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Consolidated Statements of Cash Flows
12 Months Ended
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Cash flows from operating activities      
Net (loss) income $ (771,483) $ 2,308,626 $ 339,968
Adjustments to reconcile net income to cash (used in) provided by operating activities:      
Provision for doubtful accounts 109,972 13,952
Depreciation and amortization 64,657 35,428 9,454
Deferred tax benefit (121,113)
Changes in assets and liabilities      
Accounts receivable 736,207 (525,576) (372,277)
Other receivables (62,734) (20,682) (14,557)
Prepayments 94,360 (15,118) (82,149)
Accounts receivable - related party 341,042 (318,647)
Interest receivable - related party 4,946 (4,767)
Other non-current assets (3,656) (4,301) (29,958)
Accounts payable (587,098) 565,127 244,341
Accruals and other payables 72,918 332,242 93,639
Advance from clients (409,759) 372,025 194,574
Accounts payable - related party (1,317) (14,234) 14,484
Taxes payable (481,984) 405,436 90,214
Operating lease liabilities (39,853) (14,828) 15,134
Net cash (used in) provided by operating activities (1,395,937) 3,774,372 184,220
Cash flows from investing activities      
Purchase of property and equipment (32,199) (131,577) (129,589)
Purchase of intangible asset (13,480) (19,961)
Loan to a shareholder (1,550,192)
Loan repaid by a shareholder 1,550,192
Net cash used in investing activities (45,679) (151,538) (129,589)
Cash flows from financing activities      
Capital contribution from a former shareholder 71,299
Due to related parties 392,100 52,034 30,561
Repayment to related parties (87,928)
Net cash provided by financing activities 304,172 52,034 101,860
Effect of exchange rates on cash (103,772) 49,201 10,406
Net (decrease) increase in cash and restricted cash (1,241,216) 3,724,069 166,897
Cash and restricted cash at beginning of year 3,895,401 171,332 4,435
Cash and restricted cash at end of year 2,654,185 3,895,401 171,332
Cash at end of year 2,654,185 3,816,940 171,332
Restricted cash at end of year 78,461
Cash and restricted cash at end of year 2,654,185 3,895,401 171,332
Supplemental disclosure information      
Cash paid for interest expenses
Cash paid for income tax 480,263 398,044 1,363
Supplemental disclosure of non-cash financing activities:      
Operating lease asset obtained in exchange for operating lease obligation 119,820 627,176 614,432
Borrowings from a related party to pay deferred offering costs 706,313
Deferred offering costs in accrual and other payables $ 600,000