XML 22 R5.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 1,386,773 $ (275,891)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Amortization of OID and debt issuing costs of notes 118,750 45,833
Stock compensation expense 223,438 10,999
Operating lease expenses 50,812 49,034
Bad debts expense (reversal) (34,581) (1,659,101)
Loss on note conversion 61,155 496,853
Interest expense 818,914
Gain on termination of buy-back agreement of Chengli project (3,156,138)
Changes in assets and liabilities:    
Collection of principal and interest on sales type leases for Pucheng systems 13,959,334
Accounts receivable 345,808 43,765,943
Prepaid expenses 19,253 (8,339)
Other receivables 1,981 (3,141)
Advance to suppliers (850,000)
VAT receivable (186,817)
Taxes payable (707,917) (2,133,778)
Payment of lease liability (67,750) (57,442)
Interest payable on entrusted loan 962,052
Accrued liabilities and other payables 392,401 46,968
Net cash provided by (used in) operating activities (1,583,918) 55,199,324
CASH FLOWS FROM FINANCING ACTIVITIES:    
Issuance of notes payable 5,000,000
Issuance of common stock 37,561,720 497,187
Net cash provided by financing activities 42,561,720 497,187
EFFECT OF EXCHANGE RATE CHANGE ON CASH 740,273 1,869,350
NET INCREASE IN CASH 41,718,075 57,565,861
CASH, BEGINNING OF PERIOD 107,804,013 16,221,297
CASH, END OF PERIOD 149,522,088 73,787,158
Supplemental cash flow data:    
Income tax paid 197,296
Interest paid  
Supplemental disclosure of non-cash operating activities Repayment of entrusted loan resulting from termination of buy-back option for Chengli project 29,149,705
Transfer of Tian’an project from construction in progress to accounts receivable 23,771,386
Adoption of ASC 842-right-of-use asset 191,200
Adoption of ASC 842-operating lease liability 191,200
Supplemental disclosure of non-cash financing activities    
Conversion of notes into common shares $ 2,000,000 $ 1,442,086