Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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 $ (2,367,118) $ (3,270,781)
Adjustments to reconcile net loss to    
Bad debt provision 4,698
Depreciation 78,875 76,535
Amortization of straight-line rent receivable 943 16,988
Amortization of right-of-use asset 27,531
Stock-based compensation and service expense 573,982 1,189,101
Loss on equity method investment 18,514 9,084
Loss on fixed assets disposal 2,648
Changes in operating assets and liabilities:    
Accounts receivable - related party 85,932
Rent receivable 13,647 (23,733)
Security deposit 6,003
Deferred leasing costs (2,364)
Prepaid expenses and other current assets (40,803) (96,669)
Accrued liabilities and other payables 163,442 (38,817)
Accrued liabilities and other payables - related parties 45,149 28,218
Operating lease obligation (33,326) 18,000
NET CASH USED IN OPERATING ACTIVITIES (1,515,525) (1,998,796)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Additional investment in equity method investment (30,844)
NET CASH USED IN INVESTING ACTIVITIES (30,844)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds received from loan payable - related party 105,249 300,000
Proceeds received from equity offering 2,481,405 1,623,584
Disbursements for equity offering costs (74,442) (48,707)
NET CASH PROVIDED BY FINANCING ACTIVITIES 2,512,212 1,874,877
EFFECT OF EXCHANGE RATE ON CASH 120 (5,701)
NET INCREASE (DECREASE) IN CASH 965,963 (129,620)
CASH - beginning of period 726,577 764,891
CASH - end of period 1,692,540 635,271
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Common stock issued for future services 57,207
Common stock issued for accrued liabilities $ 261,032