Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.8.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash Flows from Operating Activities    
Net loss $ (4,720,702) $ (2,529,412)
Adjustments to reconcile net loss to net cash provided by (used for) operating activities:    
Depreciation and amortization 413,888 387,666
Stock-based compensation 1,136,835 22,600
Issuance of stock warrant 60,000 20,000
Changes in operating assets and liabilities:    
Accounts receivable - related parties 3,478,900
Inventories 1,055 (97,674)
Prepaid expenses (470,606) 116,327
Prepaid investment (460,000)
Other receivable - related parties (425)
Other receivable - others (29,332) 66,180
Deposits 679,874 (387,500)
Accrued expenses 439,606 (25,888)
Other payable - related parties (42,385) (2,382,397)
Other payable - others 614,799 664,092
Net Cash Used for Operating Activities (2,376,968) (667,531)
Cash Flows from Investing Activity    
Purchase of property and equipment (279,968) (3,677,337)
Net Cash Used for Investing Activity (279,968) (3,677,337)
Cash Flows from Financing Activity    
Proceed from short-term bank loan 10,000
Proceeds from issuance of common stock 1,800,022 3,599,729
Proceeds from subscribed capital 544,913 750,000
Net Cash Provided by Financing Activity 2,354,935 4,349,729
Net Increase (Decrease) in Cash (302,001) 4,861
Cash, Beginning of Period 312,173 19,498
Foreign currency translation effect on cash (3,606)
Cash, End of Period 6,566 24,359
Non-cash operating and financing activities:    
Restricted stock deposit liability transferred to common stock 2,890 3,979
Other payable to related parties transferred to common stock $ 2,027,400