XML 20 R7.htm IDEA: XBRL DOCUMENT v3.22.2.2
Condensed Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net (loss) income $ (586,939) $ 1,361,939
Net (income) loss from discontinued operations   17,607
Net (loss) income from continuing operations (586,939) 1,379,546
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Changes in allowances - accounts receivable (183) 217,244
Changes in allowances - advances to suppliers 362,030 (575,802)
Changes in allowances - inventories   (19,180)
Depreciation and amortization 36,339 32,122
Non-cash lease expenses (163,301)  
Gain on short-term investments (25,809)  
Loss from disposal of a subsidiary 15,757  
Share-based compensation 2,000,000 805,410
Changes in operating assets and liabilities:    
Accounts receivable 5,705,789 (3,338,643)
Advances to suppliers (3,176,809) 11,849,581
Inventories, net (3,909,673) (102,143)
Notes receivable (3,931,869)  
Other current assets 9,203,508 39,397
Accounts payable 663,072 65,948
Operating lease liabilities 218,136  
Other current liabilities (35,704) (636,270)
Net cash provided by operating activities from continuing operations 6,374,344 9,717,210
Net cash provided by operating activities from discontinued operations   8,049
Net cash provided by operating activities 6,374,344 9,725,259
Cash flows from investing activities    
Purchase of property, plant and equipment (1,094)  
Purchase of intangible assets   (1,353)
Short-term deposits (36,487,740) (2,751,873)
Acquisition of subsidiaries (11,009,232)  
Other receivable (7,863,737)  
Proceeds from disposal of a subsidiary 2,752,278  
Purchase of long-term investments (157,275)  
Purchase of short-term investments (157,275)  
Net cash used in investing activities from continuing operations (52,924,075) (2,753,226)
Net cash used in investing activities from discontinued operations   (14,745)
Net cash used in investing activities (52,924,075) (2,767,971)
Cash flows from financing activities    
Net proceeds from stock issuance 6,000,000 6,709,040
Repayments of bank loans (46,808) (168,170)
Repayment of advances from related parties (57,673)  
Proceeds from advances from related parties   302,793
Net cash provided by financing activities from continuing operations 5,895,519 6,843,663
Net cash provided by financing activities 5,895,519 6,843,663
Effect of exchange rate changes on cash and restricted cash (3,335,361) 78,715
Net (decrease) increase in cash and restricted cash (43,989,573) 13,879,666
Cash and restricted cash, beginning of year 59,262,514 2,165,151
Cash and restricted cash, end of year 15,272,941 16,044,817
Cash from discontinued operations, Ending   62,099
Reconciliation of cash and restricted cash    
Cash, beginning of year 59,251,904 481,906
Restricted cash, beginning of year   1,617,000
Cash from continuing operations, Beginning 59,251,904 2,098,906
Cash from discontinued operations, Beginning 10,610 66,245
Cash and restricted cash, beginning of year 59,262,514 2,165,151
Cash, end of year 15,272,941 14,303,790
Restricted cash, end of year   1,678,928
Cash from continuing operations, Ending 15,272,941 15,982,718
Cash and restricted cash, end of year 15,272,941 16,044,817
Supplemental disclosure information:    
Income taxes paid 5,626 327
Interest paid 85,769 46,922
Non-cash financing activities    
Right of use assets obtained in exchange for operating lease obligations $ 401,615 $ 836,994