Results of Operations

Our operations for the three and six months ended June 30, 2022 and 2021are outlined below:

Three months ended June 30, 2022 compared to year ended June 30, 2021





                                   Three months ended
                                        June 30,                   Change
                                 2022              2021            Amount
Revenue                      $   3,379,992     $  4,192,154     $    (812,162 )
Cost of goods sold           $   3,231,644     $  4,165,831     $    (934,187 )
Gross profit (loss)          $     148,348     $     26,323     $     122,025
Operating expenses           $     150,167     $    210,637     $     (60,470 )

Other income (expense) $ (28,426,923 ) $ 11,215,908 $ (39,642,831 ) Provision for income taxes $ 37,725 $ - $ 37,725 Net income (loss)

$ (28,466,467 )   $ 11,031,594     $ (39,498,061 )

The revenue for the six months ended June 30, 2022 decreased by $812,162 to $3,379,992 compared with the same period in 2021. The decrease is mainly due to the continuing effects of COVID-19.

Cost of goods sold for the three months ended June 30, 2022 increased by $934,187 to $3,231,644 compared with the same period in 2021. The decrease is mainly due to a decrease in revenue in this period.

Operating income for the three months ended June 30, 2022 decreased by $60,470 to $150,167 compared with the same period in 2021. The decrease is mainly due to a decrease in professional fee and office expense.

Other income (expense) for the three months ended June 30, 2022 increased by $39,642,831 to other expense of $28,426,923 from other income compared with the same period in 2021. The increase in other expense is mainly due to change in fair value of derivative liabilities related to convertible notes and warrants.

Net loss for the three months ended June 30, 2022 was $28,466,467 compared to net income of $11,031,594 in the same period in 2021. The change is mainly due to change in fair value of derivative liabilities related to convertible notes and warrants.

For the three months ended June 30, 2022 and 2021 our results of operations segment, are as follows:

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