v3.23.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (2,783,914) $ (2,070,538)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 61,056 84,984
Change in straight-line rent receivable 13,196 4,463
Amortization of operating lease right-of-use asset 34,888 34,247
Stock-based compensation and service expense 327,190 605,626
Income (loss) from equity method investments (37,285) 12,916
Amortization of debt issuance costs 22,205
Changes in operating assets and liabilities:    
Rent receivable 4,309 (19,565)
Security deposit 409 (441)
Deferred leasing costs 8,350 7,856
Prepaid expense and other assets (87,328) 30,219
Accrued liabilities and other payables 634,558 793,585
Accrued liabilities and other payables - related parties 2,021 39,687
Operating lease obligation (34,465) (34,247)
NET CASH USED IN OPERATING ACTIVITIES (1,834,810) (511,208)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (20,185) (1,749)
NET CASH USED IN INVESTING ACTIVITIES (20,185) (1,749)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from loan payable - related party 750,000 100,000
Proceeds from equity offering 135,567
Disbursements for equity offering costs (4,067)
NET CASH PROVIDED BY FINANCING ACTIVITIES 750,000 231,500
EFFECT OF EXCHANGE RATE ON CASH 1,116 209
NET DECREASE IN CASH (1,103,879) (281,248)
CASH - beginning of period 1,990,910 807,538
CASH - end of period 887,031 526,290
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Interest 132,000
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Common stock issued for future services 54,576
Common stock issued for accrued liabilities 164,871
Deferred financing costs in accrued liabilities 20,000
Reclassification of advances for equity interest purchase to equity method investment 9,000,000
Series B Convertible Preferred Stock issued related to equity method investment 11,000,000
Accrued purchase price related to equity method investment $ 1,000,000

Source