CXJ GROUP CO Ltd
For the period ended May 31, 2022. Filed Jan 9, 2024.
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FY2022 · Filed Jan 9, 2024
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
For the years ended May 31, 2022 and 2021 (as restated)
| For the year ended May 31, | ||
|---|---|---|
| 2022 | 2021 (as restated) | |
| $ | $ | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net Profit/(Loss) | (501,069) | (1,582,407) |
| Adjustments to reconcile net profit/(loss) to net cash provided by/(used in) operating activities | ||
| Depreciation and amortization | 415 | - |
| Amortization of right-of-use assets | 48,700 | 65,537 |
| Bad debts written off | 56,913 | 1,195,957 |
| Bad debts written off recovery | (155,005) | - |
| Amortization of intangible assets | 4,516 | 288 |
| Intangible assets written off | 19,476 | 11,168 |
| Impairment of goodwill | 1,017,964 | 322,972 |
| others | (3,511) | - |
| Changes in operating assets and liabilities: | ||
| Accounts receivables | (53,968) | 66,766 |
| Prepayments, deposits and other receivables | (48,938) | 1,359,571 |
| Inventories | (371,908) | 56,921 |
| Accounts payable | (8,826) | 55,856 |
| Advanced received, accrued liabilities and other payable | 489,594 | (1,383,847) |
| Operating lease liabilities | (50,830) | (65,540) |
| Net cash provided by operating activities | 443,523 | 103,242 |
| CASH FLOWS FROM INVESTING ACTIVITY: | ||
| Purchase of property, plant and equipment | (1,914) | - |
| Purchase of intangible assets | (23,992) | (11,456) |
| Acquisition of subsidiary, net of cash acquired | 25,944 | - |
| Net cash used in investing activity | 38 | (11,456) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Repayment from related party | 34,169 | 6,500 |
| Advances from directors | 43,449 | 215,501 |
| Net cash provided by financing activities | 77,618 | 222,001 |
| Effect of exchange rate changes on cash and cash equivalents | (34,144) | 10,734 |
| Net change in cash and cash equivalents | 487,035 | 324,521 |
| Cash and cash equivalents, beginning of year | 340,109 | 15,588 |
| CASH AND CASH EQUIVALENTS, END OF YEAR | 827,144 | 340,109 |
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