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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash Flows from Operating Activities:    
Net income $ (5,962,026) $ (4,663,445)
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 10,573,288 11,218,254
(Gain) Loss on derivative liability (646,020) (729,263)
(Gain) Loss from disposal and impairment of property, plant and equipment 956,406
Allowance for bad debts (815,317) (791)
Share-based compensation and expenses 1,560,000
Gain on acquisition (30,404)
Deferred tax (1,197,630)
Changes in operating assets and liabilities:    
Accounts receivable (2,037,003) 146,250
Prepayments and other current assets 7,968,553 (422,092)
Inventories (2,631,661) 863,170
Accounts payable 101,328 144,331
Advance from customers 19,140
Related parties 120,298 (149,827)
Accrued payroll and employee benefits 141,773 (42,738)
Other payables and accrued liabilities 119,132 1,000,945
Income taxes payable (413,777) (265,493)
Net Cash Provided by Operating Activities 7,494,114 7,431,267
Cash Flows from Investing Activities:    
Purchases of property, plant and equipment (9,211,711) (1,681,979)
Acquisition of land (6,507,431)
Net Cash Used in Investing Activities (9,211,711) (8,189,410)
Cash Flows from Financing Activities:    
Proceeds from short term bank loans 852,988 602,319
Proceeds from long term loans 2,558,963 60,232
Repayment of bank loans (5,549,150) (307,182)
Payment of capital lease obligation (130,470) (154,212)
Loan to a related party (net) 4,264,938 6,638,923
Net Cash Provided by Financing Activities 1,997,269 6,840,080
Effect of Exchange Rate Changes on Cash and Cash Equivalents (366,599) (1,266,146)
Net (Decrease) Increase in Cash and Cash Equivalents (86,927) 4,815,791
Cash, Cash Equivalents and Restricted Cash - Beginning of Period 9,524,868 11,201,612
Cash, Cash Equivalents and Restricted Cash - End of Period 9,437,941 16,017,403
Supplemental Disclosure of Cash Flow Information:    
Cash paid for interest, net of capitalized interest cost 1,118,672 248,275
Cash paid for income taxes 761,801 1,287,530
Cash and bank balances 9,437,941 16,017,403
Restricted cash
Total cash, cash equivalents and restricted cash shown in the statement of cash flows $ 9,437,941 $ 16,017,403