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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:      
Net income $ 782,296 $ 1,642,794 $ 2,854,887
Adjustments to reconcile net income to net cash provided by operating activities:      
Loss on disposals of equipment (17,761) (25,558) 6,803
Provision for doubtful accounts 82,647 34,356 63,601
Amortization of deferred financing fees 124,401 176,391 217,928
Depreciation for property and equipment 1,519,415 1,365,945 1,374,737
Deferred income tax expenses (10,381) 2,451 3,013
Changes in operating assets and liabilities      
Accounts receivable 5,842,238 (3,645,292) (72,261)
Operating supplies   4,000 166,637
Prepayments 644,525 292,288 (535,532)
Other receivables (10,187,401) (34,961) 247,278
Deposits (189,430) 33,692 87,537
Accounts payable (240,887) 741,827 (803,359)
Other payables and accrued liabilities 412,064 (314,380) (376,775)
Tax payables 348,065 843,842 564,503
Net cash provided by operating activities (890,209) 1,117,395 3,798,997
Cash flows from investing activities:      
Purchases of equipment (156,029) (917,288) (108,591)
Proceeds from disposal of equipment   92,082
Net cash used in by investing activities (156,029) (917,288) (16,509)
Cash flows from financing activities:      
Proceeds from short-term bank borrowings 6,604,675 3,329,425 1,815,706
Repayment of short-term bank borrowings (3,041,105) (1,910,598) (3,580,723)
Proceeds from long-term bank borrowings   1,361,779
Repayment of long-term bank borrowings (1,129,747) (173,709) (756,544)
Proceeds from other financial institution   642,107  
Repayments of loans from other financial institutions (274,929) (94,671)  
Repayments of obligations under capital leases (980,244) (1,078,425) (1,178,813)
Amounts advanced from related parties 10,238,023 9,263,395 7,304,612
Repayments to related parties (10,062,100) (10,766,291) (8,547,655)
Capital contribution   3,916,672
Capital distribution   (3,630,448)
Proceeds from initial public offering 10,958,803    
Net cash used in financing activities 12,313,376 (788,767) (3,295,414)
Effect of exchange rate change on cash 114,980 3,858 (31,513)
Net increase (decrease) in cash and restricted cash 11,382,118 (584,802) 455,561
Cash and restricted cash at beginning of the year 223,507 808,309 352,748
Cash and restricted cash at end of the year 11,605,625 223,507 808,309
Supplemental disclosure of cash flow information:      
Interest paid 310,675 370,682 345,654
Income tax paid 108,207 43,902 633,290
Supplemental non-cash investing and financing information:      
Non-cash capital leases to acquire revenue equipment 44,628 89,716 918,741
Capital contribution by offsetting debt   743,017
Uncollected receivable from disposal of revenue equipment 73,817 55,863 304,946
Amount due to related parties offset by other receivables   408,534
Non-cash capital leases offset by related parties   564,555 360,434
Purchase of revenue equipment paid by a related party   39,867  
Purchase of revenue equipment offset by receivables   15,082  
Professional fees paid by related parties   594,895  
Reconciliation to amounts on consolidated balance sheets:      
Cash 2,105,625 223,507 648,103
Restricted cash 9,500,000   160,206
Total cash $ 11,605,625 $ 223,507 $ 808,309