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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (3,785,298) $ (5,035,059)
Net income/(loss) from discontinued operation 105,480 (154)
Net loss from continuing operations (3,890,778) (5,034,905)
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation 149,803 90,182
Amortization 28,518 28,233
Provision of doubtful debts 17,085 1,973
Share-based payments 893,250
Impairment of short term investment 697,123
Changes in operating assets and liabilities    
Accounts receivable 5,088,179 2,519,226
Notes receivable (1,174,122)
Other receivable (3,107,748) (1,198,592)
Advances to suppliers and other current assets (15,265,659) (2,894,838)
Accounts payable (3,206,986) 28,461
Proceeds from amounts due from related parties, net 97,523 122,329
Repayment of amounts due to related parties, net (112,491) (242,828)
Accrued expenses 715,937 (569,006)
Taxes payable (41,133)
Advances from customers 13,478,555 1,645,086
Net cash used in operating activities – Continued Operations (6,008,062) (5,129,561)
Net cash provided by operating activities – Discontinued Operations 105,480 3
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of property, plant and equipment (128,098) (52,019)
Payment of loan receivable (11,363,000)
Repayment for loan receivable 14,767,621 6,000,000
Purchase of intangible assets (570,351)
Net cash provided by (used in) investing activities from Continued Operations 14,639,523 (5,985,370)
CASH FLOWS FROM FINANCING ACTIVITIES    
Payment of dividends to the non-controlling interest (63,477)
Proceeds from loan payable 4,199,879
Net cash provided by financing activities 4,136,402
Effect of change in exchange rate (1,685,141) (1,263,771)
NET INCREASE (DECREASE) IN CASH AND RESTRICTED CASH 7,051,800 (8,242,297)
Cash and Restricted Cash at Beginning of Year 29,735,170 50,273,517
Cash and Restricted Cash at End of Year 36,786,970 42,031,220
SUPPLEMENTARY DISCLOSURE OF SIGNIFICANT NON-CASH TRANSACTION    
Deferred liabilities 173,764
SUPPLEMENTAL CASH FLOW INFORMATION:    
Interest paid 6,018
Cash paid for income taxes $ 713,501 $ 41,133