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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income $ 121,662 $ 621,974
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 118,779 15,185
Amortization of right of use assets 1,598
Loss on disposal of property, plant and equipment 1,444
Accrued interest income from loans, net (193,762) (47,807)
Net investment gain (228,104) (88,846)
Provision for credit losses of receivables and advances to suppliers 7,925 71,984
Reversal of allowance for obsolete inventories (4,469)
Deferred income tax 169,778 289,720
Changes in operating assets and liabilities:    
Short-term investments – trading securities 27,750 400,374
Accounts receivable 756,799 (1,081,209)
Accounts receivable – related party 398,622
Advance to suppliers (18,246) 469,979
Deferred offering cost (130,134)
Inventories 21,859 (44,044)
Prepaid expenses and other current assets 47,525 (189,358)
Accounts payable 80,817 (109,021)
Advance from customers (2,899) 73,900
Deferred revenue (98,668) (447,227)
Tax payable 1,737 122,326
Operating lease liabilities (1,598)
Due to related parties 571
Accrued expenses and other current liabilities (58,829) (123,095)
Net cash provided by operating activities 754,123 200,869
Cash flows from investing activities:    
Advance payment for software development (333,005) (346,635)
Loans to third parties (2,618,726) (2,986,321)
Repayment of third-party loans 2,443,523 600,000
Prepayment for office renovation (123,597)
Purchases of property, plant and equipment (9,865) (140,536)
Purchases of held-to-maturity investments (9,500,000) (8,000,000)
Deposit for possible acquisition (1,010,041)
Net cash used in investing activities (11,028,114) (10,997,089)
Cash flows from financing activities:    
Advance from private placement 8,200,000
Proceeds from issuance of ordinary shares 15,142,902
Net cash provided by financing activities 8,200,000 15,142,902
Effect of exchange rate changes on cash (21,488) (54,572)
Net (decrease) increase in cash (2,095,479) 4,292,110
Cash at the beginning of period 9,311,537 1,203,160
Cash at the end of period 7,216,058 5,495,270
Supplemental disclosures of cash flow information:    
Cash paid for income taxes 79,149 21,104
Cash paid for interest 50,912 80,159
Non-cash transactions:    
Deferred offering cost $ 1,049,367