XML 16 R6.htm IDEA: XBRL DOCUMENT v3.21.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (231,226) $ (2,677,655)
Adjustments to reconcile net loss from operations to net cash used in operating activities:    
Depreciation 33,769 33,842
Amortization of intangible assets 24,537 50,748
Written-off prepayments   122,514
Impairment loss on marketable securities   2,001,013
Gain on disposal of marketable securities (176,870)  
Loss on disposal of a subsidiary 70,901
Amortization of debt discount 2,821
Changes in operating assets and liabilities:    
Accounts receivable 12,982 (9,567)
Prepaid and other receivables 15,593 28,450
Accounts payable and accrued expenses (40,846) 3,063
Other payables 23,431 17,506
Income tax payable   (6,802)
Deferred revenue (107) 589
CASH FLOWS USED IN OPERATING ACTIVITIES (335,916) (365,392)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Dividend received 1,722
Purchase of marketable securities (15,750,381)
Proceed from disposal of marketable securities 14,739,214
Proceed from disposal of a subsidiary   8,251
CASH FLOWS (USED IN) PROVIDED BY INVESTING ACTIVITIES (1,009,445) 8,251
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayments of bank loan (30,555) (29,239)
Advance from related party 36,491 368,340
CASH FLOWS PROVIDED BY FINANCING ACTIVITIES: 5,936 339,101
Effect of exchange rate changes (21,646) (19,919)
Net change in cash and cash equivalents (1,361,071) (37,959)
Cash and cash equivalents - beginning of period 1,805,417 83,667
Cash and cash equivalents - end of period 444,346 45,708
Cash paid for:    
Interest 55,750 95,831
Income taxes
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Stock issued for director’s remuneration 500,000  
Stock issued for redemption of convertible note and accrued interest $ 104,167