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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities    
Net loss $ (4,212,455) $ (8,034,948)
Depreciation 13,490 10,902
Stock-based compensation for non-employees 592,229 4,917,743
Provision for doubtful accounts 38,500
Other non-cash income and expenses 122,784 18,831
Deferred tax expense 81,695 (170,118)
Decrease (increase) in accounts receivable 181,565 (8,782)
Decrease (increase) in prepaid expenses and security deposits 720 (784,714)
Decrease (increase) in tenant security deposit (2,300)
Decrease (increase) in due from related parties (156,823) (2,435,935)
Increase (decrease) in inventory 2,473
Increase (decrease) in accounts payable 2,085
Increase (decrease) in accrued expenses and other current liabilities 531,778 (21,915)
Increase (decrease) in contract liabilities 68,516
Increase (decrease) in due to related parties 342,841 80,760
Net cash used in operating activities (2,397,460) (6,423,618)
Cash flows from investing activities    
Purchase of equipment (115,246)
Increase in prepayment for long-term investments (440,575)
Net cash used in investing activities (440,575) (115,246)
Cash flows from financing activities    
Issuance of common stock 3,663,925
Proceeds from convertible notes payable – third parties 3,175,000
Repayment of short-term bank loans (1,000,000)
Net cash provided by financing activities 2,175,000 3,663,925
Effect of exchange rate changes on cash and cash equivalents and restricted cash 13,496 (91,030)
Net decrease in cash and cash equivalents and restricted cash (649,539) (2,965,969)
Cash and cash equivalents and restricted cash    
Beginning 1,391,728 6,565,215
Ending 742,189 3,599,246
Supplemental disclosure of cash flows    
Interest expense paid 21,532 24,348
Income taxes paid