XML 16 R6.htm IDEA: XBRL DOCUMENT v3.24.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash Flows from Operating Activities:    
Net loss $ (3,511,933) $ (1,846,605)
Depreciation and amortization 2,169,993 2,057,818
Bad debt expense (reversal of allowance for doubtful accounts) 4,754 (24,201)
Inventory write off 463,984
Loss on disposal of property, plant & equipment 45,592
Changes in assets and liabilities:    
Trade accounts and other receivables 15,234 (573,763)
Advances to suppliers 1,645 436,582
Inventories 1,095,892 (275,717)
Trade accounts payable (578,163) 204,123
Other payables and accrued expenses (297,916) (163,108)
Advances from customers (65,606) (340,412)
Prepaid expenses (2,720) (197,672)
Net Cash Used in Operating Activities (704,836) (677,363)
Cash Flows from Investing Activity:    
Purchases of property and equipment (18,866) (6,990)
Net Cash used in Investing Activity (18,866) (6,990)
Cash Flows from Financing Activities:    
Payments of line of credit (492,761) (456,176)
Proceeds from lines of credit 492,761 498,943
Borrowings and interest from related party 20,551
Net Cash Provided By Financing Activities 20,551 42,767
Effect of Exchange Rate Changes on Cash (1,996) (18,514)
Net Decrease in Cash, Cash Equivalents and Restricted Cash (705,147) (660,100)
Cash and Cash Equivalents at Beginning of Period 1,423,838 2,029,971
Cash, Cash Equivalents and Restricted Cash at End of Period 718,691 1,369,871
Supplemental Cash Flow Information:    
Cash paid for income taxes
Cash paid for interest 65,468 192,548
Supplemental Noncash Investing and Financing Activities:    
Accounts receivable collected with banker’s acceptances 265,238 421,458
Inventory purchased with banker’s acceptances 304,350 351,463
Conversions of Note Payable to common stock 1,150,000 2,060,000
Issuances of stock for intangible assets 1,365,000
Right-of-use assets 158,926
Conversion of related party note and interest to common stock $ 1,854,542