v3.26.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (4,670,180) $ (3,992,132)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Amortization on capital lease 60,857 24,830
Depreciation and amortization 3,229,367 4,419,534
Deferred tax asset (1,270,060)
Stock-based compensation expense 196,100
Amortization of operating lease right-of-use assets 217,801 217,345
Amortization of finance lease right-of-use assets 775,702 313,941
Changes in assets and liabilities:    
Accounts receivable (1,549,443) (402,545)
Inventories (139,285) (57,859)
Prepayments and deposits (7,340) (44,903)
Advance from customers (36,222)
Other receivables (31,987) (774)
Accounts and other payable and accrued expenses 401,190 (17,847)
Taxes payable 162,411 (257,766)
Lease liabilities (225,321) (226,018)
Net cash used in operating activities (1,580,128) (1,330,476)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of property, plant and equipment
Net cash provided by (used in) investing activities
CASH FLOWS FROM FINANCING ACTIVITIES    
Repayment of finance leases obligation
Net cash provided by (used in) financing activities
EFFECTS OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS 28,011 (131,622)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (1,552,117) (1,462,098)
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD 10,075,162 72,223,894
CASH AND CASH EQUIVALENTS - END OF PERIOD 8,523,045 70,761,796
Cash paid during the three-month period ended March 31, for:    
Paid for taxes 77,386 481,153
Interest paid $ 60,857 $ 24,830