Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (3,270,781) $ (4,504,929)
Adjustments to reconcile net loss to net cash used in operating activities:    
Bad debt provision 4,698
Depreciation and amortization 76,535 139,131
Decrease in straight-line rent receivable 16,988
Stock-based compensation and service expense 1,189,101 2,272,747
Loss on equity method investment 9,084 12,743
Loss on fixed asset disposal 2,648
Changes in operating assets and liabilities,    
Accounts receivable (1,305)
Accounts receivable - related party 85,932
Rent receivable (23,733) (5,573)
Prepaid expenses - related parties 34,814
Prepaid expenses and other current assets (96,669) 193,845
Accrued liabilities and other payables (39,760) 415,181
Accrued liabilities and other payables - related parties 28,218 21,155
Operating lease obligation 18,000
Tenants' security deposit 943 (120)
NET CASH USED IN OPERATING ACTIVITIES (1,998,796) (1,422,311)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (76,033)
Improvement of commercial real estate (11,338)
NET CASH USED IN INVESTING ACTIVITIES (87,371)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds received from note payable - related party 1,000,000
Proceeds received from loan payable - related party 300,000
Proceeds received from equity offering 1,623,584
Disbursements for equity offering costs (48,707)
NET CASH PROVIDED BY FINANCING ACTIVITIES 1,874,877 1,000,000
EFFECT OF EXCHANGE RATE ON CASH (5,701) 26,686
NET DECREASE IN CASH (129,620) (482,996)
CASH  - beginning of period 764,891 2,252,287
CASH - end of period 635,271 1,769,291
Cash paid for:    
Interest 1,039
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Property and equipment acquired on credit as payable 84,348
Common stock issued for future services $ 57,207