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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2023
Mar. 31, 2023
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES              
Net loss $ (23,415) $ (537,859) $ 88,481 $ (303,375) $ (561,274) $ (214,894)  
Adjustments to reconcile net loss to net cash used in operating activities              
Depreciation 111,568   43,199   199,439 78,759  
Amortization         1,265,425 766,856  
Share-based compensation         328,090 272,556  
Provision for credit losses         (6,523) 19,790 $ 78,640
Provision for defective return         554,148 (316,132) (851,554)
Foreign exchange transaction loss         (227,952) 23,214  
Deferred income tax benefit         (614,835) (90,261)  
Changes in operating assets and liabilities              
Accounts receivable         (1,941,477) 285,890  
Inventories         (2,880,929) 3,458,238  
Prepayments and other current assets         1,476,612 (1,084,906)  
Prepayments and other receivables - related parties         (6,080,824) (2,998,615)  
Other noncurrent assets         (496,227) 262,563  
Income taxes         (412,085) 109,111  
Accounts payable         2,785,664 (1,912,180)  
Accounts payable-related parties         280,955 1,218,657  
Operating lease liabilities         (1,010,637) (627,689)  
Accrued expenses and other current liabilities         214,652 237,849  
Net cash used in operating activities         (7,127,778) (511,193)  
CASH FLOWS FROM INVESTING ACTIVITIES              
Purchase of property and equipment         (1,189,655) (235,941)  
Purchase of intangible assets         (669,764) (496,262)  
Net cash used in investing activities         (1,859,419) (732,203)  
CASH FLOWS FROM FINANCING ACTIVITIES              
Net proceeds from (repayments of) revolving credit facility         2,733,024 (1,931,372)  
Net cash provided by (used in) financing activities         2,733,024 (1,931,372)  
EFFECT OF EXCHANGE RATE FLUCTUATION ON CASH         (215,976) 2,102  
NET CHANGES IN CASH         (6,470,149) (3,172,666)  
CASH, BEGINNING OF PERIOD   $ 7,777,241   $ 10,067,428 7,777,241 10,067,428 10,067,428
CASH, END OF PERIOD $ 1,307,092   $ 6,894,762   1,307,092 6,894,762 $ 7,777,241
SUPPLEMENTAL CASH FLOW INFORMATION              
Cash paid during the period for interest         (520,370) (544,026)  
Cash paid during the period for income taxes         (746,120) (205,075)  
NON-CASH INVESTING AND FINANCING ACTIVITIES              
New addition on Right-of-use assets           $ (7,616,898)  
Acquisition of intangible asset partially through prior period advanced payment         $ (1,241,664)