Unaudited Condensed Consolidated Statements of Cash Flow - USD ($)
|
3 Months Ended |
Mar. 31, 2018 |
Mar. 31, 2017 |
| CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
| Net loss |
$ (656,175)
|
$ (111,185)
|
| Depreciation and amortization |
3,949
|
3,805
|
| Stock compensation |
466,886
|
|
| Adjustments to reconcile net loss to net cash provided by operating activities and changes in operating assets and liabilities: |
|
|
| (Increase)/decrease in accounts receivable |
|
(44)
|
| Increase in other receivables |
(344)
|
(6,019)
|
| Increase in advance to suppliers |
(1,303)
|
(6,210)
|
| (Increase)/decrease in prepaid expenses and taxes |
(1,712)
|
1,817
|
| Increase/(decrease in accounts payable |
58,112
|
(26,517)
|
| Decrease in accrued expenses |
(28,053)
|
(26,617)
|
| Increase/(decrease) in other payables |
138,893
|
(92,490)
|
| Decrease in taxes payable |
(2,038)
|
(1,161)
|
| Net cash provided by (used in) operating activities |
(21,785)
|
(264,621)
|
| CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
| Purchase of equipment |
|
(32,676)
|
| Decrease in deposits |
|
(931)
|
| Net cash generated from investing activities |
|
(33,607)
|
| CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
| (Increase)/decrease in related party receivables |
(1,274)
|
(10,214)
|
| Increase in related party payables |
47,961
|
151,093
|
| Net cash generated from financing activities |
46,687
|
140,879
|
| Net increase in cash and cash equivalents |
24,902
|
(157,349)
|
| Effect of foreign currency translation on cash and cash equivalents |
(18,222)
|
5,479
|
| Cash and cash equivalents, beginning balance |
10,346
|
480,609
|
| Cash and cash equivalents, ending balance |
17,027
|
328,739
|
| SUPPLEMENTAL DISCLOSURES: |
|
|
| Interest received |
22
|
1,155
|
| Interest paid |
|
|
| Income tax paid |
|
|