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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash Flows from Operating Activities:    
Net loss $ (4,792,104) $ (3,416,318)
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 8,166,403 7,496,314
(Gain) Loss on derivative liability (872,040) 27,865
(Recovery from) Allowance for bad debts 53,074 (1,525)
Share-based compensation and expenses 1,242,000
Deferred tax 3,764,689 (1,021,699)
Changes in operating assets and liabilities:    
Accounts receivable (3,229,340) (89,311)
Prepayments and other current assets (8,060,524) 5,739,395
Inventories (10,412,117) (4,291,622)
Accounts payable 144,206 604,823
Advance from customers 87,729
Related parties (860,721) 1,878,231
Accrued payroll and employee benefits 86,928 (35,990)
Other payables and accrued liabilities 15,529 (1,394,793)
Income taxes payable 425,654 (968,474)
Net Cash (Used in) Provided by Operating Activities (15,570,363) 5,856,625
Cash Flows from Investing Activities:    
Purchases of property, plant and equipment (171,541) (981,150)
Net Cash Used in Investing Activities (171,541) (981,150)
Cash Flows from Financing Activities:    
Proceeds from issuance of shares and warrants, net 41,837,553 2,273,360
Repayment of bank loans (77,301)
Payment of capital lease obligation (88,661)
Net Cash Provided by Financing Activities 41,671,591 2,273,360
Effect of Exchange Rate Changes on Cash and Cash Equivalents 201,419 (158,550)
Net Increase in Cash and Cash Equivalents 26,131,106 6,990,285
Cash, Cash Equivalents and Restricted Cash - Beginning of Period 4,142,437 5,837,745
Cash, Cash Equivalents and Restricted Cash - End of Period 30,273,543 12,828,030
Supplemental Disclosure of Cash Flow Information:    
Cash paid for interest, net of capitalized interest cost 312,344 288,463
Cash paid for income taxes 265,450 1,369,690
Cash and bank balances 30,273,543 12,828,030
Restricted cash
Total cash, cash equivalents and restricted cash shown in the statement of cash flows $ 30,273,543 $ 12,828,030