XML 132 R6.htm IDEA: XBRL DOCUMENT v3.25.3
Consolidated Statements of Cash Flows - USD ($)
6 Months Ended 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:          
Net Income (Loss) $ (1,361,018) $ (345,611) $ 5,114,684 $ (16,312,705) $ (11,219,851)
Adjustments to reconcile net income (loss) to net cash from operating activities:          
Depreciation and amortization 709,959 58,774 127,051 183,097 87,973
Interest expense for convertible notes     221,788
Amortization of right-of-use assets 14,730      
Bad debt expense 29,334 1,428,805 349,419 491,868
(Gain) loss on disposal of subsidiaries 8,241 (8,220,215) 28,648 (14,002)
Impairment of goodwill     7,362,187 6,244,555
Change in operating assets and liabilities:          
Account receivable, net (713,473) 886,150 1,110,936 1,026,666 (4,102,339)
Prepaid expenses     2,104
Inventories, net (46,692) 2,190 240,497 88,132
Other current assets 344,306 (291,199) (7,766,680) (198,684) (345,447)
Advances to suppliers, net 6,903,386 (13,067,059) (16,828,847) 366,038 (1,150,942)
Rent deposit    
Accounts payable 732,800 (754,939) (754,262) (2,306,527) 3,331,146
Contract liabilities 18,518 88,874 127,046 279,817 (406,624)
Tax payable 25,799 (377,474) (380,951) 231,703 204,232
Lease liabilities (13,864) (60,419) (104,678) 232,562
Accrued expenses and other current liabilities 75,914 1,006,851 11,977,824 1,207,791 1,036,397
Net cash used in operating activities 6,727,940 (12,853,862) (14,064,609) (7,422,839) (5,522,340)
Cash flows from investing activities:          
Purchase of intangible assets (15,899,767)      
Disposal of subsidiaries, net of cash disposed    
Cash paid out for loan receivables from third parties     (943,376)
Purchase of property and equipment     (5,539) (25,916)
Net cash used in investing activities (15,899,767) (943,376) (5,539) (25,916)
Cash flows from financing activities:          
Proceeds from related parties loans 204,475      
Repayment of related party loans (1,291,608) (167,180)      
(Payment to) Proceeds from related parties loans     (2,223,362) 222,218 (2,763,012)
Proceeds from convertible promissory notes     5,550,607
Shares based compensation granted to employees     442,883
Proceeds from borrowings     285,255
Repayment of Bank loans (9,630) (117,298) (195,350)
Capital contributions     171,874
Issuance of shares of common stock     47,748,628
Net cash provided by financing activities (1,291,608) 27,665 45,968,149 276,794 2,877,500
Effect of changes of foreign exchange rate on cash 407,539 (141,762) (3,625,234) (503,137) (246,808)
Net increase (decrease) in Cash and cash equivalents (10,055,896) (12,967,959) 27,334,930 (7,654,721) (2,917,564)
Cash, cash equivalents and restricted cash at the Beginning of financial year 43,396,977 16,062,047 16,062,047 23,716,768 26,634,332
Cash, cash equivalents and restricted cash at the end of the year 33,341,081 3,094,088 43,396,977 16,062,047 23,716,768
Cash, cash equivalents and restricted cash          
Cash and cash equivalents 33,341,081   43,396,977 16,060,686 23,716,768
Restricted cash     1,361
Cash, cash equivalents and restricted cash at the end of the year     43,396,977 16,062,047 23,716,768
SUPPLEMENTARY NON-CASH FLOW INFORMATION:          
Lease liabilities arising from obtaining right-of-use assets $ 209,858      
Right of use assets obtained in exchange for operating lease liabilities         302,631
Deferred offering cost reduces additional paid-in capital     $ (9,893)