v3.10.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Cash Flows From Operating Activities    
Net loss $ (6,689,157) $ (6,241,404)
Adjustments to reconcile net loss to net cash used for operating activities:    
Depreciation and amortization 573,541 421,811
Stock-based compensation 1,147,155 1,740,446
R&D expenses transferred from inventory and construction in progress 732,828
Changes in operating assets and liabilities:    
Accounts receivable (1,745,000)
Inventories 1,230
Prepaid expenses (1,116,521) (262,878)
Other receivable - related party 162,335
Other receivable - others 424,675 181,278
Temporary deposit - related party (100,067)
Other current assets (10,134)
Deposits - related party 80 6,511
Deposits - others 43,392 660,132
Accounts payable 1,650,000
Accrued expenses (469,049) 450,419
Other payable - related parties (350,280) (2,350,334)
Other payable - others (695,276) 216,945
Net Cash Used for Operating Activities (6,603,813) (5,013,509)
Cash Flows from Investing Activities    
Prepaid investment 360,000
Prepayment on land and satellite equipment (33,850,000)
Purchase of property and equipment (762,670) (273,015)
Acquisitions of goodwill (24,798)
Net Cash (Used for) Provided by Investing Activities (34,637,468) 86,985
Cash Flows from Financing Activities    
Proceeds from (Repayment of) short-term bank loan (10,000) 10,000
Repayment of short-term loan - related parties (325,040)
Proceeds from issuance of common stock 41,262,899 2,887,428
Payment on repurchase of restricted stock (700)
Proceeds from subscribed capital 1,527,513
Issuance of stock warrant 223,700 30,000
Net Cash Provided by Financing Activities 41,150,859 4,454,941
Net Increase (Decrease) in Cash (90,422) (471,583)
Cash from acquired subsidiaries 2,354
Cash, Beginning of Period 58,237 490,840
Foreign Currency Translation Effect on Cash 120,494 (107)
Cash, End of Period 88,309 21,504
Supplemental disclosures of cash flow information:    
Cash paid during the period for income taxes 4,061 6,239
Cash paid during the period for interest 2,008 131
Non-cash Operating and Financing Activities:    
Restricted stock deposit liability transferred to (from) common stock (1,686) 2,315
Other payable to related parties transferred to subscribed capital 2,027,400
Total payment for acquisition of subsidiaries    
Cash 14,527 5,704
Prepaid expenses 4,317 16,500
Other receivable - related party 43,448 210,259
Property and equipment - net 5,152
Goodwill 24,798 344,594
Accrued expenses (60,640)
Other payable (518,219)
Total payment for acquisition of subsidiaries $ 87,090 $ 3,350

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