Cash Flow

v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (6,756,247) $ (9,579,122)
Adjustments to reconcile net loss to net cash used in operating activities:    
Bad debt provision 6,252 4,689
Depreciation 226,735 232,772
Change in straight-line rent receivable (59,117) (15,947)
Amortization of right-of-use asset 93,342
Stock-based compensation and service expense 1,621,452 3,965,164
Loss on equity method investment 48,135 35,382
Loss on fixed assets disposal 2,643
Changes in operating assets and liabilities:    
Accounts receivable - related party 214,454
Rent receivable 1,802 (94,349)
Rent receivable - related party (21,000)  
Security deposit 6,826
Deferred leasing costs 13,348
Prepaid expenses and other assets 21,218 (352,526)
Accrued liabilities and other payables 1,435,548 (679,815)
Accrued liabilities and other payables - related parties 141,528 75,457
Operating lease obligation (87,342) 6,000
NET CASH USED IN OPERATING ACTIVITIES (3,307,520) (6,185,198)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (17,449)  
Improvement of commercial real estate (10,332)  
Additional investment in equity method investment (40,179) (28,594)
NET CASH USED IN INVESTING ACTIVITIES (67,960) (28,594)
CASH FLOWS FROM FINANCING ACTIVITIES    
Repayments of note payable - related party   (200,000)
Proceeds received from loan payable - related party 763,189 300,000
Proceeds received from equity offering 2,518,708 7,233,678
Disbursements for equity offering costs (103,561) (491,895)
NET CASH PROVIDED BY FINANCING ACTIVITIES 3,178,336 6,841,783
EFFECT OF EXCHANGE RATE ON CASH 2,818 2,628
NET (DECREASE) INCREASE IN CASH (194,326) 630,619
CASH - beginning of period 726,577 764,891
CASH - end of period 532,251 1,395,510
Cash paid for:    
Interest 50,000
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Common stock issued for future services 258,655 25,996
Common stock issued for accrued liabilities 276,032
Deferred financing costs in accrued liabilities 165,024 13,390
Accrued professional fees relieved for shares issued 202,500
Improvement of commercial real estate acquired on credit as payable $ 38,400

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