INTELLIGENT BIO SOLUTIONS INC
For the period ended Mar 31, 2024. Filed May 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 8, 2024
INBS$2.25-1.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 1. Condensed Consolidated Statements of Cash Flows
Condensed Consolidated Statement of Cash Flows
| Nine Months Ended March 31, | |||
|---|---|---|---|
| 2024 · 2023 | |||
| Cash Flows from Operating Activities | |||
| Net loss | $(7,395,572) | $(7,993,166) | |
| Adjustment to reconcile net loss to cash used in operating activities | |||
| Depreciation and amortization | 737,906 | 702,487 | |
| Depreciation included in cost of revenue | 8,602 | - | |
| Depreciation on leased assets | 178,891 | 94,171 | |
| Non-cash loss on foreign currency translation, net | - | 8,936 | |
| Provision for credit losses | 6,759 | - | |
| Provision for inventory write-off | 69,279 | 186,834 | |
| Goodwill impairment | - | 4,096,490 | |
| Stock-based compensation | 218,305 | 260,000 | |
| Non-cash refund of R&D expenditure claims | (112,293) | (125,128) | |
| Fair value gain on revaluation of convertible notes | - | (1,455,078) | |
| Fair value gain on revaluation of holdback Series C Preferred Stock | (175,738) | (607,800) | |
| Non-cash other operating activities | 8,053 | - | |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (66,040) | (296,049) | |
| Inventories | 102,002 | (74,866) | |
| Grant receivable/deferred grant income | - | (213,543) | |
| Research and development tax incentive receivable | 166,287 | (225,408) | |
| Other current assets | - | (187,273) | |
| Accounts and other payables | (481,281) | (937,960) | |
| Other payables | 266,973 | - | |
| Other long-term liabilities | 5,384 | (25,687) | |
| Operating lease liabilities | (165,072) | - | |
| Net cash used in operating activities | (6,627,555) | (6,793,040) | |
| Cash flows from Investing Activities | |||
| Cash acquired from business acquisition | - | 174,481 | |
| Cash payment for business acquisition | - | (181,750) | |
| Amount invested on construction in progress | (54,118) | (505,123) | |
| Net cash used in investing activities | (54,118) | (512,392) | |
| Cash flows from Financing Activities | |||
| Proceeds from issuance of common stock and warrants, net of issuance costs | 3,786,164 | 2,554,463 | |
| Proceeds from exercise of warrants, net of issuance costs | 1,651,498 | - | |
| Proceeds from private placement, net of issuance costs | 9,117,581 | - | |
| Proceeds from issuance of preferred stock | - | 220,578 | |
| Payment of equity issuance costs - others | - | (464,727) | |
| Payment of equity issuance costs relating to acquisition of IFP | - | (806,397) | |
| Payment of tax withholding for employee stock awards | - | (14,407) | |
| Payment of finance lease liabilities | - | (100,297) | |
| Net cash provided by financing activities | 14,555,243 | 1,389,213 | |
| Effect of foreign exchange rates on cash and cash equivalents | (13,291) | (41,538) | |
| Net increase (decrease) in cash and cash equivalents | 7,860,279 | (5,957,757) | |
| Cash and cash equivalents, beginning of period | 1,537,244 | 8,238,301 | |
| Cash and cash equivalents, end of period | $9,397,523 | $2,280,544 | |
| Non-cash investing and financing activities | |||
| Shares issued for business acquisition | $ | - | $5,530,667 |
| Note receivable settled for business acquisition | - | 504,398 | |
| Deferred consideration payable for business combination | - | 399,250 | |
| Equity issuance costs in accounts payable and accrued expenses | 185,688 | 54,187 | |
| Conversion of preferred shares into common shares | 57,287 | - | |
| Conversion of holdback Series C Preferred Stock into common stock | 32,762 | - | |
| Issuance of common stock upon cashless exercise of Series F warrants | 6,551 | - | |
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