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UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (7,790,803) $ (6,265,067)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation 57,076 46,243
Amortization 582,730 462,000
loss of investment 434,669 0
Provision for doubtful accounts 1,532,710 387,319
Long live assets impairment 2,371,803
Deferred taxes expense (benefit) (38,125) 32,061
Amortization of ROU 153,308
Stock-base compensations for consulting service 10,134
Change in operating assets and liabilities    
Accounts receivable 1,636,428 68,902
Other receivables 931 (37,884)
Prepayments (45,538) 399,966
Long-term deposits (4,088) (997)
Accounts payable (1,077,656) 1,893,513
Deferred revenue 339,367 (147,023)
Other payables and accrued liabilities 395,898 20,743
Operating lease liability (138,934)
Taxes payable (41,662) (172,155)
Net cash used in operating activities (3,993,555) (940,576)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of equipment (432,119)
Purchase of software (540,714)
Purchase of short-term investment (12,640,078)
Net cash provided by (used in) investing activities (13,612,911)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net proceeds from issuance of common stock in initial public offering 20,915,816
Proceeds from bank loans 3,654,810 5,409,435
Repayment for bank loans (4,387,377) (3,894,262)
Repayment for short term loan - related party 47,756
Net cash (used in) provided by financing activities (732,567) 22,478,745
EFFECT OF EXCHANGE RATE CHANGES (146,501) (12,176)
NET CHANGE IN CASH (4,872,623) 7,913,082
CASH, beginning of period 6,293,415 1,682,526
CASH, end of period 1,420,792 9,595,608
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for income tax 1,515 124,415
Cash paid for interest 202,028 171,572
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Deferred initial offering costs net against additional paid-in capital 659,012
Initial recognition of operating right of use asset and lease liability 787,738
Elimination of operating right of use asset and lease liability upon termination of operating lease $ 772,501