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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities    
Net income (loss) $ 3,597,470 $ (3,368,126)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation expense 573,872 561,644
Amortization expense 136,633 215,833
Share based compensation 1,921,081
Lease amortization 1,965,277 2,142,010
Bad debt reserve 101,708 233,448
Deferred income taxes (97,937)
Changes in operating assets and liabilities:    
Accounts receivable (44,868) (181,405)
Inventories (2,557,209) 1,596,001
Advance to vendor 397,033
Prepaid expenses and other current assets (61,128) 211,284
Security deposits 5,645
Accounts payable (1,686,944) (2,637,611)
Deferred revenue 436,797 313,698
Accrued expenses (192,600) (1,357)
Taxes payable (29,155)
Operating lease liabilities (1,966,952) (2,062,703)
Other liabilities 471,194 528,028
Net cash provided by (used in) operating activities 1,141,128 (620,467)
Cash flows from investing activities    
Cash advances to related parties (802,063) 610,738
Acquisition of property and equipment (671,900) (281,489)
Cash paid for acquisition of Xiamen DL Medical Technology Co, Ltd. (“DL Medical”), net of cash received (577,453)
Cash received from acquisition of Hubei Rongentang Herbal Wine Co., Ltd., (“RET”) 371,310
Net cash provided by (used in) investing activities (1,680,106) 329,249
Cash flows from financing activities    
Cash received from government loans 1,768,212
Repayments on term loan (507,599)
Repayments on notes payable (18,990) (24,814)
Payments on finance lease obligations (35,546) (34,427)
Cash received from capital contribution 1,119,582
Cash received from issuance of stock 2,500,000
Net cash provided by financing activities 4,213,676 552,742
Effect of exchange rate change on Cash and cash equivalents 196
Net increase in cash and cash equivalents 3,674,894 261,524
Cash and cash equivalents at beginning of the period 751,942 1,048,090
Cash and cash equivalents at the end of the period 4,426,836 1,309,614
Supplemental disclosure of cash flow information    
Cash paid for interest 9,858 609,745
Supplemental disclosure of non-cash investing and financing activities    
Right of use assets obtained in exchange for operating lease liabilities 1,989,116
Common stock issued for business acquisitions 6,052,335
Preferred stock issued for business acquisitions $ 4,908,539