IT TECH PACKAGING, INC.ITP
| Dec 31,
2011 | Dec 31,
2018 | Dec 31,
2019 | Dec 31,
2020 | Dec 31,
2021 | Dec 31,
2022 |
|---|
| Net (Loss) Income | 22 | -10,545,684 | 2 | -5,554,002 | 905,535 | -16,571,308 |
|---|
| Depreciation and amortization | 4 | 14 | 15 | 16 | 15 | 15 |
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| (Gain) Loss on derivative liability | - | - | - | -426,055 | 6 | 1 |
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| Gain on acquisition | - | - | - | - | - | 30,992 |
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| (Recovery from) for bad debts | - | 23,676 | 2,192 | -28,087 | 33,480 | 843,779 |
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| Share-based compensation and expenses | - | - | - | - | - | 156,000 |
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| Deferred tax | - | -2,089,439 | -2,369,683 | -2,364,575 | 3 | 10 |
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| Accounts receivable | - | 1 | -294,882 | -923,429 | 2 | -3,750,196 |
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| Prepayments and other current assets | 5 | 6 | -5,392,916 | -5,301,953 | 8 | 4 |
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| Inventories | 2 | -5,322,320 | 1 | -458,878 | 5 | -2,554,072 |
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| Accounts payable | - | - | - | 307,198 | -589,371 | -4,496 |
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| Advance from customers | - | - | 99,472 | -21,281 | -44,366 | -37,452 |
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| Related parties | - | 150,743 | -1,757,231 | 2 | -785,097 | 444,291 |
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| Accrued payroll and employee benefits | -39,473 | -6,855 | 82,813 | -82,516 | 60,334 | -103,683 |
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| Other payables and accrued liabilities | -1,402,290 | 7 | 1 | -1,105,508 | 254,966 | 677,840 |
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| Income taxes payable | -42,340 | -291,119 | 1 | -1,153,191 | 832,946 | -614,738 |
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| Net Cash (Used in) Provided by Operating Activities | 19 | 10 | 8 | 16 | -2,436,071 | 11 |
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| Purchases of property, plant and equipment | 25 | 2 | - | 21 | 25 | 5 |
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| Acquisition of land | - | - | - | - | - | 6 |
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| Net Cash Used in Investing Activities | -27,451,405 | -2,198,852 | -7,866,849 | -20,526,004 | -25,071,372 | -10,898,531 |
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| Proceeds from issuance of shares and warrants, net | - | - | - | 2 | 42 | - |
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| Proceeds from short term bank loans | 8 | 12 | 10 | 6 | 6 | 6 |
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| Proceeds from long term loans | - | - | - | - | - | 59,195 |
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| Repayment of bank loans | 5 | 12 | 18 | 6 | 7 | 6 |
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| Payment of capital lease obligation | - | - | - | 72,003 | 185,050 | 206,114 |
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| Loan to a related party (net) | - | - | - | - | - | -874,745 |
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| Net Cash Provided by (Used in) Financing Activities | 1 | -3,165,607 | -5,772,467 | 2 | 34 | -879,596 |
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| Effect of Exchange Rate Changes on Cash and Cash Equivalents | - | - | - | - | - | -618,005 |
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| Net (Decrease) Increase in Cash and Cash Equivalents | - | - | - | -1,695,308 | 7 | -1,676,744 |
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| Cash paid for interest, net of capitalized interest cost | - | 2 | 926,368 | 592,140 | 577,194 | 320,568 |
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| Cash paid for income taxes | - | 515,001 | 2 | 2 | 2 | 2 |
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