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Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended
--- | ---
Dec. 31, 2021 | Dec. 31, 2020
Statement of Cash Flows [Abstract] |  |
Net income (loss) | $ (14,205,925) | $ 88,930,311
Net income from discontinued operation | (2,388,900) | 119,206,123
Net loss from continuing operations | (11,817,025) | (30,275,812)
Adjustments to reconcile net income to net cash provided by operating activities |  |
Depreciation | 57,563 | 1,461
Amortization | 5,340 | 80,733
Provision for doubtful debts | (1,823) | 3,569,952
Impairment of intangible assets |  | 1,759,059
Impairment of intangible goodwill | 781,733 |
Impairment of long term investment |  | 12,250,000
Share-based payments | 6,381,180 | 7,131,000
Loss on debt settlement and conversion |  | 2,599,304
Interest expenses related to convertible note |  | 99,858
Changes in operating assets and liabilities |  |
Accounts receivable | (7,693,914) |
Inventory |  | 3,594
Other receivables | (1,815,109) | (249,073)
Advances to suppliers and other current assets | (2,905,416) | (24,583)
Accounts payable | 3 | (1,215)
Accrued expenses | (954,368) | 835,986
Advances from customers | (26,069) | (319,359)
Proceeds from amounts due from related parties, net | 438,240 | 599,012
Repayment of amounts due to related parties, net | (1,187,875) | (35,868)
Net Cash Used in Operating Activities – Continued Operations | (18,737,540) | (1,975,951)
Net Cash Used in Operating Activities – Discontinued Operations | 1,363,946 | (5,249,329)
CASH FLOWS FROM INVESTING ACTIVITIES |  |
Additions to property, plant and equipment | (3,167,126) | (2,944)
Additions to loan receivables | (6,000,000) |
Payment for available-for-sale securities | (2,191,294) |
Acquisition of a subsidiary, net of cash | 275,623 |
Disposal of a subsidiary, net of cash | (59,255) |
Purchase of intangible assets | (38,935) |
Net Cash Used in Investing Activities from Continued Operations | (11,180,987) | (2,944)
CASH FLOWS FROM FINANCING ACTIVITIES |  |
Proceeds from the issuance of common stock, net of issuance costs | 69,430,439 | 10,256,309
Proceeds from loan payable | 1,007,517 |
Repayment of loans |  | 74,481
Proceeds from secured convertible promissory note |  | 6,086,535
Repayment of convertible note payables | (1,163,146) |
Net cash provided by financing activities | 69,274,810 | 16,417,325
Effect of change in exchange rate | 127,976 | 75,081
NET INCREASE IN CASH AND CASH EQUIVALENTS | 40,848,205 | 9,264,182
Cash and cash equivalents, beginning of period | 9,425,312 | 526,844
Cash and cash equivalents, end of period | 50,273,517 | 9,791,026
Less: Cash and cash equivalents from the discontinued operations, end of period |  | (365,714)
Cash and cash equivalents, from the continuing operations end of period | 50,273,517 | 9,425,312
SUPPLEMENTARY DISCLOSURE OF SIGNIFICANT NON-CASH TRANSACTION |  |
Issuance of common stocks (Note 10) | 11,220,779 |
Deferred liabilities (Note 10) | 7,124,304 |
Debt settlement by issuance of common stock |  | 4,961,000
Issuance of common stocks for conversion of debts |  | $ 700,236

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