XML 97 R7.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended 6 Months Ended 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Dec. 31, 2019
Dec. 31, 2018
Jun. 30, 2019
Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:            
Net income (loss) $ (231,750) $ 71,215 $ (338,931) $ (142,446) $ (519,642) $ (130,274)
Adjustments to reconcile net income (loss) to net cash used in operating activities:            
Unrealized holding loss on marketable securities 18,538 68,391
Loss from equity investment 26,085 98,140 124,225 30,155
Gain on deemed disposal of shares in Investee Company (16,509) (16,509)
Impairment in cost of investment     366,834
Deferred tax expenses     5,334
Changes in operating assets and liabilities:            
Accounts receivable - related party 285 (186,536) (85,602) (433,338)
Amount due from a related party (2,200) (2,210)
Prepayments and deposits (34,593) (100,029) 229,638 (245,128) (233,394) (264,941)
Accounts payable (2,803) 1,323 2,778
Accounts payable - related party     (35,086) 35,145
Customer deposits   (140,322) 217,743
Income taxes payable (12,299) 6,965
Other payables and accrued liabilities 19,892 952 44,867 (11,865) 11,825 11,749
Net cash used in operating activities (230,431) (358,320) (113,945) (76,591) (667,064) (347,977)
CASH FLOWS FROM INVESTING ACTIVITIES:            
Proceeds from sale of non-marketable securities to a related party 70,173        
Investment in Investee Company     (862,490)
Investment in marketable securities     (1,000) (1,000) (500,000)
Investment in non-marketable securities     (1,500)
Net cash provided by investing activities 70,173 (1,000) (2,500) (1,362,490)
CASH FLOWS FROM FINANCING ACTIVITIES:            
Increase in share capital     493
Proceeds from sale of common stock     2,925,207
Amount due to a related party     (745) 745
Amount due to a director     (5,318) 3,822
Net cash (used in) provided by financing activities     (745) (5,318) 2,930,267
EFFECT OF EXCHANGE RATE ON CASH AND CASH EQUIVALENTS 4,008 (3,197) 815 (2) 1,214 (1,293)
DECREASE IN CASH AND CASH EQUIVALENTS (156,250) (361,517) (113,130) (78,338) (673,668) 1,218,507
CASH AND CASH EQUIVALENTS, beginning of balance 2,744,457 3,452,917 2,857,587 3,531,255 3,531,255 2,312,748
CASH AND CASH EQUIVALENTS, end of balance 2,588,207 3,091,400 2,744,457 3,452,917 2,857,587 3,531,255
SUPPLEMENTAL CASH FLOWS INFORMATION            
Income taxes paid
Interest paid
SUPPLEMENTAL NON-CASH FLOWS INFORMATION            
Amount transferred from investment in investee company to investment in non-marketable securities 724,619 $ 724,619
Sale of the non-marketable securities to a director in exchange for a loan receivable $ 730,637