Quarterly report pursuant to Section 13 or 15(d)

Unaudited Condensed Consolidated Statements of Cash Flows

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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (8,943,752) $ (2,894,784)
Adjustments to reconcile net loss from operations to net cash used in operating activities:    
Depreciation and amortization 284,494 247,975
Stock-based compensation and service expense 4,717,907 1,082,923
Loss on equity method investment 23,087
Changes in warrants derivative liabilities (461,493)
Allocation of financing expence 525,418
Chang in operating assets and liabilities:    
Accounts receivable (92,113) (67,542)
Accounts receivable-related parties (150,516)
Tenants receivable 12,980 (58)
Inventory (74) (19,892)
Prepaid expenses - related parties 34,629
Prepaid expenses and other current assets 379,070 (153,785)
Security deposit 100,000 (308,694)
Accounts payable 41,286 1,740
Advance from customer - related party (15,030)
Accrued liabilities and other payables (472,671) 176,584
Accrued liabilities and other payables - related parties 3,633 9,811
Deferred rental income (350) (1,587)
Interest payable (75,342) (113,179)
Interest payable - related party 14,583
VAT and other taxes payable 6,143 9,850
Tenants' security deposit (2,663) (18,888)
NET CASH USED IN OPERATING ACTIVITIES (3,920,258) (2,200,042)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (140,400) (10,192)
Prepayment for purchase of long-term assets (22,606)
Improvement of commercial real estate (10,588) (165,155)
NET CASH USED IN INVESTING ACTIVITIES (150,988) (197,953)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds received from note payable - related party 1,000,000
Refund deposit in connection with Share Subscription Agreement- (1,000,000)
Proceeds received from equity offering 6,000,008 5,437,250
Disbursements for equity offering costs (896,304) (380,607)
Repayment of loan payable (1,000,000) (500,000)
Repurchase of common stock (522,500)
NET CASH PROVIDED BY FINANCING ACTIVITIES 5,103,704 3,034,143
EFFECT OF EXCHANGE RATE ON CASH 116,559 (19,865)
NET INCREASE IN CASH 1,149,017 616,283
CASH CASH AND CASH EQUIVALENTS AND RESTRICTED CASH - beginning of period 2,252,287 3,027,033
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH - end of period 3,401,304 3,643,316
Cash paid for:    
Interest 1,039 375,096
Income taxes
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Property and equipment acquired on credit as payable 25,896
Acquisition of equipment by decreasing prepayment for long-term assets 109,889
Common stock issued for future services $ 405,250