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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Operating activities    
Net income $ 1,006,415 $ 295,188
Adjustment to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation and amortization expense 498,919 540,119
Amortization of debt discount 281,354 624,683
Gain on disposal of property (2,484,172)
Loss on debt extinguishment 277,175
Forgiveness of federal relief loan (104,368)
Penalty on promissory notes 34,688 60,075
Amortization of right of use asset 177,220 260,745
Deferred taxation movement (217,451) (55,606)
Changes in operating assets and liabilities    
Accounts receivable 78,037 (215,364)
Prepaid expenses 26,562 (14,996)
Other current assets 5,513 (3,113)
Accounts payable and accrued liabilities 201,978 305,785
Operating lease liabilities (179,184) (241,083)
Taxes payable (237,211) 125,014
Net cash (used in) provided by operating activities (530,157) 1,577,079
Investing activities    
Acquisition of real property, net of $400,000 deposit paid (5,209,276)
Proceeds on disposal of real property 8,093,448
Purchase of property and equipment (40,602) (315,822)
Proceeds on sale of subsidiary, net of cash of $1,421 (1,421)
Proceeds from deposits 4,984
Investment in deposits (389,000) (400,000)
Net cash provided by (used in) investing activities 2,454,570 (712,259)
Financing activities    
Repayment of mortgage (58,320) (117,073)
Proceeds from convertible notes 150,000
Repayment of convertible notes (1,153,666)
Proceeds from promissory notes 447,000 160,000
Repayment of promissory notes (568,325) (289,044)
Proceeds from receivables funding 580,646 682,500
Repayment of receivables funding (994,483) (330,312)
Repayment of government assistance loans (14,579) (2,970)
Repayment of third party loans (283,746) (76,856)
Repayment of finance leases (7,943) (7,437)
(Repayment) proceeds of related party notes (174,012) 284,906
Net cash (used in ) provided by financing activities (2,077,428) 303,714
Effect of exchange rate on cash 80,831 (1,076,599)
Net change in cash (72,184) 91,935
Beginning cash balance 140,757 48,822
Ending cash balance 68,573 140,757
Supplemental cash flow information    
Cash paid for interest 425,117 234,240
Cash paid for income taxes
Non-cash investing and financing activities    
Fair value of warrant issued on debt extinguishment 271,939
Disposal of subsidiary to related party 1,334,885
Deemed extinguishment of debt by related party 461,184
Conversion of convertible notes $ 150,000