v3.26.3
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities    
Net income (loss) $ (4,962,383) $ (3,195,019)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization expense 24,586 35,800
Amortization of convertible note discount and debt issuance costs 42,977 56,143
Amortization of operating lease right-of-use assets 559,235 758,465
Provision for (recovery of) credit losses and loan losses (76,255) (38,517)
Provision for excess and obsolete inventories 0 3,500
Provision for warranty and production guaranty 252,009 106,492
Equity in loss (income) of investment in excess of distribution received 281,747 (129,746)
Deferred income tax provision (56,182) (188,733)
(Gain) loss on disposal of property and equipment 0 65,143
(Gain) loss on debt extinguishment (53,642) 313,953
Changes in operating assets and liabilities:    
Accounts Receivable (4,836,132) 818,816
Contract Assets (8,621,243) (38,263)
Receivables from SPIC and project companies 0 208,521
Customer loans receivable 674,815 686,330
Inventories 444,289 (287,426)
Other receivables and current assets (2,211,285) (335,418)
Other assets (14,306) 8,756
Accounts payable 9,521,026 1,178,687
Operating lease liabilities (485,511) (769,551)
Accrued expenses and other payables 4,695,667 910,591
Other liabilities (335,817) (548,956)
Net cash provided by (used in) operating activities (5,156,405) (380,432)
Investing activities    
Principal repayment on debt investments 548,438 137,509
Issuance of short-term advances (2,374,712) 0
Principal repayment on short-term advances 1,356,861 0
Net cash provided by (used in) investing activities (469,413) 137,509
Financing activities    
Accrued legal settlement 0 (138,134)
Proceeds from private placement sale of common stock 1,096,000 1,950,000
Principal payment on convertible notes (1,100,000) (250,000)
Repayment on equipment capital lease (7,436) (8,810)
Net cash provided by (used in) financing activities (11,436) 1,553,056
Effect of exchange rate (170,328) (179,004)
Net increase (decrease) in cash, cash equivalents, and restricted cash (5,807,582) 1,131,129
Cash, cash equivalents, and restricted cash, beginning of period 8,246,813 1,063,077
Cash, cash equivalents, and restricted cash, end of period 2,439,231 2,194,206
Supplemental disclosures of cash flow information:    
Interest paid in cash 265,505 362,193
Income taxes paid in cash 63,505 14,230
Non-cash activities for investing and financing activities:    
Right-of-use asset obtained in exchange for operating lease liability 10,425,412 0
Exchange of unsecured loan for common stock 0 900,000
Convertible notes issued to non-related parties in connection with cancellation of EB-5 loans 2,000,000 0
Cash balance at the beginning of the year:    
Cash and cash equivalents 7,966,797 786,333
Restricted cash, noncurrent 280,016 276,744
Cash balance at the end of the year:    
Cash and cash equivalents 2,158,233 1,915,639
Restricted cash, noncurrent $ 280,998 $ 278,567