Wetouch Technology Inc.【WETH】
| Dec 31,
2020 | Dec 31,
2021 | Dec 31,
2022 | Dec 31,
2023 |
|---|
| NET INCOME | 9 | 17 | 9 | 8 |
|---|
| Inventory write-off | 66,944 | - | 74,100 | - |
|---|
| Depreciation and amortization | 1 | 381,167 | 9,891 | 9,403 |
|---|
| Loss on convertible promissory notes payable | - | - | 96,927 | - |
|---|
| Amortization of discounts and issuance cost of the notes | - | 8,550 | 148,368 | 33,655 |
|---|
| Gain (loss)on changes in fair value of common stock purchase warrants liability | - | - | 871,677 | -121,413 |
|---|
| Accounts receivable | -4,911,580 | -4,994,861 | 1 | -1,347,497 |
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| Inventories | 241,435 | -190,490 | 197,453 | -187,532 |
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| Due from a related party | - | - | - | -51 |
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| Prepaid expenses and other current assets | -69,448 | 2 | -853,426 | -333,415 |
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| Accounts payable | 40,749 | -167,186 | 637,372 | -704,696 |
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| Loans from a third party | -273,250 | -575,329 | -18,055 | 84,025 |
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| Amounts due to related parties | - | - | - | -1,665 |
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| Income tax payable | -547,080 | -50,424 | -41,068 | -21,578 |
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| Accrued expenses and other current liabilities | -1,884,578 | -233,882 | 661,203 | 3 |
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| Net cash provided by operating activities | 13 | 14 | 9 | 13 |
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| Purchase of property, plant and equipment | - | 12 | - | 2 |
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| Net cash used in investing activities | - | 6 | - | -2,263,549 |
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| Proceeds from stock issuance of private placement | - | - | - | 40 |
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| Repayments of convertible promissory notes payable | - | - | 1 | 55,000 |
|---|
| Proceeds from interest-free advances from a third party | -4,269,277 | - | 385,791 | - |
|---|
| Net cash provided by (used in) financing activities | -4,703,796 | 2 | -652,635 | 40 |
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| Effect of changes of foreign exchange rates on cash | 1 | 121,781 | -2,846,807 | -3,615,791 |
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| Net increase in cash | 10 | 22 | 5 | 47 |
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| Interest paid | 2 | - | 10,000 | - |
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| Income taxes paid | 3 | 4 | 3 | 4 |
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| Cashless stock issuance for convertible promissory notes payable | - | - | 284,654 | 22,338 |
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