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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash Flows From Operating Activities    
Net loss $ (8,505,696) $ (10,031,756)
Net loss from discontinued operations (326,531)
Loss From Continuing Operations (8,505,696) (9,705,225)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 62,055 42,805
Inventories write-down 5,526,307 7,767,910
Amortization of operating lease right-of-use assets 380,178 437,461
Deferred tax benefit (117,952)
Stock compensation expense 38,610 143,049
Changes in bad debt allowance (3,328) 2,429
(Increase) decrease in -    
Accounts receivable 332,870 (242,947)
Advance to suppliers 56,440 27,507,384
Inventories (491,056) (26,501,478)
Other current assets (387,526) (243,402)
Increase (decrease) in -    
Operating lease liabilities (348,917) (422,511)
Accounts payable (27,270) 179,675
Advance from customers 137,243 27,452
Accrued liabilities and other payables 171,218 59,570
Taxes payable (70,473) (26,105)
Net Cash Used in Operating Activities (3,129,345) (1,091,885)
Cash Flows From Investing Activities    
Purchase of property and equipment (155,156) (360,084)
Net Cash Used in Investing Activities (155,156) (360,084)
Cash Flows From Financing Activities    
Proceeds from equity financing, net 2,760,973
Proceeds from other loans 466,096
Net Cash Provided by Financing Activities 2,760,973 466,096
Net Cash Provided by Discontinued Operations 1,037,800
Effect of Exchange Rate Changes on Cash and Cash Equivalents (342,380) 413,290
Net (decrease) increase in cash and cash equivalents (865,908) 465,217
Cash and cash equivalents, beginning of period 8,744,784 8,885,398
Cash and cash equivalents, ending of period 7,878,876 9,350,615
Cash paid during period for:    
Income tax payments 251,067 55,000
Interest expense $ 4,801 $ 6,188