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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 $ (2,868,157) $ (16,186,085) $ (14,225,913)
Net profit/(loss) from discontinued operations 18,570,629 (13,650,763) (13,594,292)
Net loss from continuing operations (21,438,786) (2,535,322) (631,621)
Adjustments to reconcile net loss to net cash provided by operating activities:      
(Gain)/Loss of investment (84,634) 387,910 (165,713)
Allowance for expected credit losses 19,520,843
Imputed interest expense 736,941 1,250,000
Stock-base compensations for consulting service 10,133 140,467
Change in operating assets and liabilities      
Accounts receivable (180,000)
Other receivables (323,235)
Prepayments (10,367) 20,000 (20,000)
Other payables and accrued liabilities 61,846
Taxes payable 583
Due from discontinued operations (3,618,253) (2,542,000) (10,999,973)
Net cash used in operating activities from continuing operations (5,335,062) (3,409,279) (11,676,840)
Net cash provided by (used in) operating activities from discontinued operations 2,615,101 (1,814,592) 4,137,605
Net cash used in operating activities (2,719,961) (5,223,871) (7,539,235)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Cash deposit in escrow account (47,387,762) (4,800,000)
Purchase of short-term investment (15,000,000)
Proceeds for sale of short-term investment 8,073,774
Net cash used in investing activities from continuing operations (47,387,762) (4,800,000) (6,926,226)
Net cash provided by (used in) investing activities from discontinued operations 14,054 (470,805) (3,437,026)
Net cash used in investing activities (47,373,708) (5,270,805) (10,363,252)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net proceeds from issuance of common stock under F3 49,522,314
Net proceeds from issuance of common stock in initial public offering 22,846,983
Payments of offering costs (1,020,001)
Net proceeds from issuance of convertible bonds 2,947,762 5,000,000
Net proceeds from issuance of PIPEs 291,856
Refunds from escrow 96,932 503,068
Proceed from IPO placed in escrow (600,000)
Net cash provided by financing activities from continuing operations 52,567,008 5,794,924 21,226,982
Net cash (used in) provided by financing activities from discontinued operations (2,997,269) (255,827) 1,109,945
Net cash provided by financing activities 49,569,739 5,539,097 22,336,927
EFFECT OF EXCHANGE RATE CHANGES (28,715) (299,017) 176,449
NET CHANGE IN CASH (552,645) (5,254,596) 4,610,889
CASH, beginning of period 1,038,819 6,293,415 1,682,526
CASH, end of period 486,174 1,038,819 6,293,415
 CASH EQUIVALENTS AND RESTRICTED CASH FROM DISCONTINUED OPERATIONS      
LESS: CASH, CASH EQUIVALENTS AND RESTRICTED CASH FROM DISCONTINUED OPERATIONS 433,515 829,258 3,669,499
CASH, CASH EQUIVALENTS AND RESTRICTED CASH FROM CONTINUING OPERATIONS $ 52,659 $ 209,561 $ 2,623,916