Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.20.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (6,327,163) $ (8,943,752)
Adjustments to reconcile net loss to net cash used in operating activities:    
Bad debt provision 4,664
Depreciation and amortization 152,579 284,494
Amortization of straight-line rent receivable 16,910
Stock-based compensation and service expense 2,448,748 4,717,907
Loss from equity method investment 20,416 23,087
Loss on fixed asset disposal 2,628
Changes in warrants derivative liabilities (461,493)
Allocated financing costs 525,418
Changes in operating assets and liabilities:    
Accounts receivable (92,113)
Accounts receivable - related party 213,274
Rent receivable (36,749) 12,980
Prepaid expenses - related parties 34,629
Prepaid expenses and other current assets (124,246) 378,996
Security deposit 100,000
Accrued liabilities and other payables (386,734) (500,934)
Accrued liabilities and other payables - related parties 83,828 3,186
Operating lease obligation 6,000
Tenants' security deposit 943 (2,663)
NET CASH USED IN OPERATING ACTIVITIES (3,924,902) (3,920,258)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (140,400)
Improvement of commercial real estate (10,588)
Additional investment in equity method investment (28,437)
NET CASH USED IN INVESTING ACTIVITIES (28,437) (150,988)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds received from note payable - related party 1,000,000
Repayments of note payable - related party (200,000)
Proceeds received from loan payable - related party 300,000
Proceeds received from offering 4,703,890 6,000,008
Disbursements for offering costs (361,947) (896,304)
Repayments of loan payable (1,000,000)
NET CASH PROVIDED BY FINANCING ACTIVITIES 4,441,943 5,103,704
EFFECT OF EXCHANGE RATE ON CASH (4,394) 116,559
NET INCREASE IN CASH 484,210 1,149,017
CASH - beginning of period 764,891 2,252,287
CASH - end of period 1,249,101 3,401,304
Cash paid for:    
Interest 1,039
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Property and equipment acquired on credit as payable 25,896
Common stock issued for future services 17,500
Deferred financing costs in accrued liabilities $ 33,025