XML 17 R6.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities    
Net loss $ (5,253,708) $ (4,212,455)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 14,591 13,490
Stock-based compensation 2,957,736 592,229
Provision for doubtful accounts 38,500
Loss on equity method investment 79,057
Other non-cash expenses 915,546 122,784
Deferred tax expense 81,695
Changes in operating assets and liabilities:    
Decrease (increase) in accounts receivable 181,565
Decrease (increase) in prepaid expenses and security deposits 7,245 720
Decrease (increase) in due from related parties (518,615) (156,823)
Decrease (increase) in tenant security deposit 6,000 (2,300)
Increase (decrease) in accrued expenses and other current liabilities 264,670 531,778
Increase (decrease) in contract liabilities 68,516
Increase (decrease) in taxes payables (112,946)  
Increase (decrease) in due to related parties 153,166 342,841
Net cash used in operating activities (1,487,258) (2,397,460)
Cash flows from investing activities    
Increase in prepayment for long-term investments (440,575)
Net cash provided by financing activities (440,575)
Cash flows from financing activities    
Proceeds from issuance of warrant 394,071
Proceeds from exercise of warrant 737,500
Repayment of short-term bank loans (1,000,000)
Proceeds from convertible notes payable - third parties 282,095 3,175,000
Proceeds from common stock subscription 131,040
Net cash provided by financing activities 1,544,706 2,175,000
Effect of exchange rate changes on cash and cash equivalents and restricted cash (31,459) 13,496
Net increase (decrease) in cash and cash equivalents and restricted cash 25,989 (649,539)
Cash and cash equivalents and restricted cash    
Beginning 716,780 1,391,728
Ending 742,769 742,189
Supplemental disclosure of cash flows    
Interest expense paid 13,559 21,532
Income tax paid 25,946  
Non-cash financing and investing activities    
Issuance of common stock for conversion of debt $ 811,174