XML 16 R6.htm IDEA: XBRL DOCUMENT v3.22.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (298,446) $ (333,650)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 18,707 19,170
Amortization 458 510
Amortization of operating right-of-use assets 39,079 37,606
Unrealized holding loss (gain) on marketable securities 17,670 (75,296)
Deferred tax provision (benefit) 7,832 (20,604)
Inventories write-down 36,809
Changes in operating assets and liabilities:    
Accounts receivables (3,363) 172,739
Amount due from related parties 2,207
Inventories (4,429) 9,218
Prepaid taxes 319,946 174,705
Prepayments and deposits 53,176 4,762
Accounts payable (93)
Accounts payable – a related party 8,281
Customer deposits (173,543) (50,353)
Operating lease liabilities (38,987) (37,074)
Other payables and accrued liabilities (119,291) (67,839)
Other payable – a related party 19,341
Income tax payable 333
Net cash used in operating activities (151,122) (129,297)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Deferred offering costs (6,423)
Net cash used in financing activities (6,423)
EFFECT OF EXCHANGE RATE ON CASH AND CASH EQUIVALENTS (4,835) (27,322)
DECREASE IN CASH AND CASH EQUIVALENTS (155,957) (163,042)
CASH AND CASH EQUIVALENTS, beginning of period 2,597,848 3,517,600
CASH AND CASH EQUIVALENTS, end of period 2,441,891 3,354,558
SUPPLEMENTAL CASH FLOWS INFORMATION    
Income taxes paid $ 39,317 $ 128,963