changes on cash and cash equivalents and restricted cash (91,030) 9,419
Net decrease in cash and cash equivalents and restricted cash (2,965,969) (3,344,367)
Cash and cash equivalents and restricted cash    
Beginning 6,565,215 5,001,371
Ending 3,599,246 1,657,004
Cash paid during the year for:    
Interest expense paid 24,348 69,623
Income taxes paid