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CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net (loss) income $ (21,718,417) $ (9,405,081) $ (60,054,620)
Net income (loss) from discontinued operation 7,389,310 (282,027) (8,561,804)
(Loss)/ income from continuing operations (29,107,727) (9,123,054) (51,492,816)
Adjustments to reconcile net income to net cash used in operating activities:      
Depreciation of property, plant and equipment 260,883 185,083 241,265
Amortization of intangible assets 159,579 169,149 1,557,016
Impairment of goodwill 3,681 14,537
Impairment of intangible assets 1,075,997 14,632,931
Impairment of Property, plant and equipment 17,308 29,716
 Impairment of inventory 12,600,000    
Interest expenses related to convertible note 146,322 100,314
Share-based payments 3,659,080 4,043,550
Issuance of common stock to pay for goods 42,420,000
Provision for doubtful accounts 10,246,270 (1,060,782) (29,661,273)
Deferred income taxes 119,127
Changes in operating assets and liabilities:      
Accounts receivable (14,915,499) 4,762,503 9,091,390
Accounts receivables related party 1,906,101
Other receivables (1,208,861) 385,779 24,850,497
Inventories (17,545,153) 116,115 (41,460)
Prepayments 41,367 (773,671) 14,189,940
Operating lease assets 22,102 276 (13,025)
Accounts payable (6,260) (21,891) 134,526
Other payables and accrued liabilities (4,986,175) 92,607 5,179,130
Customer deposits (16,609) 12,549 5,532
Taxes payable (35,756) (395,191) (5,337,785)
Net cash (used in) generated from operating activities - continued operation (9,773,132) (1,473,267) (14,624,367)
Net cash (used in) generated from operating activities - discontinued operation 7,661,561 281,780 (5,488,297)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of property and equipment (3,429) (140,962)
Proceeds from disposal of equipment 9,760 52,799
Purchase of intangible assets (16,385,451)
Proceeds from disposal of intangible assets 12,985,106
Disposal of a subsidiary (15,380) (866,075)
Acquisition of subsidiaries, net of cash received 5 (162,326)
Net cash from investing activities – continued operation (15,380) 6,336 (4,516,909)
Net cash from investing activities  – discontinued operation 0 0 (1,952)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of new shares 2,998,397 88,592 12,830,780
Gross proceeds from issuance of convertible note 1,550,000
Repayment of convertible note (449,999) (739,189)
Proceeds (Repayment) from other payables - related party 905,171 6,406
(Repayment) from loan payables - related party (102,464) (14,117)
Change in restricted cash (1,587) (1,129)
Repayments of short-term loans - banks (138,393) (4,663,292)
Net cash generated from financing activities – continued operation 2,305,954 2,542,634 7,420,588
Net cash generated from financing activities – discontinued operation (52,322) (11,960) 154,260
EFFECT OF EXCHANGE RATES ON CASH 210,505 (1,319,437) 1,439,535
NET CHANGES IN CASH AND CASH EQUIVALENTS 337,186 26,086 (15,617,142)
CASH AND CASH EQUIVALENTS, beginning of year 70,402 50,449 15,752,704
CASH AND CASH EQUIVALENTS, end of year 407,588 76,535 135,562
Less: cash and cash equivalents from the discontinued operations, end of year (7,262) (85,113)
CASH AND CASH EQUIVALENT, FROM THE CONTINUING OPERATIONS, end of year 407,588 69,273 50,449
SUPPLEMENTAL CASH FLOW INFORMATION:      
Cash and cash equivalents 407,588 76,535 135,562
CASH AND CASH EQUIVALENTS, end of year 407,588 76,535 135,562
Provision for doubtful trade receivables (8,929,110) (1,035,345) (6,037,274)
Provision for doubtful other receivables (1,207,145) (22,869) (13,484,319)
Reversal for doubtful prepayments (110,014) 4,925 (10,166,240)
Allowance for inventory (7,492) 26,561
(Reversal)/Provision for doubtful accounts (10,246,269) (1,060,781) (29,661,272)
Cash paid for income tax 6,081 1,097,888 1,529,850
Cash paid for interest 222,057 133,882 229,985
SUPPLEMENTAL NON-CASH INVESTING INFORMATION:      
Additional of operating lease, right-of-use asset 2,353,083 40,596 118,272
SUPPLEMENTAL NON-CASH FINANCING INFORMATION:      
Operating lease liabilities $ 235,470 $ 11,261 $ 57,645