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Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash Flows from Operating Activities:    
Net income $ (3,746,536) $ (2,733,165)
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 3,481,788 3,686,243
(Gain) Loss on derivative liability (34) (152,097)
(Gain) Loss from disposal and impairment of property, plant and equipment 12,926
(Recovery from) Allowance for bad debts 36,942 (246,386)
Allowances for inventories, net (2,951)
Changes in operating assets and liabilities:    
Accounts receivable (1,847,112) (1,988,921)
Prepayments and other current assets 1,276,805 9,461,336
Inventories 59,612 (3,062,782)
Accounts payable 236,603 (5,101)
Advance from customers (25,123)
Notes payable 246,299
Related parties (187,484) (128,625)
Accrued payroll and employee benefits 73,213 126,986
Other payables and accrued liabilities 1,022,398 263,712
Income taxes payable (424,198)
Net Cash Provided by Operating Activities 624,420 4,809,928
Cash Flows from Investing Activities:    
Purchases of property, plant and equipment (9,027) (295,018)
Net Cash Used in Investing Activities (9,027) (295,018)
Cash Flows from Financing Activities:    
Proceeds from short term bank loans 422,488
Proceeds from long term loans 2,623,410
Repayment of bank loans (2,915)
Payment of capital lease obligation (55,849)
Net Cash Provided by Financing Activities 422,488 2,564,646
Effect of Exchange Rate Changes on Cash and Cash Equivalents (12,242) 146,516
Net Increase in Cash and Cash Equivalents 1,025,639 7,226,072
Cash, Cash Equivalents and Restricted Cash - Beginning of Period 4,391,921 9,524,868
Cash, Cash Equivalents and Restricted Cash - End of Period 5,417,560 16,750,940
Supplemental Disclosure of Cash Flow Information:    
Cash paid for interest, net of capitalized interest cost 137,340 84,040
Cash paid for income taxes 36,793 424,198
Cash and bank balances 4,514,020 16,750,940
Restricted cash 903,540
Total cash, cash equivalents and restricted cash shown in the statement of cash flows $ 5,417,560 $ 16,750,940