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CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net (loss) income $ (9,405,081) $ (60,054,620) $ 8,281,017
Net income from discontinued operation 1,493,945 233,153
(Loss)/ income from continuing operations (9,405,081) (61,548,565) 8,047,864
Adjustments to reconcile net income to net cash used in operating activities:      
Depreciation of property, plant and equipment 278,562 411,020 268,233
Amortization of intangible assets 1,680,334 3,451,000 740,641
Impairment of goodwill 3,681 3,806,593
Impairment of intangible assets 14,632,931
Impairment of Property, plant and equipment 29,716
Interest expenses related to convertible note 100,314
Share-based payments 4,043,550
Provision for doubtful accounts (819,413) 29,048,252 972,671
Deferred income taxes 255,673 63,107
Changes in operating assets and liabilities:      
Accounts receivable 3,986,645 (42,080) (3,151,363)
Accounts receivables related party 1,906,101 (1,906,101)
Other receivables 385,105 (2,058,397) (1,159,776)
Inventories 116,115 (41,460) 34,495
Prepayments (823,597) (5,682,689) 58,441
Operating lease assets (2,182) (15,185)
Accounts payable (73,666) 746,840 (82,419)
Other payables and accrued liabilities 52,501 (2,584,323) (1,882,550)
Customer deposits (600,698) 901,749
Taxes payable (550,379) (5,472,210) 3,049,172
Net cash (used in) generated from operating activities - continued operation (1,598,493) (22,284,750) 5,052,415
Net cash (used in) generated from operating activities - discontinued operation 2,477,398 (8,692)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of property and equipment (3,429) (142,914) (2,207,894)
Proceeds from disposal of equipment 9,760 52,799 11,285
Prepayments for intangible assets 240,157
Purchase of intangible assets (16,385,451) (9,657,844)
Proceeds from disposal of intangible assets 12,985,106 852,406
Disposal of a subsidiary (866,075)
Acquisition of subsidiaries, net of cash received 5 (141,820)
Net cash from investing activities 6,336 (4,498,355) (10,761,890)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of new shares 88,592 12,830,780 2,698,046
Gross proceeds from issuance of convertible note 1,550,000 739,189
Repayment of convertible note (739,189)
Proceeds (Repayment) from other payables - related party 893,211 160,666
Change in restricted cash (1,129)
Repayments of short-term loans - banks (4,663,292) (4,349,339)
Short-term loans - banks 3,477,422
Repayments of long-term loans - third party (14,117) (72,208)
Net cash generated from financing activities 2,530,674 7,574,848 2,493,110
EFFECT OF EXCHANGE RATES ON CASH (997,544) 1,113,717 3,547,033
NET CHANGES IN CASH AND CASH EQUIVALENTS (59,027) (15,617,142) 321,976
CASH AND CASH EQUIVALENTS, beginning of year 135,562 15,752,704 15,478,587
CASH AND CASH EQUIVALENTS, end of year 76,535 135,562 15,800,563
Less: cash and cash equivalents from the discontinued operations, end of year 47,859
CASH AND CASH EQUIVALENT, FROM THE CONTINUING OPERATIONS, end of year 76,535 135,562 15,752,704
SUPPLEMENTAL CASH FLOW INFORMATION:      
Cash and cash equivalents 76,535 135,562 15,752,704
CASH AND CASH EQUIVALENTS, end of year 76,535 135,562 15,752,704
Provision for doubtful trade receivables (798,445) 5,747,069 909,223
Provision for doubtful other receivables (20,554) 13,471,554 12,691
Reversal  for doubtful prepayments 7,078 9,803,067 50,757
Allowance for inventory (7,492) 26,561
(Reversal)/Provision  for doubtful accounts (819,413) 29,048,251 972,671
Cash paid for income tax 1,097,888 1,529,850 779,459
Cash paid for interest 33,542 398,963 439,607
SUPPLEMENTAL NON-CASH INVESTING INFORMATION:      
Additional of operating lease, right-of-use asset 40,596 155,223 231,988
SUPPLEMENTAL NON-CASH FINANCING INFORMATION:      
Operating lease liabilities $ 11,261 $ 97,054 $ 242,046