Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (4,732,028) $ (6,327,163)
Adjustments to reconcile net loss to net cash used in operating activities:    
Bad debt provision 4,664
Depreciation 141,285 152,579
Amortization of straight-line rent receivable 4,934 16,910
Amortization of right-of-use asset 60,254
Stock-based compensation and service expense 1,086,546 2,448,748
Loss on equity method investment 33,932 20,416
Loss on fixed assets disposal 2,628
Changes in operating assets and liabilities:    
Accounts receivable - related party 213,274
Rent receivable 12,093 (36,749)
Security deposit 6,015
Deferred leasing costs 5,492
Prepaid expenses and other current assets 42,555 (124,246)
Accrued liabilities and other payables 714,348 (385,791)
Accrued liabilities and other payables - related parties 91,280 83,828
Operating lease obligation (60,254) 6,000
NET CASH USED IN OPERATING ACTIVITIES (2,593,548) (3,924,902)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Improvement of commercial real estate (10,332)  
Additional investment in equity method investment (40,179) (28,437)
NET CASH USED IN INVESTING ACTIVITIES (50,511) (28,437)
CASH FLOWS FROM FINANCING ACTIVITIES    
Repayments of note payable - related party   (200,000)
Proceeds received from loan payable - related party 193,188 300,000
Proceeds received from equity offering 2,481,405 4,703,890
Disbursements for equity offering costs (74,442) (361,947)
NET CASH PROVIDED BY FINANCING ACTIVITIES 2,600,151 4,441,943
EFFECT OF EXCHANGE RATE ON CASH 2,635 (4,394)
NET (DECREASE) INCREASE IN CASH (41,273) 484,210
CASH - beginning of period 726,577 764,891
CASH - end of period 685,304 1,249,101
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Common stock issued for future services 234,750 17,500
Common stock issued for accrued liabilities 261,032
Deferred financing costs in accrued liabilities 16,093 33,025
Accrued professional fees relieved for shares issued $ 202,500