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Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities    
Net loss $ (937,462) $ (511,621)
Adjustments to reconcile net (loss) income to cash (used in) provided by operating activities:    
Depreciation and amortization 157,912 220,129
Amortization of debt discounts 0 645,576
Share-based compensation 1,161,596 0
Income from settlement of Convertible Notes (250,000) 0
Changes in assets and liabilities    
Accounts receivable 82,315 478,162
Other receivables 71,715 31,859
Prepayments (221,259) (349,617)
Inventory (400,363) (1,388,636)
Prepaid expenses 0 0
Right of use assets 15,510 13,623
Deferred tax asset 0 0
Accounts payable (149,066) (547,729)
Accruals and other payables 257,378 380,199
Unearned revenue 468,550 (10)
Payroll payable 24,813 47,159
Taxes payable (94,521) (68,582)
Accrued interest 4,066 0
Operating leases (15,510) (13,623)
Other assets 0 138
Net cash provided or (used in) operating activities 175,674 (1,062,973)
Cash flows from investing activities    
Purchase of equipment 0 (7,593)
(Payments for ) or transfer from construction (326,829) 0
Net cash used in investing activities (326,829) (7,593)
Cash flows from financing activities    
Repayment of bank Loan (1,218,294) (294,477)
Repayment of secured borrowing arrangement (599,664) 0
Settlement of convertible notes (500,000)  
Amounts received from or related party 1,428,400 355,535
Net cash (used in) provided by financing activities (889,558) 58,058
Effect of exchange rates on cash 159,585 789,049
Net change in cash and cash equivalents (881,128) (223,459)
Cash at beginning of year 1,105,214 251,100
Cash at end of period 224,086 27,641
Supplemental of cash flow information    
Cash paid for interest 101,047 116,638
Cash paid for income taxes $ 2,799 $ 5,769