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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cash Flows from Operating Activities:    
Net income $ (5,554,002) $ 2,221,182
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 15,793,854 15,304,039
Loss on derivative liability 426,055
Allowances for obsolete inventories, net 75,719
(Recovery from) Allowance for bad debts (28,087) 2,192
Share-based compensation and expenses 1,256,700
Gain on acquisition of a subsidiary
Deferred tax (2,364,575) (2,369,683)
Changes in operating assets and liabilities:    
Accounts receivable 923,429 (294,882)
Prepayments and other current assets 5,301,953 (5,392,916)
Inventories 458,878 1,207,958
Accounts payable 307,198 (372,728)
Advance from customers (21,281) 99,472
Notes payable (3,625,921)
Related parties 1,984,619 (1,757,231)
Accrued payroll and employee benefits (82,516) 82,813
Other payables and accrued liabilities (1,105,508) 1,169,967
Income taxes payable (1,153,191) 1,180,493
Net Cash Provided by Operating Activities 16,143,526 7,530,474
Cash Flows from Investing Activities:    
Purchases of property, plant and equipment (21,106,210) (6,416,481)
Proceeds from sale of property, plant and equipment 580,206  
Acquisition of a subsidiary (1,450,368)
Net Cash Used in Investing Activities (20,526,004) (7,866,849)
Cash Flows from Financing Activities:    
Proceeds from issuance of shares and warrants, net 2,273,360
Repayments of related party loans (2,175,553)
Proceeds from short term bank loans 6,090,715 10,152,579
Proceeds from credit union loans 4,206,068
Repayment of bank loans (6,237,217) (17,955,561)
Payment of capital lease obligation (72,003)
Net Cash Provided by (Used in) Financing Activities 2,054,855 (5,772,467)
Effect of Exchange Rate Changes on Cash and Cash Equivalents 632,315 (170,838)
Net (Decrease) Increase in Cash and Cash Equivalents (1,695,308) (6,279,680)
Cash, Cash Equivalents and Restricted Cash - Beginning of Year 5,837,745 12,117,425
Cash, Cash Equivalents and Restricted Cash - End of Year 4,142,437 5,837,745
Supplemental Disclosure of Cash Flow Information:    
Cash paid for interest, net of capitalized interest cost 592,140 926,368
Cash paid for income taxes 2,401,191 2,250,546
Cash and bank balances 4,142,437 5,837,745
Restricted cash
Total cash, cash equivalents and restricted cash shown in the statement of cash flows $ 4,142,437 $ 5,837,745