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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net Loss $ (12,134,310) $ (6,619,139)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,844,170 1,540,415
Provision for allowance of doubtful accounts 245,224 645,117
Share-based compensation expense 2,145,240 2,365,257
Amortization of issuance cost and debt discounts related to convertible notes 1,609,658  
Change in fair value of derivatives (85,227)  
Loss on disposal of property and equipment (9,362) (13,329)
Share of loss in equity method investment 3,883  
Noncash lease expense 768,735  
Changes in assets and liabilities:    
Accounts receivable (3,159,059) (7,758,577)
Prepaid expenses and other current assets 3,130,888 (2,212,436)
Other non-current assets (271,642) (522,341)
Accounts payable (25,939,096) 28,487,419
Accrued salary and benefits (2,701,173) 1,066,086
Accrued expenses and other current liabilities (4,136,119) 2,278,206
Operating lease liabilities (1,031,554)  
Deferred revenue (721,749) 1,139,348
Other non-current liabilities (73,277) (34,032)
Net cash provided by (used in) operating activities (40,514,770) 20,361,994
Cash flows from investing activities:    
Purchases of property, equipment and intangible assets (610,463) (1,507,494)
Purchases of short-term investments   (13,000,000)
Maturity of short-term investments   21,188
Purchases of long-term investments (314,091) (141,253)
Net cash used in investing activities (924,554) (14,627,559)
Cash flows from financing activities:    
Proceeds from short-term borrowings 65,182,723 14,571,130
Repayment of short-term borrowings (61,057,629) (8,865,969)
Proceeds from issuance of ordinary shares upon exercise of share options 37,521 235,778
Proceeds from issuance of convertible notes, net of debt discounts and issuance cost of US$2.8 million 27,175,000  
Cash paid to settle vested share options and restricted shares   (823,226)
Payments of share repurchases (1,322,195) (5,871,945)
Net cash (used in) provided by financing activities 30,015,420 (754,232)
Net increase (decrease) in cash, cash equivalents, and restricted cash (11,423,904) 4,980,203
Cash, cash equivalents, and restricted cash at beginning of period 49,622,714  
Effect of exchange rate changes on cash, cash equivalents and restricted cash 761,453 (25,117)
Cash, cash equivalents, and restricted cash at end of period 38,960,263 64,921,117
Supplemental disclosure of cash flow information:    
Income taxes paid 25 3,200
Interest paid 262,215 249,187
Supplemental disclosure of noncash investing and financing activities:    
Purchases of property and equipment included in payables 231,823 $ 54,814
Conversion of convertible notes into ordinary shares $ 10,494,517