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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Loss including noncontrolling interest $ (7,205,383) $ (1,734,101)
Adjustments to reconcile loss including noncontrolling interest to net cash provided by (used in) operating activities:    
Depreciation 2,117
Amortization of OID and debt issuing costs of convertible note 72,161
Bad debt expense 2,824,901 835,871
Loss on disposal of 40% ownership of Fund Management Co 47,267
Investment loss 4,815
Loss on transfer of Chengli Boxing system 634,963
Loss on transfer of Xuzhou Huayu system 403,922
Loss on transfer of Shenqiu Phase I & II systems 211,975
Loss on disposal of fixed assets 293
Loss on note conversion 893,958
Changes in deferred tax (2,364,088) (653,123)
Changes in assets and liabilities:    
Interest receivable on sales type leases (173,360) (358,904)
Collection of principal on sales type leases 1,716,968
Accounts receivable 65,001 (1,386,881)
Prepaid expenses 604,127
Other receivables (1,074,031) (190,118)
Notes receivable 62,686
Construction in progress (1,696,509)
Accounts payable (2,888,301) 407,382
Taxes payable (1,283,246) 382,467
Interest payable on entrusted loan 3,720,566 4,008,587
Accrued liabilities and other payables (371,026) (253,103)
Refundable deposit for systems leasing (486,668)
Net cash provided by (used in) operating activities (6,971,096) 1,752,281
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from disposal of property & equipment 5,162
Net cash provided by investing activities 5,162
CASH FLOWS FROM FINANCING ACTIVITIES:    
Issuance of notes payable 2,000,000
Issuance of common stock 3,309,475
Net cash provided by financing activities 5,309,475
EFFECT OF EXCHANGE RATE CHANGE ON CASH AND EQUIVALENTS (80,341) (444,208)
NET INCREASE (DECREASE) IN CASH AND EQUIVALENTS (1,736,800) 1,308,073
CASH AND EQUIVALENTS, BEGINNING OF PERIOD 53,223,142 49,830,243
CASH AND EQUIVALENTS, END OF PERIOD 51,486,342 51,138,316
Supplemental cash flow data:    
Income tax paid 225,784 956,828
Interest paid
Supplemental disclosure of non-cash financing activities:    
Transfer of Xuzhou Huayu Project and Shenqiu Phase I & II project to Mr. Bai 35,938,441  
Conversion of convertible debt into common shares $ 1,070,000