XML 20 R8.htm IDEA: XBRL DOCUMENT v3.22.4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended 12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net loss $ (3,689,085) $ (2,014,940) $ (3,897,513) $ (6,788,645)
Adjustments to reconcile net loss from operations to net cash used in operating activities:        
Depreciation 95,292 100,031 135,561 134,691
Amortization of intangible assets 19,599 73,612 98,149 202,992
Gain on disposal of property, plant and equipment (25,197)    
Impairment loss of intangible assets     750,000
Impairment loss of other receivables     705,000
Impairment loss of marketable securities     1,951,091
Impairment loss of goodwill     27,353 82,692
Written-off prepayment     122,514
Stock-based professional fees 1,051,410 523,008
Stock-based consultancy fees 240,000 599,220 2,061,450
Stock-based director’s remuneration 803,735    
Stock-based business marketing fee     599,220
Loss on disposal of a subsidiary     70,900
Amortization of debt discount 2,821 2,822 7,179
Unrealized loss on marketable securities 1,278,939 (1,143,491) (428,621)
Loss/(gain) on disposal of marketable securities 22,013 (774,371) 607,309 (292,126)
Dividend received (241,472)    
Changes in operating assets and liabilities:        
Accounts receivable (113,711) (64,035) (102,369) (38,509)
Prepaid and other receivables 189,092 (295,230) (174,655) 14,725
Accounts payable and accrued expenses 14,384 (25,003) 20,666 748,366
Other payables 51,987 183,969 209,820 697,252
Income tax payable     (6,802)
Deferred revenue (107) (107) 107
CASH FLOWS USED IN OPERATING ACTIVITIES (1,354,424) (1,162,623) (1,504,541) (1,544,186)
CASH FLOWS FROM INVESTING ACTIVITIES:        
Purchase of marketable securities (320,456) (18,318,917) (22,237,565) (11,482,148)
Purchase of non-controlling interest     (154)
Purchase of property, plant and equipment (7,949) (47,722) (47,722)
Proceed from disposal of marketable securities 275,274 17,254,369 21,128,705 12,803,705
Proceed from disposal of property, plant and equipment 30,692    
Proceeds from disposal of a subsidiary     8,252
Dividend received 241,472 12,515 12,515 3,052
CASH FLOWS PROVIDED BY (USED IN) INVESTING ACTIVITIES 219,033 (1,099,755) (1,144,067) 1,332,707
CASH FLOWS FROM FINANCING ACTIVITIES:        
Repayments of bank loan (294,782) (816,102) (917,728) (58,824)
Proceeds from bank loan 666,704 1,735,147
Proceeds from issuance of note payable 535,900 710,258 183,000
Advance from related party 715,058 1,014,609 1,180,190 102,871
CASH FLOWS PROVIDED BY FINANCING ACTIVITIES: 1,086,980 734,407 972,720 1,962,194
Effect of exchange rate changes 6,067 (65,560) (63,256) (28,965)
Net change in cash and cash equivalents (42,344) (1,593,531) (1,739,144) 1,721,750
Cash and cash equivalents - beginning of period 66,273 1,805,417 1,805,417 83,667
Cash and cash equivalents - end of period 23,929 211,886 66,273 1,805,417
Cash paid for:        
Interest 156,167 168,646 206,778 263,369
Income tax    
NON-CASH INVESTING AND FINANCING ACTIVITIES:        
Accrued interest on convertible promissory note     171,137
Stock issued for redemption of convertible note and accrued interest 616,300 204,267 204,267 477,820
Interest 163,080 152,153    
Stock issued for director’s remuneration 551,244    
Stock issued for services from consultants and vendors $ 1,650,630 $ 478,008