XML 26 R7.htm IDEA: XBRL DOCUMENT v3.23.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash Flows from Operating Activities:    
Net loss $ (3,972,841) $ (3,399,476)
Depreciation and amortization 2,700,533 3,087,820
Bad debt benefit (93,851) (255,215)
Stock and stock option compensation 78,270 15,243
Original issue discount accretion 250,000
Changes in assets and liabilities:    
Trade accounts and other receivables (170,194) (545,534)
Advances to suppliers (459,959) 1,798
Inventory 689,104 1,011,905
Trade accounts payable (187,734) (332,779)
Other payables and accrued expenses 692,190 415,309
Advances from customers 339,659 (520,414)
Prepaid expenses (24,722) 21,505
Net Cash Used in Operating Activities (409,545) (249,838)
Cash Flows from Investing Activities:    
Purchases of property and equipment (401,964) (438,055)
Net Cash Used in Investing Activities (401,964) (438,055)
Cash Flows from Financing Activities:    
Payments of construction term loan   (2,325,039)
Payments of line of credit (2,140,921) (2,526,542)
Proceeds from lines of credit 564,965  
Borrowings and interest from related party 28,962 1,183,414
Repayments to related party (223,013) (562,659)
Proceeds from convertible redeemable debt 5,000,000
Proceeds from lines of credit 3,828,564
Net Cash (Used In) Provided By Financing Activities (1,770,007) 4,597,738
Effect of Exchange Rate Changes on Cash (247,572) (8,439)
Net Increase in Cash, Cash Equivalents and Restricted Cash (2,829,088) 3,901,406
Cash and Cash Equivalents at Beginning of Period 4,859,059 957,653
Cash, Cash Equivalents and Restricted Cash at End of Period 2,029,971 4,859,059
Supplemental Cash Flow Information:    
Cash paid for income taxes
Cash paid for interest 141,797 218,232
Supplemental Noncash Investing and Financing Activities:    
Accounts receivable collected with banker’s acceptances 503,383 601,021
Inventory purchased with banker’s acceptances 575,713 565,079
Right-of-use assets obtained in exchange for operating lease obligations 168,606
Common stock issued for intangible assets 1,707,452
Common stock issued for compensation $ 1,179,200