XML 16 R6.htm IDEA: XBRL DOCUMENT v3.23.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (6,234,991) $ (8,668,956)
Net income/(loss) from discontinued operation 105,480 (154)
Net loss from continuing operations (6,340,471) (8,668,802)
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation 223,687 137,187
Amortization 42,776 45,699
Provision of doubtful debts 20,353 1,947
Share-based payments 2,172,990
Impairment of short term investment 3,872 926,086
Changes in operating assets and liabilities    
Accounts receivable 4,571,019 6,665,006
Notes receivable  
Other receivable (3,258,809) (1,079,100)
Advances to suppliers and other current assets 2,458,159 (5,502,062)
Accounts payable (3,251,326) 34,679
Accrued expenses 276,952 288,761
Taxes payable (41,093)
Advances from customers (1,170,574) 3,239,233
Net cash used in operating activities – Continued Operations (6,424,362) (1,779,469)
Net cash provided by operating activities – Discontinued Operations 105,480 0
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of property, plant and equipment (521,239) (59,298)
Disposal of property and equipment 32,608  
Payment of loan receivable (19,810,956)
Repayment for loan receivable 14,130,632 6,000,000
Purchase of intangible assets (570,351)
Net cash provided by (used in) investing activities from Continued Operations 13,642,001 (14,440,605)
CASH FLOWS FROM FINANCING ACTIVITIES    
Payment of dividends to the non-controlling interest (63,477)
Proceeds from amounts due from related parties, net 249,068 452,564
Repayment of amounts due to related parties, net (270,714) (904,673)
Notes payable (2,893,184) 2,816,981
Proceeds from loan payable (188,215)
Net cash (used in) provided by financing activities (2,914,830) 2,113,180
Effect of change in exchange rate (739,327) (3,201,964)
NET INCREASE (DECREASE) IN CASH AND RESTRICTED CASH 3,668,962 (17,308,858)
Cash and Restricted Cash at Beginning of Year 29,735,170 50,273,517
Cash and Restricted Cash at End of Year 33,404,132 32,964,659
   
SUPPLEMENTARY DISCLOSURE OF SIGNIFICANT NON-CASH TRANSACTION 33,404,132 32,964,659
Deferred liabilities 263,863
SUPPLEMENTAL CASH FLOW INFORMATION:    
Interest paid 56,610
Cash paid for income taxes $ 67,740 $ 9,370