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Condensed Consolidated Statements of Cash Flows (Unaudited)
6 Months Ended
Jun. 30, 2024
USD ($)
Jun. 30, 2023
USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (5,122,635) $ (3,785,298)
Net income (loss) from discontinued operation 645,437 (107,964)
Net loss from continuing operations (5,768,072) (3,677,334)
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation 139,632 141,985
Amortization 28,518 28,518
Provision of doubtful debts 559,360 17,085
Investment loss 9,337
Interest expenses related to convertible note 43,880
Changes in operating assets and liabilities    
Accounts receivable 769,772 5,097,202
Notes receivable (645,451)
Other receivable 9,097,414 (2,714,408)
Advances to suppliers and other current assets (16,688,619) (15,265,881)
Operating lease assets and liabilities 3,452
Accounts payable (431,582) (3,206,643)
Accrued expenses and other payables 1,017,504 (858,732)
Advances from customers (74,417) 13,478,603
Net cash used in operating activities from continued operations (11,939,272) (6,959,605)
Net cash provided in operating activities from discontinued operations 425,874 1,071,947
CASH FLOWS FROM INVESTING ACTIVITIES    
Additions to property, plant and equipment (354,837) (128,098)
Disposal of property and equipment 191,766
Repayment for loan receivable 14,767,621
Debt investment (701,577)
Payment for short term investment 946,669
Net cash provided by investing activities from continued operations 82,021 14,639,523
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from the issuance of common stock, net of issuance costs 2,580,643
Proceeds from amounts due from related parties, net 97,523
Repayment of amounts due to related parties, net (238,858) (112,447)
Net cash provided by (used in) financing activities from continued operations 2,341,785 (14,924)
Effect of change in exchange rate (101,944) (1,598,206)
NET (DECREASE) INCREASE IN CASH AND RESTRICTED CASH (9,191,536) 7,138,735
Cash and cash equivalents, from the continuing operations beginning of year 19,016,198 29,648,236
Less: Cash and cash equivalents from the discontinued operations, end of year (50,585)
Cash and cash equivalents, from the continuing operations end of year 9,824,662 36,736,386
SUPPLEMENTARY DISCLOSURE OF SIGNIFICANT NON-CASH TRANSACTION    
Issuance of common stocks (Note 20) 2,580,644
SUPPLEMENTAL CASH FLOW INFORMATION    
Cash paid for income taxes $ 6,208 $ 713,501