v3.25.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash Flows from Operating Activities:    
Net income $ (3,503,785) $ (3,746,536)
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 3,547,398 3,481,788
(Gain) Loss on derivative liability (4,553) (34)
Allowance for bad debts 37,566 36,942
Allowances for inventories, net (31,453) (2,951)
Deferred tax
Changes in operating assets and liabilities:    
Accounts receivable (1,878,313) (1,847,112)
Prepayments and other current assets 1,262,163 1,276,805
Inventories (2,256,756) 59,612
Accounts payable (1) 236,603
Advance from customers (25,123)
Notes payable 246,299
Related parties 19,758 (187,484)
Accrued payroll and employee benefits 119,290 73,213
Other payables and accrued liabilities 294,777 1,022,398
Income taxes payable (81,069)
Net Cash (Used in) Provided by Operating Activities (2,474,978) 624,420
Cash Flows from Investing Activities:    
Purchases of property, plant and equipment (8,364) (9,027)
Net Cash Used in Investing Activities (8,364) (9,027)
Cash Flows from Financing Activities:    
Proceeds from short term bank loans 585,456 422,488
Net Cash Provided by Financing Activities 585,456 422,488
Effect of Exchange Rate Changes on Cash and Cash Equivalents 17,670 (12,242)
Net (Decrease) Increase in Cash and Cash Equivalents (1,880,216) 1,025,639
Cash, Cash Equivalents and Restricted Cash - Beginning of Period 6,950,576 4,391,921
Cash, Cash Equivalents and Restricted Cash - End of Period 5,070,360 5,417,560
Supplemental Disclosure of Cash Flow Information:    
Cash paid for interest, net of capitalized interest cost 120,371 137,340
Cash paid for income taxes 81,069 36,793
Cash and bank balances 4,034,428 4,514,020
Restricted cash 1,035,932 903,540
Total cash, cash equivalents and restricted cash shown in the statement of cash flows $ 5,070,360 $ 5,417,560