Reliant Holdings Inc
For the period ended Dec 31, 2023. Filed Apr 18, 2024.
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FY2023 · Filed Apr 18, 2024
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Item 8. Consolidated Statements of Cash Flows
Reliant Holdings, Inc. and Subsidiary
| For the Year Ended | ||||
|---|---|---|---|---|
| 2023 · 2022 | ||||
| Operating Activities | ||||
| Net income | $33,615 | $333,876 | ||
| Adjustments to reconcile net income to net | ||||
| cash provided by (used in) operating activities: | ||||
| Stock-based compensation | 36,000 | - | ||
| Depreciation | 19,473 | 15,619 | ||
| Changes in operating assets and liabilities: | ||||
| Accounts receivable | (1,000) | - | ||
| Contract assets | 30,571 | (23,246) | ||
| House and real estate inventory | (107,353) | (293,353) | ||
| Prepaid and other current assets | 23,582 | (4,647) | ||
| Right-of-use asset | 25,805 | 18,305 | ||
| Contract liabilities | (61,122) | (247,353) | ||
| Accounts payable and accrued liabilities | 25,632 | (47,349) | ||
| Accrued liabilities - related parties | 5,500 | 48,000 | ||
| Right-of use liability | (25,940) | (18,102) | ||
| Net cash provided by (used in) operating activities | 4,763 | (218,250) | ||
| Investing Activities | ||||
| Purchase of property and equipment | (5,000) | - | ||
| Net cash used in financing activities | (5,000) | - | ||
| Financing Activities | ||||
| Proceeds from construction loan | 33,905 | 186,404 | ||
| Payments on note payable | (12,737) | (25,529) | ||
| Contributions from shareholders | 5,825 | - | ||
| Net cash provided by financing activities | 26,993 | 160,875 | ||
| Net change in cash | 26,756 | (57,375) | ||
| Cash - beginning of period | 282,621 | 339,996 | ||
| Cash - end of period | $309,377 | $282,621 | ||
| Supplemental Disclosures | ||||
| Interest paid | $15,280 | $3,536 | ||
| Income taxes paid | $ | - | $ | - |
| Non-cash Disclosures | ||||
| Purchase of equipment with note payable | $62,481 | $ | - | |
| Establishment of right-of-use asset | $ | - | $50,825 | |
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