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Consolidated Statements of Cash Flows - USD ($)
9 Months Ended 12 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Dec. 31, 2022
Cash flow from operating activities        
Net (loss) income $ (1,773,183) $ (591,529) $ (1,398,144) $ 757,381
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:        
Depreciation and amortization 523,829 393,842 599,436 660,784
Changes in operating assets and liabilities:        
Accounts receivables (2,381) (127,607) (130,624)
Accounts receivables – related parties (3,267,107) 1,004,502 (677,340) (2,068,248)
Advances to vendors - related parties (27,798) (192,007) (241,111) 426,155
Advance to vendors 2,026,571 27,364 62,558 (10,173)
Other current assets (10,891) (100,380) (41,946)
Inventories 15,004 (345,422) 541,672 (938,790)
Right-of-use assets (21,057)
Notes payable (1,249,585) (1,279,128) 731,649
Accounts payables 11,165 2,115,321 2,705,565 2,142,552
Accounts payables - related parties 136,707 (749,379) (71,998) 438,112
Advances from customers 143,867 147,438 (330,004)
Retainage payable (36,313) (37,172) (698,320)
Other current liabilities 134,606 (145,077) (263,284) 162,307
Net cash (used in) provided by operating activities (2,233,478) 147,597 (84,078) 1,252,348
Cash flow from investing activities        
Loan receivable (194,536) (75,817)
Purchase of equipment and factory construction (41,686) (2,364,359) (3,017,818) (2,504,738)
Net cash used in investing activities (236,222) (2,364,359) (3,017,818) (2,580,555)
Cash flow from financing activities        
Share issuances for cash 399,000 399,000
Proceeds from to related parties 1,029,183 94,978 318,471 2,398,588
Repayments of borrowings-related parties (28,263) (94,468)
New borrowings 6,072,312 4,118,118 7,150,529 1,981,864
Repayments of borrowings (4,645,697) (3,626,600) (6,028,058) (2,380,856)
Net cash provided by financing activities 2,455,798 985,496 1,811,679 1,905,128
Effect of exchange rate changes 833 (88,504) (31,875) 70,325
Increase in cash (13,069) (1,319,770) (1,322,092) 647,246
Cash and restricted cash, beginning 41,687 1,363,779 1,363,779 716,533
Cash and restricted cash, ending 28,618 44,009 41,687 1,363,779
Supplemental disclosures of cash flow        
Interest paid 224,479 129,099 207,078 94,572
Income taxes paid 19,046 89,876 106,101 3,861
Noncash investing and financing activities        
Construction in progress additions $ 2,364,359 $ 2,917,906