diluted 12,425,319 10,666,906
=========== ==========
CHANSON INTERNATIONAL HOLDING AND SUBSIDIARIES
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
For the Six Months Ended
June 30,
---------------------------
2024 2023
------------ -------------
Cash flows from operating
activities:
Net income $ 23,412 $ 284,760
Adjustments to reconcile net income
to net cash provided by operating
activities:
Amortization of operating lease
right-of-use assets 1,697,141 1,422,155
Depreciation 445,787 402,784
Impairment loss on property and
equipment - 5,434
Accrued interest income from long
term debt investment (359,014) (171,616)
Interest income from loan to a
third-party (44,877) (21,452)
Changes in operating assets and
liabilities:
Accounts receivable (40,507) (772,933)
Inventories (65,027) 88,841
Prepaid expenses and other current
assets 286,121 73,944
Long term security deposits 49,350 (17,375)
Long term prepaid expenses 32,953 21,534
Accounts payable 213,875 216,032
Taxes payable (19,020) (109,830)
Deferred revenue 299,816 522,418
Other current liabilities (79,738) 35,633
Operating lease liabilities (1,634,128) (1,370,175)
----------- ------------
Net cash provided by operating
activities 806,144 610,154
----------- ------------
Cash flows from investing
activities:
Purchase of property and equipment (34,268) (152,022)
Proceeds from disposal of property
and equipment 34,562 -
Payment made for long term debt
investment - (6,000,000)
Interest income received from long
term debt investment 534,575 -
Advance of loans to third parties - (3,900,000)
Repayment from loans to third parties 862,088 -
Prepayment for the software,
equipment and product development - (1,200,000)
----------- ------------
Net cash provided by (used in)
investing activities 1,396,957 (11,252,022)
----------- ------------
Cash flows from financing
activities:
Gross proceeds from initial public
offerings - 13,560,000
Direct costs disbursed from initial
public offerings proceeds - (1,529,631)
Proceeds from short-term bank loans 422,095 -
Payments made to a related party (56,298) (1,612,215)
Payments made for deferred offering
costs - (312,125)
Prepayment for the related service
after listing - (450,000)
----------- ------------
Net cash provided by financing
activities 365,797 9,656,029
----------- ------------
Effect of exchange rate fluctuation
on cash and cash equivalents 57,630 (457,647)
----------- ------------
Net increase (decrease) in cash and
cash equivalents 2,626,528 (1,443,486)
Cash and cash equivalents, beginning
of period 1,481,302 2,915,470
----------- ------------
Cash and cash equivalents, end of
period $ 4,107,830 $ 1,471,984
=========== ============
Supplemental cash flow information
Cash paid for income taxes $ 40,889 $ 9,436
=========== ============
Cash paid for interest $ 68,450 $ 8,364
=========== ============
Non-cash operating, investing and
financing activities
Reduction of right-of-use assets and
operating lease obligations due to
early termination of lease
agreement $ 60,277 $ -
=========== ============
Right of use assets obtained in
exchange for operating lease
liabilities $ 1,697,141 $ 1,103,383
=========== ============
Deferred IPO cost offset with
additional paid-in capital $ - $ 1,059,521
=========== ============
View original content:https://www.prnewswire.com/news-releases/chanson-international-holding-announces-first-half-of-fiscal-year-2024-financial-results-302261357.html
SOURCE Chanson International Holding
(END) Dow Jones Newswires
September 27, 2024 16:05 ET (20:05 GMT)
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