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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities    
Net income $ 2,793,249 $ 2,562,513
Adjustments to reconcile net income to cash provided by operating activities    
Depreciation and amortization 2,433 2,622
Amortization of discounts and issuance cost of the notes 6,941 12,655
Gain (loss) on changes in fair value of common stock purchase warrants liability 97,602 (160,443)
Changes in operating assets and liabilities:    
Accounts receivable (4,004,967) (6,350,920)
Amounts due from related parties (1,076)
Inventories 254,727 (11,620)
Prepaid expenses and other current assets 307,380 741,854
Accounts payable 702,052 429,214
Amounts due to related parties (1,344) (53,472)
Income tax payable 1,383,069 933,794
Accrued expenses and other current liabilities 1,176,473 456,056
Net cash provided by (used in) operating activities 2,716,539 (1,437,747)
Cash flows from investing activities    
Net cash provided by investing activities
Cash flows from financing activities    
Proceeds from stock issuance of private placement 40,000,000
Proceeds from interest-free advances from a third party 86,735
Repayments of convertible promissory notes payable (35,000)
Net cash used in financing activities 40,051,735
Effect of changes of foreign exchange rates on cash (760,531) 94,476
Net increase in cash 42,007,743 (1,343,271)
Cash, beginning of period 51,250,505 46,163,704
Cash, end of period 93,258,248 44,820,433
Supplemental disclosures of cash flow information    
Income tax paid $ 22,330 $ 1,001,305