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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash Flows From Operating Activities    
Net loss $ (7,109,064) $ (1,854,746)
Net loss from discontinued operations 0 (326,531)
Net loss from continuing operations (7,109,064) (1,528,215)
Adjustments to reconcile net loss from continuing operations to net cash used in operating activities:    
Depreciation and amortization 38,526 28,258
Amortization of operating lease right-of-use assets 385,816 285,520
Write down of inventories 5,526,307 0
Stock based compensation expense 25,740 98,419
Changes in bad debt allowance (3,590) (29)
(Increase) decrease in -    
Accounts receivable 359,078 2,905
Advance to suppliers 62,921 17,299,607
Inventories 124,171 (16,607,308)
Other current assets (703,768) (354,640)
Increase (decrease) in -    
Operating lease liabilities (363,836) (275,361)
Accounts payable (193,852) (184,198)
Advance from customers (3,777) 49,404
Accrued liabilities and other payables 421,366 97,064
Taxes payable (180,832) (25,797)
Net Cash Used in Operating Activities (1,614,794) (1,114,371)
Cash Flows From Investing Activities    
Loan to an unrelated party (1,220,226) 0
Purchase of property and equipment (152,950) 0
Net Cash Used in Investing Activities (1,373,176) 0
Cash Flows From Financing Activities    
Proceeds from other loans 0 466,096
Net Cash Provided by Financing Activities 0 466,096
Net Cash Provided by Discontinued Operations 0 1,037,800
Effect of Exchange Rate Changes on Cash and Cash Equivalents (251,665) 195,968
Net (decrease) increase in cash and cash equivalents (3,239,635) 585,493
Cash and cash equivalents, beginning of period 8,744,784 8,885,398
Cash and cash equivalents, ending of year 5,505,149 9,470,891
Cash paid during period for:    
Income tax payments 193,948 55,000
Interest expense $ 2,910 $ 3,124