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 ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (4,504,929) $ (1,550,969)
Adjustments to reconcile net loss from operations to net cash used in operating activities:    
Depreciation and amortization 139,131 123,379
Stock-based compensation expense 2,272,747 526,348
Loss on equity method investment 12,743
Changes in operating assets and liabilities,    
Accounts receivable (1,305) 3,469
Tenants receivable (5,573) 479
Inventory (3,947) (7,372)
Prepaid expenses - related parties 34,814
Prepaid expenses and other current assets 197,829 75,693
Security deposit (37) 5,284
Accounts payable 34,080 (30)
Advance from customer - related party (15,115)
Accrued liabilities and other payables 346,694 178,136
Accrued liabilities and other payables - related parties 34,326 (14,498)
Deferred rental income (11,124) (5,515)
Interest payable 24,658 236,986
Interest payable - related party 1,944
VAT and other taxes payable 20,873 31,264
Tenants' security deposit (120) (18,888)
NET CASH USED IN OPERATING ACTIVITIES (1,422,311) (416,234)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (76,033) (7,852)
Improvement of commercial real estate (11,338)
NET CASH USED IN INVESTING ACTIVITIES (87,371) (7,852)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds received from note payable - related party 1,000,000
Repurchase of common stock (522,500)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 1,000,000 (522,500)
EFFECT OF EXCHANGE RATE ON CASH 26,686 45,209
NET DECREASE IN CASH (482,996) (901,377)
CASH - beginning of period 2,252,287 3,027,033
CASH - end of period 1,769,291 2,125,656
Cash paid for:    
Interest 1,039
Income taxes
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Property and equipment acquired on credit as payable 84,348
Acquisition of equipment by decreasing prepayment for long-term assets $ 110,103