| Summary Of Cash Flows From Operating Activities |
Cash flows from operating activities for the year ended December 31, 2023, and 2022, are as follows:
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(Unit: USD) |
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a. Net loss |
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(76,985,584 |
) |
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(7,892,168 |
) |
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(60,387,182 |
) |
b. Adjustment |
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44,407,435 |
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12,140,195 |
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47,194,223 |
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Corporate tax benefit |
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2,861,079 |
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(1,511,696 |
) |
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(3,599,507 |
) |
Depreciation |
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756,117 |
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1,357,987 |
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1,786,378 |
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Amortization |
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1,847,358 |
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1,457,310 |
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1,792,358 |
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Bad debt |
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2,427,642 |
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46,005 |
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15,395,091 |
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Other bad debt |
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4,865,907 |
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436,674 |
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10,026,952 |
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Stock compensation costs |
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2,532,821 |
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687,888 |
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277,638 |
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Defined benefit expense |
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393,583 |
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286,421 |
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283,482 |
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Interest expense |
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2,466,266 |
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45,858 |
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1,777,845 |
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Loss on disposal of inventory |
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214,378 |
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5,877,549 |
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8,415,311 |
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Loss on foreign currency translation |
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127,190 |
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133,181 |
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78,602 |
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Loss on valuation of equity method |
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— |
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535,268 |
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1,518,115 |
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Product warranty expense |
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29,637 |
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5,503 |
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33,573 |
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Loss on raw material fair value evaluation |
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— |
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— |
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223,457 |
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Loss on intangible assets impairments |
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4,070,331 |
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3,902,589 |
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564,563 |
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Miscellaneous loss |
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— |
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(125,478 |
) |
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7,652 |
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R&D expenses |
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— |
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— |
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329,831 |
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Loss on disposal of investment shares in subsidiaries |
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— |
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— |
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13,318,419 |
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Loss from disposal of Intangible Assets |
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1,912 |
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— |
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— |
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Loss on equity method investment Impairment |
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2,683,019 |
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— |
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— |
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Loss from valuation of CB |
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103,342 |
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— |
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— |
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Loss on tangible assets impairments |
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19,004 |
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— |
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— |
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Change in fair value of derivative warrant liabilities |
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504,587 |
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— |
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— |
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Reverse Acquisition Expense |
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18,736,326 |
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— |
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— |
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Interest income |
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(13,671 |
) |
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(54,931 |
) |
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(292,769 |
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Gain from discharge of indebtedness |
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— |
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(4,079,520 |
) |
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(3,694,237 |
) |
Gain from equity method |
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— |
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— |
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(171,147 |
) |
Gain from foreign currency translation |
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(78,600 |
) |
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(74,596 |
) |
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(794,360 |
) |
Gain from disposition of tangible assets |
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(4,682 |
) |
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3,246,343 |
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(7,203 |
) |
Gain from disposal of securities |
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— |
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— |
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(75,821 |
) |
Reversal of allowance for doubtful accounts |
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(136,111 |
) |
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(32,160 |
) |
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— |
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c. Changes in working capital |
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23,654,519 |
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(9,624,762 |
) |
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7,084,315 |
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Decrease (increase) in trade receivables |
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(5,874,476 |
) |
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4,048,195 |
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3,452,691 |
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Decrease (increase) in other receivables |
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238,287 |
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(150,198 |
) |
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(126,488 |
) |
Decrease (increase) in accrued income |
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(1,540 |
) |
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161,931 |
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454,728 |
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Decrease (increase) in advance payments |
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251,324 |
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1,503,205 |
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(871,377 |
) |
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(Unit: USD) |
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Decrease (increase) in prepaid expenses |
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(373,039 |
) |
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60,106 |
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2,866 |
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Decrease (increase) in inventory |
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602,700 |
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(3,319,449 |
) |
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(1,230,342 |
) |
Decrease (increase) in non-current accounts receivable |
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— |
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639,402 |
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372,898 |
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Increase (decrease) in trade payables |
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(1,206,844 |
) |
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(1,664,819 |
) |
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(446,568 |
) |
Increase (decrease) in Non-trade Payables |
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22,381,641 |
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(4,238,255 |
) |
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5,342,932 |
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Increase (decrease) in Withholdings |
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6,420 |
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(180,093 |
) |
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100,901 |
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Increase (decrease) in value added tax withheld |
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4,325 |
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203,344 |
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(33,197 |
) |
Increase (decrease) in advance income |
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182,951 |
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(4,653,820 |
) |
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50,436 |
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Increase (decrease) in Accrued Expenses |
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(51,069 |
) |
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(2,110,114 |
) |
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394,142 |
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Increase (decrease) in government subsidy |
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— |
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— |
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(5,309 |
) |
Increase (decrease) in value added tax receivable |
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— |
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476,197 |
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|
815 |
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Increase (decrease) in Non-current Non-trade Payables |
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7,690,592 |
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(106,709 |
) |
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(57,035 |
) |
Payment of severance |
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(162,922 |
) |
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(293,685 |
) |
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(316,557 |
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Changes in retirement planned assets |
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— |
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— |
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(1,221 |
) |
Change in Product warranty provision |
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(33,831 |
) |
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— |
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— |
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Cash flows generated from operating activities |
|
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(8,923,630 |
) |
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(5,376,735 |
) |
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(6,108,644 |
) |
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