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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities    
Net loss $ (7,580,535) $ (11,811,472)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 20,949 17,364
Stock-based compensation for non-employees 1,409,969 5,143,483
Provision for doubtful accounts 38,500 521,955
Other non-cash income and expenses 1,422,362 30,564
Deferred tax expense (35,719) (31,247)
Changes in operating assets and liabilities:    
Decrease (increase) in accounts receivable 191,265 (31,909)
Decrease (increase) in prepaid expenses and security deposits 27,924 243,065
Decrease (increase) in tenant security deposit (2,300)
Decrease (increase) in due from related parties 189,755 (983,707)
Decrease in inventory 5,486
Increase (decrease) in accrued expenses and other current liabilities 648,626 (99,306)
Increase (decrease) in contract liabilities 68,516
Increase (decrease) in due to related parties (155,697) 58,402
Net cash used in operating activities (3,756,385) (6,937,322)
Cash flows from investing activities    
Purchase of equipment (21,201) (119,603)
Increase in prepayment for long-term investments (493,158) (1,518,793)
Net cash used in investing activities (514,359) (1,638,396)
Cash flows from financing activities    
Issuance of common stock 1,050,000 3,917,425
Proceeds from issuance of warrant 2,429,028
Proceeds from convertible notes payable – third parties 1,352,512
Proceeds from short-term loan 350,000
Repayment of short-term bank loans (1,000,000)
Net cash provided by financing activities 3,831,540 4,267,425
Effect of exchange rate changes on cash and cash equivalents and restricted cash 168,413 (286,775)
Net decrease in cash and cash equivalents and restricted cash (270,791) (4,595,068)
Cash and cash equivalents and restricted cash    
Beginning 1,391,728 6,565,215
Ending 1,120,937 1,970,147
Supplemental disclosure of cash flows    
Interest expense paid 27,525 161,741
Income taxes paid $ 1,600