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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 $ 813,853 $ 1,549,488
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 412,054 338,652
Stock-based compensation expenses 42,151
Bad debt expense 18,043
Amortization of operating lease right-of-use assets 131,088 110,546
Changes in operating assets:    
Accounts receivable (10,531,884) (9,383,142)
Inventories 4,556,693 602,719
Prepaid expenses and other current assets 504,484 (285,165)
Advance to suppliers (1,052,028) (1,345,913)
Changes in operating liabilities:    
Accounts payable (2,611,778) (913,522)
Accrued expenses (117,773) 274,333
Other payables 158,678 367,959
Operating lease liabilities (84,315) (50,012)
Income tax payable 193,881 335,000
Net cash used in operating activities (7,566,853) (8,399,057)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property, plant and equipment (165,522) (1,374,139)
Other long-term assets (76,283)
Net cash used in investing activities (241,805) (1,374,139)
CASH FLOWS FROM FINANCING ACTIVITIES    
Dividend distribution (566,250) (566,250)
Repayment from short-term loan (235) (580,447)
Net cash used in financing activities (566,485) (1,146,697)
EFFECT OF EXCHANGE RATE CHANGES ON CASH (595) 4,295
NET DECREASE IN CASH (8,375,738) (10,915,598)
CASH, AND RESTRICTED CASH, BEGINNING OF THE PERIOD 26,916,709 27,834,468
CASH, AND RESTRICTED CASH, END OF THE PERIOD 18,540,971 16,918,870
CASH AND RESTRICTED CASH, END OF PERIOD 18,540,971 16,918,870
LESS: NON-CURRENT RESTRICTED CASH 786,298 796,876
CASH, END OF PERIOD 17,754,673 16,121,994
Supplemental disclosure information:    
Cash paid for interest 5,186
Income tax paid 148,119
Non-cash financing activities    
Right of use assets obtained in exchange for operating lease obligations $ 68,932 $ 1,292,416