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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ 117,206,696 $ (1,678,798) [1]
Adjustments to reconcile net loss to net cash provided by operating activities    
Minority interest 350,142
Depreciation and amortization 428  
Bad debt 4,203,054 439,610
Impairment loss 387,836
Gain on sale of discontinued operations (123,688,874)
Share based compensation 1,191,000
Changes in operating assets and liabilities    
Accounts receivable 4,954 (10,422)
Other receivable (139,094) 4,706,236
Advances to suppliers and other current assets (16,851) (124,500)
Inventories 1,565 (104,494)
Accounts payable (4,089) 139,700
Other payable (44,241)
Accrued expenses 83,118 (3,952,377)
Advances from customers (147,120) 134,551
Net cash (used in) provided by operating activities (1,349,454) 287,485
CASH FLOWS FROM INVESTING ACTIVITIES    
Additions to property, plant and equipment
Net cash used in investing activities
CASH FLOWS FROM FINANCING ACTIVITIES    
Changes in financing amount due to / from related party 29,997 499,992
Proceeds from secured convertible promissory note 503,270
Proceeds from sale of discontinued operations 85,714
Net cash provided by financing activities 618,981 499,992
Effect of change in exchange rate 618,081 (526,783)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (112,392) 260,694
Cash and cash equivalents, beginning of year 347,750 253,804
Cash and cash equivalents, end of year 235,358 514,498
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Cash paid for interest
Cash paid for income taxes
SUPPLEMENTARY DISCLOSURE OF SIGNIFICANT NON-CASH TRANSACTION    
Conversion of convertible notes $ 435,000
[1] Reclassification- certain reclassifications have been made to the financial statements for the period ending March 31, 2019 to conform to the presentation for the period ending March 31, 2020, with no effect on previously reported net income (loss).