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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
9 Months Ended
Apr. 30, 2020
Apr. 30, 2019
Cash flows from operating activities:    
Net loss $ (5,079,983)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 19,834
Noncash lease expense 18,296
Changes in assets and liabilities:    
Accounts receivable, net (112,251)
Accounts receivables, net - related parties (3,401)
Other current assets (311,970)
Inventories, net (718,225)
Accounts payable 584,092
Other current liabilities 164,218  
Accrued interest 29,344  
Net cash used in operating activities (5,410,046)
Cash flows from investing activities:    
Purchases of property and equipment (90,552)
Loans made to related parties (23,986)  
Net cash used in investing activities (114,538)
Cash flows from financing activities:    
Borrowing on line of credit - long term 1,630,238
Repayment on line of credit - long term (1,232,738)
Borrowing on loans - current term 2,641,377
Repayment on loan - current term (371,985)
Borrowing on loans - long term 1,553,258
Repayment on loan - long term (1,023,118)
Borrowing current portion of notes payable - related parties 64,400
Repayment Notes payable - related parties (138,400)
Proceeds from issuance of common stock 2,377,000
Net cash provided by financing activities 5,500,032
Net decrease in cash (24,552)
Cash - beginning of period 152,667
Cash - end of period 128,115
Cash paid during the period for:    
Interest 146,520
Income taxes $ 800

Source