v3.22.4
CONSOLIDATED STATEMENTS OF CASH FLOWS
 12 Months Ended
Sep. 30, 2022
USD ($)
Sep. 30, 2021
USD ($)
Sep. 30, 2020
USD ($)
Cash Flows from Operating Activities:      
Net (loss) income $ (6,054,266) $ (3,802,271) $ (837,016)
Adjustments to reconcile net income to net cash used in operating activities:      
Depreciation expense 672,368 568,038 438,467
Amortization expense 830,481 481,763 11,366
Right of use assets   (53,634)  
Loss on disposal of fixed assets     7,608
Bad debt expense 227,837 92,032  
Inventory provision     103,942
Write-off of advance to suppliers   108,395 100,684
Deferred tax benefits 0 406,064 (406,637)
Gain on accounts receivable factoring, net of discount (451,047)    
Gain on disposal of subsidiary     (536,612)
Loss on investment     214,114
Impairment on intangible assets 2,771,019    
Change in unrecognized tax benefits (1,428,458) (918,038) (1,021,565)
Stock compensation expense 2,674,807 1,351,082  
Interest expense of convertible notes 1,324,510 210,173  
Interest expense of financing lease   44,458  
Changes in operating assets and liabilities:      
Accounts receivable (12,059,620) 5,804,654 (4,800,889)
Other receivables and prepayments (260,755) 1,345,520 (793,936)
Notes receivable (53,853) 201,187 206,465
Inventories (2,606,504) 2,021,789 103,123
Advance to suppliers 5,493,624 (8,297,301) 2,933,852
Accounts payable 8,803,924 (8,662,576) 5,582,787
Notes payable 762,986 (159,823) (153,824)
Accrued expenses and other current liabilities 752,241 2,428,410 (484,477)
Accrued payroll and welfare 219,178 211,632 140,497
Advance from customers (3,662,097) 3,162,961 (198,358)
Income tax payable   (77,214) (149,386)
Lease liability (28,595) 53,635  
Net cash provided (used in) operating activities (2,072,220) (3,479,064) 460,205
Cash Flows from Investing Activities:      
Purchases of property, plant and equipment (507,663) (114,319) (1,168,322)
Proceed from disposal of property, plant and equipment     6,281
Purchase of CIP (12,666) (47,942)  
Purchases of intangible assets (1,588,107) (1,983,812)  
Investment into CG Malta   (25,000,000)  
Net cash used in investing activities (2,108,436) (27,146,073) (1,162,041)
Cash Flows from Financing activities:      
Net proceeds released from (placed into) short-term investment 1,523,953 (2,228,301)  
Proceeds from short-term bank borrowings 31,113,044 31,203,129 18,061,979
Repayments of short-term bank borrowings (34,501,465) (28,144,978) (17,836,445)
Net proceeds received from (repaid to) related parties 1,173,516 (280,313) (133,007)
Proceed from other borrowing     775,951
Repayment of other borrowing (279,004) (483,458) (107,195)
Proceeds from stock issuances   24,758,458  
Proceeds from convertible notes issuances   14,071,908  
Proceeds from stock warrants exercise   1,345,056  
Net cash provided by (used in) financing activities (969,956) 40,241,501 761,283
Effect of exchange rate changes on cash (835,453) 227,305 248,950
Net change in cash, cash equivalents and restricted cash (5,986,065) 9,843,669 308,397
Cash and cash equivalents and restricted cash at the beginning of period 13,603,204 3,759,535 3,451,138
Cash, cash equivalents and restricted cash at the end of period 7,617,139 13,603,204 3,759,535
Supplemental disclosures of cash flows information:      
Cash paid for income taxes 87,473 37,041 149,291
Cash paid for interest expenses $ 976,091 $ 338,575 $ 991,319

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