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CONSOLIDATED AND COMBINED STATEMENTS OF CASH FLOW - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (112,145,263) $ (16,421,807)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization 953,872 632,256
Amortization of operating lease right-of-use asset 1,616,853 636,921
Impairment of property, plant and equipment 550,402 6,215
Impairment of intangible assets 2,995,440 0
Reversal of deferred tax liabilities (898,632) 0
Impairment of right-of-use assets 371,695 0
Impairment of goodwill 11,111,886 0
Written-down of inventories 2,155,400 1,265,890
Provision for doubtful accounts 5,986,308 469,702
Convertible promissory notes issuance costs 5,589,336 0
Loss on redemption of convertible promissory notes 7,435 0
Changes in fair value of convertible promissory notes and derivative liabilities 37,774,928 0
Changes in fair value of equity securities 240,805 0
Foreign currency exchange loss, net 409,207 14,212
Share-based compensation expense 4,031,629 1,128,325
Government grants of federal loan forgiven 0 (53,619)
Gain from disposal of plant and equipment (10,334) (55,087)
Gain from disposal of long-term investment 0 (508,156)
Equity pickup of the equity investment 12,651 (15,167)
Changes in operating assets and liabilities:    
Accounts receivable 233,570 (2,002,919)
Inventories (20,483,127) (5,087,563)
Prepayment and other assets (6,753,851) (2,687,994)
Amounts due from/to related parties (1,190,573) (128,640)
Accounts payable (2,144,725) (128,508)
Accrued expense and other current liabilities 1,358,858 1,376,950
Contractual liabilities 633,825 286,499
Long-term payable (700,000) 700,000
Operating lease liabilities (1,108,721) (903,096)
Net cash used in operating activities (69,401,126) (21,475,586)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of equity investment (4,256,276) (310,038)
Proceeds from disposal of long-term investment 0 465,941
Cash payment for long-term investment payable 0 (909,808)
Purchase of plant and equipment (3,285,072) (756,269)
Purchase of land use rights and property (16,456,355) 0
Acquisition of 65% of CAE's equity interests (3,612,717) 0
Payment of expense for acquisition of CAE's equity interests (348,987) 0
Cash acquired from acquisition of CAE 1,118,700 0
Purchase of equity securities (30,000,000) 0
Proceeds from disposal of land use rights and property 0 7,812,967
Proceeds from disposal of property, plant and equipment 309 75,934
Loans provided to third parties (1,323,671) 0
Loans provided to related parties 0 (232,529)
Repayment of loans from related parties 1,280,672 1,088,441
Net cash (used in) provided by investing activities (56,883,397) 7,234,639
CASH FLOWS FROM FINANCING ACTIVITIES:    
Loans proceeds from related parties 0 5,020,218
Repayment of loans to related parties (1,726,614) (6,493,707)
Repayment of loans to third parties (1,113,692) (3,928,380)
Proceeds from bank loans 0 53,619
Purchase of CAE's loan (13,228,101) 0
Reduction of capital (13,930,000) 0
Cash proceed from reversed recapitalization 0 247,382,859
Loan proceeds from Naked Brand Group Limited 0 30,000,000
Proceed from issuance of convertible promissory notes 54,069,000 0
Redemption of convertible promissory notes (3,727,500) 0
Proceed from exercise of share-based awards 14,386 0
Payment of expense for the reverse recapitalization (904,843) (883,300)
Net cash provided by financing activities 19,452,636 271,151,309
Effect of exchange rate changes on cash (736,274) 205,566
Net (decrease) increase in cash, cash equivalents and restricted cash (107,568,161) 257,115,928
Cash, cash equivalents and restricted cash at beginning of year 261,664,962 4,549,034
Cash, cash equivalents and restricted cash at end of year 154,096,801 261,664,962
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Interest paid (369,410) (830,837)
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Cashless exercise of warrants 18,549,864 0
Right of use asset financed by lease liabilities 0 1,206,244
Exemption of debt due from shareholders 0 426,781
Direct cost related to reverse recapitalization payable 0 904,843
Reduction of capital investment recorded as due to related parties $ 0 $ 13,930,000