Lease liabilities -- Operating lease (846,992) (833,365)
--------- ---------
Net cash (used in) provided by operating
activities (53,640) 39,303
--------- ---------
Cash flows from investing activities:
Payment made for investment in other entity (29,906) --
Net cash outflow from deconsolidation of a
subsidiary (Appendix A) (48,893) --
Acquisition of property and equipment -- (18,288)
--------- ---------
Net cash used in investing activities (78,799) (18,288)
--------- ---------
Cash flows from financing activities:
Proceeds from loans 400,000 --
Repayment of loans (214,986) (100,864)
Repayment of equipment and vehicle loans (119,964) (104,598)
Principal payment of finance lease
liabilities (29,628) (20,640)
Payment for deferred offering cost (170,000) (90,000)
Advance to related parties (23,969) --
Proceeds from shareholders 237,302 110,550
Repayment to shareholders -- (47,536)
--------- ---------
Net cash provided by (used in) financing
activities 78,755 (253,088)
--------- ---------
Effect of exchange rate changes on cash and
cash equivalents 3,216 32,560
--------- ---------
Net decrease in cash (50,468) (199,513)
Cash, beginning of the year 174,018 373,531
--------- ---------
Cash, end of the year $ 123,550 $ 174,018
========= =========
SUPPLEMENTAL DISCLOSURES OF CASH FLOW
INFORMATION:
Cash paid for income tax $ -- $ --
========= =========
Cash paid for interest $ 31,161 $ 26,474
========= =========
SUPPLEMENTAL SCHEDULE OF NON-CASH IN
FINANCING ACTIVITIES
Deferred offering costs within due to
shareholders $ 860,979 $ 90,000
========= =========
Deferred offering costs within accrued
expense and other payables $ 541,819 $ --
========= =========
NON-CASH ACTIVITIES
Dividends declared $ -- $ 200,000
========= =========
Dividends declared and offset against due
from shareholders $ -- $ 101,150
========= =========
Property and equipment additions included in
loan payable $ -- $ 98,245
========= =========
Right of use assets obtained in exchange for
operating lease obligations $2,094,498 $ 124,600
========= =========
Right of use assets obtained in exchange for
finance lease obligation $ 19,982 $ 32,107
========= =========
APPENDIX A -- Net cash outflow from
deconsolidation of a subsidiary
Working capital, net $ 29,812 $ --
Investment in other entity recognized (15,741) --
Elimination of NCl at deconsolidation of a
subsidiary 10,187 --
Loss from deconsolidation of a subsidiary (73,151) --
--------- ---------
Cash $ (48,893) $ --
========= =========
View original content:https://www.prnewswire.com/news-releases/lakeside-holding-reports-impressive-42-revenue-growth-for-fiscal-year-2024-302264006.html
SOURCE Lakeside Holding Limited
(END) Dow Jones Newswires
October 01, 2024 08:50 ET (12:50 GMT)
