v3.25.2
Unaudited Interim Condensed Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
Mar. 31, 2025
Mar. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss from continuing operation $ (1,028,074) $ (3,135,450)
Net loss discontinued operation (228,778) (1,528,964)
Adjustments to reconcile net loss to net cash used in operating activities:    
Allowance for credit losses 30,926 78,788
Imputed interest on a related party loan (84,342)
Provision for inventories 30,507 42,221
Depreciation and amortization 332,349 332,367
Share-based compensation 21,250 360,738
Gain on short-term investments (17,778)
Fair value changes in contingent asset 310,667
Loss from long-term investment 93,799 45,906
Impairment loss of goodwill 1,362,044
Deferred tax (benefit) expense 11,842 (79,488)
Changes in operating assets and liabilities:    
Accounts receivable 855,207 (1,161,307)
Notes receivable (156,298) (44,837)
Advances to suppliers 5,394,854 (4,185,829)
Inventories (4,335,000) (3,429,869)
Amounts due from related parties, current 377,310 (13,419)
Prepaid expenses and other current assets (241,306) (1,292,014)
Accounts payable (23,604) 3,552
Advances from customers (35,519) 217,523
Income tax payable (5,080) (5,384)
Amounts due to related parties, current (410,459)
Accrued expenses and other payables (606,455) (255,268)
Net cash (used in) provided by operating activities from continuing operations 204,129 (10,849,059)
Net cash provided by operating activities from discontinued operations 750,707 138,853
Net cash (used in) provided by operating activities 954,836 (10,710,206)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property, plant and equipment (443,009) (3,342,151)
Prepayment for construction in progress (1,299,447)
Proceed from redemption of a short-term investment 1,574,882
Purchase of a short-term investment (1,500,000)
Prepayment for intent long-term investment (3,219,361)
Loans to related parties (3,043,743) (2,778,965)
Collection of loans to related parties 691,486
Net cash used in investing activities from continuing operations (2,519,831) (10,840,477)
Net cash provided by investing activities from discontinued operations 203,511 427,990
Net cash used in investing activities (2,316,320) (10,412,487)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from short-term borrowings 2,581,039
Repayments of short-term borrowings (1,438,292) (735,457)
Proceeds from long-term borrowings 2,483,903
Loans from related parties 389,893 80,000
Repayments of loans from related parties (622,338)
Repayment of loans from third parties (1,382,973)
Net cash provided by (used in) financing activities from continuing operations (3,053,710) 4,409,485
Net cash provided by financing activities from discontinued operation 36,428 113,260
Net cash provided by (used in) financing activities (3,017,282) 4,522,745
Effect of exchange rate changes 310,143 3,272
Net decrease in cash, cash equivalents and restricted cash (4,068,623) (16,596,676)
Cash, cash equivalents and restricted cash, at beginning of the period 4,459,307 17,253,995
Cash, cash equivalents and restricted cash, at end of the period 390,684 657,319
Reconciliation of cash, cash equivalents, and restricted cash to the Consolidated Balance Sheets    
Cash and cash equivalents 389,903 656,468
Restricted cash 781 851
Total cash, cash equivalents, and restricted cash 390,684 657,319
Less: cash and cash equivalents from the discontinued operations, end of the period 18,122 16,443
Cash and cash equivalent from the continuing operations, end of the period 372,562 640,876
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Income tax paid 9,996 12,450
Interest paid 73,001 30,121
Warrant shares exercised via cashless option 120,000
Recognition of right-of use assets and lease liabilities $ 2,685 $ 70,688