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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash Flows From Operating Activities    
Net loss $ (1,339,444) $ (147,531)
Net (loss) income from discontinued operations (326,531) 72,349
Net loss from continuing operations (1,012,913) (219,880)
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 15,442 9,369
Amortization of operating lease right-of-use assets 142,357 107,357
Stock compensation expense 53,789 175,962
Changes in bad debt allowance (23) (169,432)
Changes in operating assets and liabilities:    
Accounts receivable 2,307 55,016,394
Advance to suppliers (74,345) 5,005,403
Inventories 368,385 (92,918)
Operating lease liabilities (136,337) (107,357)
Other current assets 1,369 8,699
Accounts payable (122,091) (3,617,093)
Advance from customers 28,944 6,149
Accrued liabilities and other payables 33,024 (536,611)
Taxes payable 27,936 (127,857)
Net Cash (Used in) Provided by Continuing Operations (672,156) 55,458,185
Net Cash Used in Discontinued Operations 0 (177,466)
Net Cash (Used in) Provided by Operating Activities (672,156) 55,280,719
Cash Flows From Investing Activities    
Cash of subsidiary disposed (1,462,200) 0
Purchase of property and equipment 0 (24,911)
Net Cash Used in Continuing Operations (1,462,200) (24,911)
Net Cash Provided by Discontinued Operations 0 0
Net Cash Used in Investing Activities (1,462,200) (24,911)
Cash Flows From Financing Activities    
Proceeds from line of credit and bank loan 0 11,796,018
Repayment to line of credit and bank loan 0 (18,044,180)
Net Cash Used in Continuing Operations 0 (6,248,162)
Net Cash Provided by Discontinued Operations 0 0
Net Cash Used in Financing Activities 0 (6,248,162)
Effect of Exchange Rate Changes on Cash and Cash Equivalents 156,557 0
Net (decrease) increase in cash and cash equivalents (1,977,799) 49,007,646
Cash and cash equivalents, beginning of period 8,885,398 890,408
Cash and cash equivalents, ending of year 6,907,599 49,898,054
Cash paid during the period for:    
Income tax payments 0 78
Interest expense 1,596 36,143
Non-cash financing activities:    
Operating lease assets obtained in exchange for operating lease obligation 0 0
Discontinued operations:    
Income tax payments 0 0
Interest expense 0 0
Analysis of cash and cash equivalents    
Included in cash and cash equivalents per condensed consolidated balance sheets 6,907,599 49,428,662
Included in assets of discontinued operations $ 0 $ 469,392