Agape ATP Corp
For the period ended Dec 31, 2023. Filed Apr 1, 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 Apr 1, 2024
ATPC$1.35-0.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
(Currency expressed in United States Dollars (“US$”)
| For the years ended December 31, | |||
|---|---|---|---|
| 2023 · 2022 | |||
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||
| Net loss | $(2,109,935) | $(1,666,079) | |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation of property and equipment | 70,337 | 71,754 | |
| Amortization of intangible assets | 5,645 | 2,122 | |
| Gain on disposal of office equipment | (1,753) | - | |
| Amortization of operating right-of-use assets | 147,212 | 144,064 | |
| Unrealized holding (gain) loss on marketable securities | (3,493) | 73,519 | |
| Provision for credit losses | 29,955 | - | |
| Deferred tax benefit | (220) | (14,751) | |
| Inventory write-down | - | 5,307 | |
| Changes in operating assets and liabilities: | |||
| Accounts receivables | (53,641) | (2,824) | |
| Amount due from related parties | (995) | (3,786) | |
| Inventories | (3,216) | 343,483 | |
| Prepaid taxes | 305,567 | 263,404 | |
| Prepayments and deposits | (34,532) | 61,500 | |
| Other receivables | 8,961 | 27,613 | |
| Accounts payable | 28,109 | 15,825 | |
| Accounts payable – related parties | 10,347 | 25,597 | |
| Customer deposits | (248,299) | 94,877 | |
| Operating lease liabilities | (147,951) | (145,197) | |
| Other payables and accrued liabilities | 3,485 | (119,963) | |
| Other payables – related parties | 3,185 | 4,878 | |
| Income tax payables | (10,591) | 6,974 | |
| Net cash used in operating activities | (2,001,823) | (811,683) | |
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||
| Purchase of property and equipment | (52,320) | (9,433) | |
| Proceeds from disposal of office equipment | 35,069 | - | |
| Purchase of intangible assets | - | (22,686) | |
| Net cash used in investing activities | (17,251) | (32,119) | |
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||
| Deferred offering costs | - | (234,466) | |
| Shares repurchased | (93,889) | - | |
| Payment of finance lease liabilities | (9,594) | - | |
| Net proceeds from issuance of common stock | 5,501,520 | - | |
| Net cash provided by (used in) financing activities | 5,398,037 | (234,466) | |
| EFFECT OF EXCHANGE RATE ON CASH AND CASH EQUIVALENTS | 15,067 | (81,150) | |
| INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 3,394,030 | (1,159,418) | |
| CASH AND CASH EQUIVALENTS, beginning of year | 1,438,430 | 2,597,848 | |
| CASH AND CASH EQUIVALENTS, end of year | $4,832,460 | $1,438,430 | |
| SUPPLEMENTAL CASH FLOWS INFORMATION | |||
| Income taxes paid | $34,844 | $78,511 | |
| Refund of prepaid tax | $326,024 | $ | - |
| SUPPLEMENTAL NON-CASH FLOWS INFORMATION | |||
| Motor vehicle acquired through finance lease | $78,824 | $ | - |
| Operating lease right-of-use assets obtained in exchange for lease liabilities | $428,523 | $ | - |
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