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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash Flows from Operating Activities:    
Net income (loss) $ (4,969,474) $ 635,926
Net loss from discontinued operations (77,779) (1,200,110)
Net loss from continuing operations (4,891,695) 1,836,036
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization of property and equipment 106,608 50,396
Stock compensation expense 445,000 0
Amortization of right-of-use assets 2,123,901 40,730
Amortization of intangible assets 41,670 98
Bad debts expense 81,072 129,230
Impairment loss of financing lease right-of-use assets 80,223 0
Gain (loss) on disposal of equipment (412) 4,621
Change in fair value of derivative liabilities 412,941 (1,994,806)
Change in operating assets and liabilities    
Accounts receivable 124,198 (2,580,766)
Inventories 278,161 (804,853)
Prepayments, other receivables and other assets (248,889) (1,280,566)
Finance lease receivables (46,913) (1,109,277)
Accounts payable (3,097) 167,472
Advances from customers 11,864 60,385
Income tax payable 480 87,469
Accrued expenses and other liabilities 1,355,339 351,653
Operating lease liabilities (96,436) (74,875)
Operating lease liabilities - related parties 61,575 0
Net cash used in operating activities from continuing operations (164,410) (5,117,053)
Net cash used in operating activities from discontinued operations (1,131,564) (947,351)
Net Cash used in Operating Activities (1,295,974) (6,064,404)
Cash Flows from Investing Activities:    
Purchases of property and equipment (19,572) (384,695)
Prepayment of intangible assets 0 (470,000)
Net cash used in investing activities from continuing operations (19,572) (854,695)
Net cash used in investing activities from discontinued operations (71) 0
Net Cash Used in Investing Activities (19,643) (854,695)
Cash Flows from Financing Activities:    
Net proceeds from issuance of common stock and warrants in a registered direct offering 0 5,142,124
Net proceeds from issuance of common stock and warrants in an underwritten public offering 6,098,297 0
Net proceeds from issuance of common stock upon exercise of warrants 75,000 96
Borrowings from a financial institution 488,932 0
Repayments to stockholders (28,569) 0
Repayments to third parties 0 (462,370)
Loan to related party (66,427) 0
Borrowings from related parties and affiliates 0 1,121,435
Repayments to related parties and affiliates (205,900) (838,949)
Repayments of current borrowings from financial institutions (150,999) (97,306)
Release of escrow receivable 0 600,000
Principal payments of finance lease liabilities (1,449,554) 0
Net cash provided by financing activities from continuing operations 4,760,780 5,465,030
Net cash provided by (used in) financing activities from discontinued operations 28,569 (814,033)
Net Cash Provided by Financing Activities 4,789,349 4,650,997
Effect of exchange rate changes on cash and cash equivalents 76,259 (213,741)
Net (decrease) increase in cash and cash equivalents 3,549,991 (2,481,843)
Cash and cash equivalents, beginning of period 844,028 5,020,510
Cash and cash equivalents, end of period 4,394,019 2,538,667
Less: Cash and cash equivalents from discontinued operations 0 (293,766)
Cash and cash equivalents from continuing operations, end period 4,394,019 2,244,901
Supplemental Cash Flow Information    
Cash paid for interest expense 35,540 62,345
Cash paid for income tax 0 0
Non-cash Transaction in Investing and Financing Activities    
Prepayment in exchange of intangible assets 0 40,457
Recognition of right-of-use assets and lease liabilities 2,976,966 960,908
Acquisition of equipment through prepayment and financing lease 312,864 0
Allocation of fair value of derivative liabilities for issuance of common stock proceeds 241,919 3,150,006
Allocation of fair value of derivative liabilities to additional paid in capital upon warrants exercised 56,662 961,631
Stock issued on deferred stock compensation $ 445,000 $ 0