v3.19.1
Consolidated Statements of Cash Flows - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
Mar. 31, 2018
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2018
Dec. 31, 2017
Cash Flows From Operating Activities          
Net loss $ (1,459,183) $ (6,689,157) $ (6,241,404) $ (8,148,340) $ (7,132,464)
Adjustments to reconcile net loss to net cash used for operating activities:          
Depreciation and amortization 142,940 573,541 421,811 716,481 551,767
Stock-based compensation 275,806 1,147,155 1,740,446 1,422,961 1,749,446
R&D expenses transferred from inventory and construction in progress 732,828 732,828
Changes in operating assets and liabilities:          
Accounts receivable (1,745,000) (1,745,000)
Inventories 1,230 1,055
Prepaid expenses (210) (1,116,521) (262,878) (1,116,731) (521,949)
Other receivable - related party 46,743 162,335 (53,324) 162,335
Other receivable - others (14,901) 424,675 181,278 409,774 (318)
Temporary deposit - related party (100,067)
Other current assets 5,389 (10,134) (4,745)
Deposits - related party (7,566) 80 6,511 (66) 2,570
Deposits - others (146) 43,392 660,132 35,826 660,132
Accounts payable 1,650,000 1,650,000
Accrued expenses 243,539 (469,049) 450,419 (225,510) 506,822
Other payable - related parties 217,183 (350,280) (2,350,334) (133,097) (2,373,180)
Other payable - others 182,850 (695,276) 216,945 (512,426) 392,299
Net Cash Used for Operating Activities (367,556) (6,603,813) (5,013,509) (6,971,369) (6,001,485)
Cash Flows from Investing Activities          
Prepaid investment 360,000
Prepayment on land and satellite equipment (33,850,000) (33,850,000)
Purchase of property and equipment (6,352) (762,670) (273,015) (769,022) (273,015)
Acquisitions of goodwill (24,798) (24,798)
Net Cash Provided by (Used for) Investing Activities (6,352) (34,637,468) 86,985 (34,643,820) (273,015)
Cash Flows from Financing Activities          
Proceeds from (Repayment of) short-term bank loan (10,000) 10,000 (10,000) 10,000
Proceeds from (Repayment of) short-term loan - related party 325,040 (325,040)
Proceeds from issuance of common stock 41,262,899 2,887,428 41,318,899 5,839,901
Payment on repurchase of restricted stock (700) (700)
Proceeds from subscribed capital 56,000 1,527,513 75,040
Issuance of stock warrant 26,667 223,700 30,000 250,367 60,000
Net Cash Provided by Financing Activities 407,707 41,150,859 4,454,941 41,558,566 5,984,941
Net (Decrease) Increase in Cash 33,799 (90,422) (471,583) (56,623) (289,559)
Cash from acquired subsidiaries 2,354 2,354
Cash, Beginning of Period 21,504 58,237 490,840 21,504 312,173
Foreign Currency Translation Effect on Cash 2,934 120,494 (107) 123,428 (3,464)
Cash, End of Period 58,237 88,309 21,504 88,309 21,504
Supplemental disclosures of cash flow information:          
Cash paid during the period for income taxes 4,061 6,239 4,061 6,239
Cash paid during the period for interest 113 2,008 131 2,121 131
Non-cash Operating and Financing Activities:          
Construction in progress transferred to other receivable 410,000
Restricted stock deposit liability transferred to (from) common stock 42 (1,686) 2,315 (1,644) 3,287
Other payable to related parties transferred to subscribed capital 2,027,400 2,027,400
Total payment for acquisition of subsidiaries          
Cash 14,527 5,704 14,527 5,704
Prepaid expenses 4,317 16,500 4,317 16,500
Other receivable - related party 43,448 210,259 43,448 210,259
Property and equipment - net 5,152 5,152
Goodwill 24,798 344,594 24,798 344,594
Accrued expenses (60,640) (60,640)
Other payable (518,219) (518,219)
Total payment for acquisition of subsidiaries $ 87,090 $ 3,350 $ 87,090 $ 3,350

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