XML 16 R7.htm IDEA: XBRL DOCUMENT v3.23.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash Flows from Operating Activities:    
Net loss $ (1,846,605) $ (2,708,657)
Depreciation and amortization 2,057,818 2,061,108
Bad debt (benefit) expense (24,201) (83,715)
Loss on disposal of property, plant & equipment 45,592  
Changes in assets and liabilities:    
Trade accounts and other receivables (573,763) (62,908)
Advances to suppliers 436,582 (8,394)
Inventory (275,717) 496,202
Trade accounts payable 204,123 (426,219)
Other payables and accrued expenses (163,108) (112,149)
Advances from customers (340,412) (112,362)
Prepaid expenses (197,672) (37,045)
Net Cash Used in Operating Activities (677,363) (994,139)
Cash Flows from Investing Activities:    
Purchases of property and equipment (6,990) (429,232)
Net Cash Used in Investing Activities (6,990) (429,232)
Cash Flows from Financing Activities:    
Payments of line of credit (456,176) (893,019)
Proceeds from lines of credit 498,943  
Borrowings and interest from related party   22,114
Repayments to related party (227,039)
Net Cash (Used In) Provided By Financing Activities 42,767 (1,097,944)
Effect of Exchange Rate Changes on Cash (18,514) (251,447)
Net decrease in Cash, Cash Equivalents and Restricted Cash (660,100) (2,772,762)
Cash and Cash Equivalents at Beginning of Period 2,029,971 4,859,060
Cash, Cash Equivalents and Restricted Cash at End of Period 1,369,871 2,086,298
Supplemental Cash Flow Information:    
Cash paid for income taxes
Cash paid for interest 192,548 113,392
Supplemental Noncash Investing and Financing Activities:    
Accounts receivable collected with banker’s acceptances 421,458 355,778
Inventory purchased with banker’s acceptances 351,463 375,798
Conversions of Note Payable to common stock 2,060,000 700,000
Right of use assets 158,926
Conversion of related party note and interest to common stock $ 1,854,542