GTEC: the cash flow

Net income

4,943,006

5,748,431

209,509

6,585,690

Depreciation and amortization

532,414

516,924

848,907

520,702

Amortization of deferred revenue

179,894

59,281

57,863

170,494

Loss (gain) on disposal of property, plant, equipment

-

-3,999

-

Increase (decrease) in allowance for credit losses

-

-15,596

-

Increase in allowance for credit losses

40,732

-

Increase (decrease) in provision for inventories

-

-1,042,942

-

Write-off of inventory provision due to sale of previously impaired inventory

181,901

-

Change in fair value of warrant liability

-104,937

52,927

-450,928

-1,525,352

Uncollectible accounts written off

-

1,705,312

-

Stock based compensation expense

-

-1,405,888

0

Deferred tax assets

-

-1,415

-

Non-cash lease expenses

-

-204,729

150,875

Accrued interest income derived from loan to related parties

0

2,012

2,423

3,415

Accrued expense

1,131,865

-1,816,175

1,512,385

-9,019

Accounts receivable

4,223,233

8,363,974

-3,610,411

-679,898

Notes receivable

3,099,757

3,813,413

-2,031,669

-3,686,504

Inventories

-1,661,200

993,585

1,118,525

-660,915

Advance to suppliers

14,000

-6,209

-1,444,098

-3,316

Other current and noncurrent assets

-1,085,545

319,609

-2,741,150

12,077,748

Accounts payable

964,306

7,581,337

-2,490,430

-2,102,885

Contract liabilities

-27,189

27,813

-204,778

-69,155

Other current liabilities

-247,391

360,868

-1,120,439

303,508

Income tax payable

-1,003,080

-112,797

-443,417

429,016

Lease liabilities

-

144,780

-110,606

Net cash provided by (used in) operating activities

1,277,686

-1,186,337

7,809,923

8,259,031

Purchases of long-term assets

1,177,962

172,528

260,251

265,467

Loan payment to third parties

7,410,026

4,000,000

3,141

3,103

Repayment of loans lend to third parties

2,122,861

-

1,257

1,241

Proceeds from sale of property, plant and equipment

-

23,516

-

Net cash used in investing activities

-6,465,127

-4,172,528

-238,619

-114,347

Notes payable

-3,539,214

-3,493,311

1,769,566

5,483,304

Proceeds from related parties

0

597,029

111,000

160,000

Repayment of loans from related parties

0

94,442

143,465

5,262,465

Dividend paid

12,505

1,444,711

1,547,240

486,298

Proceeds from equity and debt financing

0

5,584,996

-

Net cash provided by (used in) financing activities

3,526,709

8,136,183

-3,349,271

-9,403,700

Net increase (decrease) in cash and cash equivalents and restricted cash

-1,660,732

2,777,318

4,222,033

-1,259,016

Effect of exchange rate changes on cash

34,159

-17,011

-317,292

472,563

Cash and cash equivalents and restricted cash at beginning of period

10,607,177

7,846,870

3,942,129

8,611,795

Cash and cash equivalents and restricted cash at end of period

8,980,604

10,607,177

7,846,870

3,942,129

Bank balances and cash at end of period

8,980,604

-

MyFinsight

Cash Flow Overview

Time Plot

Cash Flow

Cash Flow Overview

Time Plot

Cash Flow