XML 28 R6.htm IDEA: XBRL DOCUMENT v3.25.2
CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net loss $ (2,100,495) $ (2,868,157) $ (16,186,085)
Net profit/(loss) from discontinued operations 18,570,629 (13,650,763)
Net loss from continuing operations (2,100,495) (21,438,786) (2,535,322)
Adjustments to reconcile net loss to net cash provided by operating activities:      
 Depreciation and amortization 75,985
 Right-of-use assets depreciation 37,025
(Gain)/Loss of investment (84,634) 387,910
Interest income (169,726)
Allowance for expected credit losses 19,520,843
Imputed interest expense 546,525 736,941 1,250,000
Stock-base compensations for consulting service 10,133
Change in operating assets and liabilities      
Accounts receivable (83,703) (180,000)
Other receivables 4,892,315 (323,235)
Prepayments (26,539) (10,367) 20,000
Accounts payable 95,838
Other payables and accrued liabilities 55,226 61,846
Contract liabilities (72,766)
Taxes payable 38,386 583
Lease liabilities (36,183)
Due from discontinued operations (3,618,253) (2,542,000)
Net cash provided by (used in) operating activities from continuing operations 3,251,888 (5,335,062) (3,409,279)
Net cash provided by (used in) operating activities from discontinued operations 2,615,101 (1,814,592)
Net cash provided by (used in) operating activities 3,251,888 (2,719,961) (5,223,871)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Cash deposit in escrow account (5,114,000) (47,387,762) (4,800,000)
Cash received from escrow account 5,000,000
Loan to third party (7,500,000)
Cash proceeds from acquisition Pure Tech 4,212,977
Acquisitions of property, plant and equipment (768,803)
Long-term investment in equity (100,060)
Net cash used in investing activities from continuing operations (4,269,886) (47,387,762) (4,800,000)
Net cash provided by (used in) investing activities from discontinued operations 14,054 (470,805)
Net cash used in investing activities (4,269,886) (47,373,708) (5,270,805)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net proceeds from issuance of common stock under F3 5,697,396 49,522,314
Net proceeds from issuance of convertible bonds 2,947,762 5,000,000
Net proceeds from issuance of PIPEs 291,856
Refunds from escrow 96,932 503,068
Net cash provided by financing activities from continuing operations 5,697,396 52,567,008 5,794,924
Net cash used in financing activities from discontinued operations (2,997,269) (255,827)
Net cash provided by financing activities 5,697,396 49,569,739 5,539,097
EFFECT OF EXCHANGE RATE CHANGES (38,332) (28,715) (299,017)
NET CHANGE IN CASH 4,641,066 (552,645) (5,254,596)
CASH, beginning of period 52,659 1,038,819 6,293,415
CASH, end of period 4,693,725 486,174 1,038,819
LESS: CASH, CASH EQUIVALENTS AND RESTRICTED CASH FROM DISCONTINUED OPERATIONS 433,515 829,258
CASH, CASH EQUIVALENTS AND RESTRICTED CASH FROM CONTINUING OPERATIONS 4,693,725 52,659 209,561
NON-CASH INVESTING AND FINANCING ACTIVITIES:      
Third parties paid for consideration for Pure Tech 59,784,723
Escrow account transit to Pure Media before acquiring 510,000
Acquisition of Pure Tech by issuing convertible promissory notes $ 5,953,095