Press Release: Reborn Coffee Reports Fiscal Year 2023 Financial Results

Cash flows from financing activities: 
      Proceeds from issuance of common 
       stock                                      -     7,200,000 
      Payment for offering costs                  -      (997,870) 
      Proceeds from Line of Credit        1,000,000       685,961 
      Repayment of Line of Credit                 -      (685,961) 
      Proceeds from loans                   514,824       262,215 
      Repayments of loans                   (47,102)     (355,783) 
      Repayments of equipment loan 
       payable                                    -       (15,989) 
                                         ----------    ---------- 
       Net cash provided by financing 
        activities                        1,467,722     6,092,573 
 
Net (decrease) increase in cash          (2,342,587)    2,113,984 
 
Cash at beginning of period               3,019,035       905,051 
                                         ----------    ---------- 
 
Cash at end of period                   $   676,448   $ 3,019,035 
                                         ==========    ========== 
 
Supplemental disclosures of non-cash 
financing activities: 
      Conversion of credit line to 
       common stock issuances           $ 1,000,000   $ 
      Issuance of common shares for 
       service                          $   285,000   $   441,000 
 
Supplemental disclosure of cash flow 
information: 
      Cash paid during the years for: 
      Interest                          $   129,000   $     8,500 
      Income taxes                      $       800   $     1,600 
      Lease liabilities and assets      $ 1,240,000   $   903,000 
 

(END) Dow Jones Newswires

March 28, 2024 08:31 ET (12:31 GMT)