v3.23.1
Condensed Consolidated Statements of Cash Flows
 3 Months Ended 12 Months Ended
Mar. 31, 2023
USD ($)
Mar. 31, 2022
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Cash flows from operating activities        
Net income $ 2,793,249 $ 2,562,513 $ 8,730,446 $ 17,385,966
Adjustments to reconcile net income to cash provided by operating activities        
Bad debts reversal     (76,492)
Inventory write-off     74,100
Depreciation and amortization 2,433 2,622 9,891 381,167
Asset disposal gain     (7,648,423)
Loss of input VAT credits     356,073
Share-based compensation     3,149,106
Loss on convertible promissory notes payable     96,927
Amortization of discounts and issuance cost of the notes 6,941 12,655 148,368 8,550
Gain on changes in fair value of common stock purchase warrants liability 97,602 (160,443) (871,677) (759,471)
Changes in operating assets and liabilities:        
Accounts receivable (4,004,967) (6,350,920) (1,497,237) 4,994,861
Amounts due from related parties (1,076) 83,849
Inventories 254,727 (11,620) (197,453) 190,490
Prepaid expenses and other current assets 307,380 741,854 853,426 (2,258,602)
Accounts payable 702,052 429,214 637,372 (167,186)
Amounts due to related parties (1,344) (53,472) (18,055) (575,329)
Income tax payable 1,383,069 933,794 (41,068) (50,424)
Accrued expenses and other current liabilities 1,176,473 456,056 661,203 (233,882)
Deferred grants     (728,818)
Net cash provided by operating activities 2,716,539 (1,437,747) 8,586,243 14,051,434
Cash flows from investing activities        
Purchase of property and equipment     (11,695,448)
Proceeds from assets disposal     17,859,076
Net cash provided by investing activities 6,163,628
Cash flows from financing activities        
Proceeds from issuance of convertible promissory notes payable     2,025,000
Payments of issue costs of convertible promissory note     (162,000)
Proceeds from stock issuance of private placement 40,000,000    
Proceeds from interest-free advances from a third party 86,735 385,791
Repayments of convertible promissory notes payable (35,000) (1,038,426)
Net cash provided by (used in) financing activities 40,051,735 (652,635) 1,863,000
Effect of changes of foreign exchange rates on cash (760,531) 94,476 (2,846,807) 121,781
Net increase in cash 42,007,743 (1,343,271) 5,086,801 22,199,843
Cash, beginning of year 51,250,505 46,163,704 46,163,704 23,963,861
Cash, end of year 93,258,248 44,820,433 51,250,505 46,163,704
Supplemental disclosures of cash flow information        
Interest paid     10,000
Income taxes paid $ 22,330 $ 1,001,305 3,391,137 3,774,917
Non-cash financing activities        
Warrants issued to third parties in conjunction with debt issuance     1,888,106
Cashless stock issuance for convertible promissory notes payable     $ 284,654