XML 20 R6.htm IDEA: XBRL DOCUMENT v3.20.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (483,310) $ (217,173)
Adjustments to Reconcile Net Loss to Net Cash Used In Operating Activities:    
Depreciation and amortization expense 61,760 56,373
Amortization of right-of-use assets 38,248 69,632
Amortization of debt discounts 29,509 229,713
Lease expense 53,600
Interest on finance leases 2,301
(Gain) loss on change in fair value of equity investments 22,172 (606,125)
Changes in Assets and Liabilities:    
Accounts receivable, net (3,668,384) (816,540)
Accounts receivable - related party 1,180,760 (269,447)
Inventory 59,486 452,208
Prepaid expenses and other current assets 17,398 290,663
Prepaid expenses and other current assets - related party 3,596,200 (31,767)
Other assets 12,683 8,551
Accounts payable and accrued expenses (1,728,192) 349,271
Accounts payable and accrued expenses - related party (205,140) (10,884)
Customer advances (76,328) 50,866
Other current liabilities (10,603) (41,426)
Lease liabilities (41,542) (27,417)
Taxes payable (3,307)
Other liabilities (2,050) 29,569
NET CASH USED IN OPERATING ACTIVITIES (1,144,739) (483,933)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of fixed assets (54,223) (462,545)
Proceeds from sale of investments 333,014
NET CASH USED IN INVESTING ACTIVITIES (54,223) (129,531)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payment of convertible note payable (100,000) (365,513)
Proceeds from convertible note payable
Payment of related party note payable (3,305) (14,035)
Proceeds from note payable 1,310,000
Payment of related party loan (49,572) (38,175)
Proceeds from related party loan 516,819
Payment of lines of credit (3,344,072) (1,875,720)
Proceeds from lines of credit 4,079,719 2,518,913
Payments of finance lease liability (19,886) (8,121)
Purchase of treasury stock (71,541)
NET CASH PROVIDED BY FINANCING ACTIVITIES 2,389,703 145,808
Effect of exchange rate changes on cash (244,397) (87,031)
NET CHANGE IN CASH 946,344 (554,687)
CASH AT BEGINNING OF PERIOD 38,537 864,343
CASH AT END OF PERIOD 984,881 309,656
Cash paid during the period:    
Interest 124,178 119,770
Income tax 11,605
Supplemental Disclosure of Non-Cash Investing and Financing Activities    
Cancellation of pre-delivery shares issued for conversion of convertible notes payable $ 574