Elevai Labs Inc
For the period ended Dec 31, 2023. Filed Mar 29, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Mar 29, 2024
ELAB$1.69+7.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
| December 31, 2023 | December 31, 2022 | |
|---|---|---|
| Operating activities | ||
| Net loss | $(4,301,517) | $(1,800,268) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation | 11,649 | 6,512 |
| Interest expense | - | 2,614 |
| Share-based compensation | 487,738 | 171,869 |
| Straight-line rent expense | (2,757) | 6,664 |
| Loss on sale of equipment | - | 1,546 |
| Change in fair value of derivative liabilities | 71,266 | 12,754 |
| Changes in operating assets and liabilities: | ||
| Receivables | (23,218) | (11,547) |
| Prepaid expenses and deposits | (907,343) | (102,055) |
| Inventory | (265,522) | (69,328) |
| Accounts payable and accrued liabilities | 466,891 | 65,191 |
| Customer deposits | 26,521 | 10,172 |
| Due to related parties | (120,519) | 120,000 |
| Cash flows used in operating activities | $(4,556,811) | $(1,585,876) |
| Investing activities | ||
| Purchase of equipment | (11,191) | (35,527) |
| Proceeds on disposal of equipment | - | 3,500 |
| Cash flows used in investing activities | $(11,191) | $(32,027) |
| Financing activities | ||
| Exercise of stock options | 37,500 | 25,000 |
| Proceeds from the issuance of series A preferred stock | - | 2,153,289 |
| Private Placement | 1,463,585 | - |
| Proceeds from IPO | 6,000,000 | - |
| Share issuance costs for IPO | (762,195) | - |
| Proceeds from notes payable | - | 183,970 |
| Cash flows provided by financing activities | $6,738,890 | $2,362,259 |
| Effect of exchange rate changes on cash | 1,062 | (1,313) |
| Increase in cash | 2,171,950 | 743,043 |
| Cash, beginning of period | 1,154,901 | 411,858 |
| Cash, ending of period | $3,326,851 | $1,154,901 |
| Supplemental cash flow information: | ||
| Cash paid for interest | 14,397 | - |
| Cash paid for taxes | - | - |
| Non-cash Investing and Financing transactions: | ||
| Conversion of preferred stock to common stock | 3,527,701 | - |
| Settlement of notes payable and accrued interest through issuance of series A preferred stock and warrants | - | 186,584 |
| Derivative liability broker warrants included in share issuance cost for IPO | 229,437 | - |
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