IEH Corp
For the period ended Mar 31, 2024. Filed Jun 14, 2024.
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FY2024 · Filed Jun 14, 2024
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Statements of Cash Flows
| For the Fiscal Years Ended March 31, | |||
|---|---|---|---|
| 2024 · 2023 | |||
| Cash flows from operating activities: | |||
| Net loss | $(2,916,902) | $(6,502,924) | |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation and amortization | 871,619 | 1,034,559 | |
| Stock-based compensation expense | 343,300 | - | |
| Inventory obsolescence provision | 340,402 | 222,000 | |
| Deferred income taxes, net | - | 806,380 | |
| Operating lease right-of-use assets | 502,876 | 502,876 | |
| Changes in assets and liabilities: | |||
| Accounts receivable | (927,795) | 53,532 | |
| Inventories | 374,372 | 59,995 | |
| Corporate income taxes receivable | (475,701) | 373,007 | |
| Prepaid expenses and other current assets | (91,201) | 15,390 | |
| Accounts payable | (272,996) | 245,447 | |
| Customer advance payments | 861,886 | (77,246) | |
| Operating lease liabilities | (483,184) | (469,110) | |
| Other current liabilities | (40,941) | (48,957) | |
| Net cash used in operating activities | (1,914,265) | (3,785,051) | |
| Cash flows from investing activities: | |||
| Acquisition of property, plant and equipment | (347,168) | (545,514) | |
| Net cash used in investing activities | (347,168) | (545,514) | |
| Cash flows from financing activities: | |||
| Proceeds from exercise of stock options | 56,550 | - | |
| Net cash provided by financing activities | 56,550 | - | |
| Net decrease in cash | (2,204,883) | (4,330,565) | |
| Cash - beginning of fiscal year | 8,344,706 | 12,675,271 | |
| Cash - end of fiscal year | $6,139,823 | $8,344,706 | |
| Supplemental disclosures of cash flow information: | |||
| Cash paid during the year for: | |||
| Interest | $216 | $ | - |
| Income Taxes | $3,090 | $7,804 | |
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