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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net (loss) income $ (938,413) $ 782,296 $ 1,642,794
Adjustments to reconcile net income to net cash provided (used in) by operating activities:      
(Gain) on disposals of equipment (25,070) (17,761) (25,558)
Provision for doubtful accounts 140,204 82,647 34,356
Written-off of allowance for doubtful accounts 136,602
Amortization of deferred financing fees 55,640 124,401 176,391
Depreciation for property and equipment 1,438,310 1,519,415 1,365,945
Deferred income tax (benefit) expenses (2,832) (10,381) 2,451
Changes in operating assets and liabilities      
Accounts receivable 1,633,476 5,842,238 (3,645,292)
Operating supplies 4,000
Prepayments (3,838,690) 644,525 292,288
Other receivables 3,444,875 466,187 (34,961)
Loans receivable (11,070,827) (10,653,588)
Deposits (9,470,731) (189,430) 33,692
Accounts payable (874,843) (240,887) 741,827
Other payables and accrued liabilities (2,989,501) 412,064 (314,380)
Tax payables (1,422,362) 348,065 843,842
Net cash (used in) provided by operating activities (23,784,162) (890,209) 1,117,395
Cash flows from investing activities:      
Purchases of equipment (199,481) (156,029) (917,288)
Cash from acquisition of subsidiary 1,477,065
Net cash provided by (used in) by investing activities 1,277,584 (156,029) (917,288)
Cash flows from financing activities:      
Proceeds from short-term bank borrowings 6,665,840 6,604,675 3,329,425
Repayment of short-term bank borrowings (7,433,187) (3,041,105) (1,910,598)
Proceeds from long-term bank borrowings 465,059
Repayment of long-term bank borrowings (22,146) (1,129,747) (173,709)
Proceeds from other financial institution 642,107
Repayments of loans from other financial institutions (300,279) (274,929) (94,671)
Repayments of obligations under capital leases (98,972) (980,244) (1,078,425)
Amounts advanced from related parties 6,787,477 10,238,023 9,263,395
Repayments to related parties (7,864,254) (10,062,100) (10,766,291)
Proceeds from initial public offering 10,958,803
Proceeds from private placement 18,465,009
Net cash provided by (used in) financing activities 16,664,547 12,313,376 (788,767)
Effect of exchange rate change on cash (11,477) 114,980 3,858
Net increase (decrease) in cash, cash equivalents and restricted cash (5,853,508) 11,382,118 (584,802)
Cash, cash equivalents and restricted cash at beginning of the year 11,605,625 223,507 808,309
Cash, cash equivalents and restricted cash at end of the year 5,752,117 11,605,625 223,507
Supplemental disclosure of cash flow information:      
Interest paid 396,187 310,675 370,682
Income tax paid 1,435,366 108,207 43,902
Supplemental non-cash investing and financing information:      
Non-cash capital leases to acquire revenue equipment 102,054 44,628 89,716
Uncollected receivable from disposal of revenue equipment 175,215 73,817 55,863
Non-cash capital leases offset by related parties 564,555
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 5,673,656 2,105,625 223,507
Cash equivalents 78,461
Restricted cash   9,500,000  
Total cash $ 5,752,117 $ 11,605,625 $ 223,507