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Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net loss $ (2,839,224) $ (5,390,213)
Adjustments to reconcile net loss to net cash used in operating activities    
Bad debts 75,612
Depreciation and amortization 165,115 863,917
Amortization of right of use assets 131,858 134,455
Gain from early lease termination (1,064)
Stock based compensation for services 330,000 1,886,793
Treasury stock 487,240
Written-off of fixed assets 8,461
Deferred tax assets 4,611
Accounts receivable (75,522) 93,216
Inventories 51,747 81,922
Deposits, prepayments and other receivables 323,388 768,803
Contract assets 126,909 15,239
Contract liabilities 4,467 (140,365)
Accounts payables 137,303 166,895
Accrued liabilities and other payables (1,129,221) (2,376,133)
Advances to related parties (333) (65)
Operating lease liabilities (163,897) (118,601)
Net cash used in operating activities (2,361,485) (4,015,201)
Cash flows from investing activities:    
Purchase of property, plant, and equipment (190,061)
Net cash used in investing activities (190,061)
Cash flows from financing activities:    
Repurchase of common share (487,240) (541,988)
Proceed from the Sale of treasury stock 476,961  
Net cash used in financing activities (10,279) (541,988)
Effect on exchange rate change on cash and cash equivalents 321,014 (428,145)
NET CHANGE IN CASH AND CASH EQUIVALENTS (2,050,750) (5,175,395)
CASH AND CASH EQUIVALENT AT BEGINNING OF YEAR 3,723,982 19,003,336
CASH AND CASH EQUIVALENT AT END OF YEAR 1,673,232 13,827,941
Supplemental disclosure of cash flow information:    
Cash paid for interest 173
Cash paid for income tax
Reconciliation to amounts on condensed unaudited consolidated balance sheets:    
Cash and cash equivalents 1,619,232 13,755,377
Restricted cash 54,000 72,564
Total cash, cash equivalents and restricted cash $ 1,673,232 $ 13,827,941