XML 15 R6.htm IDEA: XBRL DOCUMENT v3.23.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Dec. 31, 2022
Cash flow from operating activities          
Net loss $ (35,894) $ (222,978) $ (235,214) $ (299,700)  
Adjustments to reconcile loss to net cash used in operating activities:          
Depreciation and amortization     268,484 293,363  
Changes in operating assets and liabilities:          
Account receivables – related parties     284,335 (1,149,851)  
Advances to vendors - related party     (45,329) 445,520  
Advance to vendors     29,099 (223,080)  
Other current assets     (93,012)  
Inventories     (478,853) 10,016  
Right-use-of asset     (1,365)  
Notes payables     (1,298,431) (266,247)  
Account payables     1,687,812 840,705  
Accounts payable - related parties     (156,438) 322,363  
Advances from customers     185,548 (186,481)  
Retainage payable     (37,733) (39,932)  
Other current liabilities     (208,564) 75,712  
Net cash used in operating activities     (98,296) (180,977)  
Cash flow from investing activities          
Other receivables – related party     (76,951)  
Purchase of equipment and factory construction     (1,954,715) (35,985)  
Net cash used in investing activities     (1,954,715) (112,936)  
Cash flow from financing activities          
Share issuance for cash     378,000  
Proceeds from related parties     373,930 177,563  
New borrowings       98,498  
Repayments of borrowings-related party     2,795 (69,256)  
Repayments of borrowings     (38,731) (184,457)  
Net cash provided by financing activities     715,994 22,348  
Effect of exchange rate changes     (9,825) (33,918)  
Decrease in cash     (1,346,842) (305,483)  
Cash and restricted cash, beginning     1,363,779 716,534 $ 716,534
Cash and restricted cash, ending $ 16,937 $ 411,051 16,937 411,051 $ 1,363,779
Supplemental disclosures of cash flow          
Interest paid     182,692 65,068  
Income taxes paid     16,309 3,919  
Noncash investing and financing activities:          
Construction in progress additions     $ 1,954,715