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Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Jun. 30, 2021
Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Income $ 1,934,666 $ 813,853
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 404,526 412,054
Stock-based compensation expenses 517 42,151
Bad debt expense 18,043
Amortization of operating lease right-of-use assets 172,891 131,088
Changes in operating assets:    
Accounts receivable (7,548,486) (10,531,884)
Inventories (6,264,474) 4,556,693
Prepaid expenses and other current assets (126,087) 504,484
Advance to suppliers 2,925,259 (1,052,028)
Changes in operating liabilities:    
Accounts payable (2,464,174) (2,611,778)
Accrued expenses 359,870 (117,773)
Other payables (422,310) 158,678
Operating lease liabilities (121,352) (84,315)
Income tax payable (307,997) 193,881
Net cash used in operating activities (11,457,151) (7,566,853)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property, plant and equipment (626,680) (165,522)
Acquisition Deposit (1,082,905)
Payment for long-term deposits (62,930) (76,283)
Net cash used in investing activities (1,772,515) (241,805)
CASH FLOWS FROM FINANCING ACTIVITIES    
Dividend payment (566,649) (566,250)
Repayment from short-term loan (612,703) (235)
Net cash used in financing activities (1,179,352) (566,485)
EFFECT OF EXCHANGE RATE CHANGES ON CASH 80,006 (595)
NET DECREASE IN CASH (14,329,012) (8,375,738)
CASH, AND RESTRICTED CASH, BEGINNING OF THE PERIOD 22,861,711 26,916,709
CASH, AND RESTRICTED CASH, END OF THE PERIOD 8,532,699 18,540,971
CASH AND RESTRICTED CASH, END OF PERIOD 8,532,699 18,540,971
LESS: NON-CURRENT RESTRICTED CASH 876,211 786,298
CASH, END OF PERIOD 7,656,488 17,754,673
Supplemental disclosure information:    
Cash paid for interest 28,639
Income tax paid 724,443 148,119
Non-cash financing activities    
Right of use assets obtained in exchange for operating lease obligations $ 353,611 $ 68,932