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Consolidated Statements of Cash Flows - USD ($)
6 Months Ended 12 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities          
Net loss $ (2,932,213) $ (3,563,138) $ (6,951,698) $ (1,673,735) $ 145,723
Net (loss) income     (6,951,698) (1,673,735) 140,988
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities          
Income from accounts payable written-off (146,662) (146,662)
Realized actuarial gain (46,805) (46,805)
Write down of other assets     1,972
Depreciation, depletion and amortization 282,948 287,760 698,851 876,676 1,156,494
Amortization of deferred charges 40,094 29,939 72,756 57,418 41,216
Share-based compensation 651,852 1,549,707 3,007,081 247,817
Issuance of shares for compensation of non-employee services     155,556
Issuance of ordinary shares for service fee settlement 274,400 155,555      
Changes in operating assets and liabilities          
Accounts receivable 472,897 (87,570) (1,046,645) 409,599 244,790
Other receivables     884,849
Due from related parties – current     107,709
Other assets – current (692,264) (300,449) (287,352) (77,419) 84,207
Other assets – non current (84,368) 7,307 (70,509) (184,344) (48,784)
Accounts payable (58,912) (578,987) (473,498) (109,428) (180,777)
Other current liabilities 2,063 (12,452) (15,129) 11,296 (133)
Accrued expenses 463,512 (326,350) (147,015) 25,373 (52,769)
Taxes payable (55,838) (11,984) (3,680) 4,036 (155,554)
Provision of post-employment benefit     68,701 (27,083) (303,989)
Net cash (used in) provided by operating activities (1,635,829) (3,044,129) (5,186,048) (439,794) 1,920,219
Cash flows from investing activities          
Cash paid for short-term investment (307,500)      
Cash paid for oil and gas property (892,183) (165,994)      
Oil and gas exploration and development costs     (357,333) (545,579) (228,389)
Purchase of property and equipment     (2,168)
Deferred charges     (500,000) (783,123)
Repayment from a related party     160,100
Net cash used in investing activities (1,199,683) (165,994) (357,333) (1,045,579) (853,580)
Cash flows from financing activities          
(Repayment of) Proceeds from bank loan (125,289) (125,289) 174 (746,398)
Proceeds from IPO     13,650,007
Payment for IPO cost (offering cost)     (525,931) (443,315)
Loan from related parties     2,360,000
Repayment of Long term loan to a third party     (1,000,000)
Net cash (used in) provided by financing activities (125,289) (1,125,289) 13,124,250 1,170,287
Effect of exchange rate changes on cash      
Net change in cash and cash equivalents, and restricted cash (2,835,512) (3,335,412) (6,668,670) 11,638,877 2,236,926
Cash and cash equivalents, and restricted cash at beginning of year 9,403,499 16,072,169 16,072,169 4,433,292 2,196,366
Cash and cash equivalents, and restricted cash at end of year 6,567,987 12,736,757 9,403,499 16,072,169 4,433,292
Cash paid for:          
Interest 9,437 5,787 10,891 11,991 19,614
Income tax    
Non-cash investing and financing activities          
Acquisition of asset retirement obligation 43,019      
Settlement of asset retirement obligation by accounts receivable $ 265,363      
Shareholder debts converted to capital contribution     24,298,700
Buyout of non-controlling interests     163,401
NCI subscription receivables transferred to the Company     22,955
Asset retirement obligations     $ 364,272 $ 118,640 $ 89,844