Netcapital Inc
For the period ended Apr 30, 2024. Filed Jul 29, 2024.
View on SEC.govAbout this filing
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.
FY2024 · Filed Jul 29, 2024
NCPL$1.97+8.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 8. Consolidated Statements of Cash Flows
| Year Ended · Year Ended | ||||
|---|---|---|---|---|
| April 30, 2024 · April 30, 2023 | ||||
| OPERATING ACTIVITIES | ||||
| Net income (loss) | $(4,986,317) | $2,954,972 | ||
| Adjustment to reconcile net income (loss) to net cash used in operating activities: | ||||
| Stock-based compensation | 1,324,917 | 269,577 | ||
| Receipt of equity in lieu of cash | (3,427,699) | (8,110,000) | ||
| Unrealized (gain) loss on equity securities | 2,696,135 | (1,857,500) | ||
| Gain on debt conversion | - | (224,260) | ||
| Provision for bad debts | 267,500 | 5,443 | ||
| Realized loss on investment | - | 406,060 | ||
| Changes in deferred taxes | (1,657,000) | 680,000 | ||
| Amortization of intangible assets | 93,862 | 96,407 | ||
| Impairment of assets | 1,048,430 | - | ||
| Changes in non-cash working capital balances: | ||||
| Accounts receivable | (293,849) | 1,039,957 | ||
| Prepaid expenses | (4,878) | (25,007) | ||
| Interest receivable | (1,200) | - | ||
| Related party receivable | - | 668 | ||
| Accounts payable and accrued expenses | 240,229 | 97,020 | ||
| Accounts payable - related party | - | (8,819) | ||
| Income taxes payable | (174,000) | 174,000 | ||
| Deferred revenue | (195) | (1,871) | ||
| Accrued interest payable | (5,773) | (113,847) | ||
| Net cash used in operating activities | (4,879,838) | (4,617,200) | ||
| INVESTING ACTIVITIES | ||||
| Note receivable | (20,000) | - | ||
| Proceeds from sale of investment | - | 200,000 | ||
| Net cash provided by (used in) investing activities | (20,000) | 200,000 | ||
| FINANCING ACTIVITIES | ||||
| Payment to secured lender | (350,000) | (1,050,000) | ||
| Proceeds from exercise of warrants | 4,968 | - | ||
| Payment of related party note | - | (7,860) | ||
| Proceeds from sale of common stock | 5,538,611 | 5,570,576 | ||
| Net cash provided by financing activities | 5,193,579 | 4,512,716 | ||
| Net increase in cash | 293,741 | 95,516 | ||
| Cash and cash equivalents, beginning of the period | 569,441 | 473,925 | ||
| Cash and cash equivalents, end of the period | $863,182 | $569,441 | ||
| Supplemental disclosure of cash flow information: | ||||
| Cash paid for taxes | $ | - | $ | - |
| Cash paid for interest | $50,265 | $207,690 | ||
| Supplemental Non-Cash Financing Information: | ||||
| Common stock issued to pay promissory notes | $ | - | $266,272 | |
| Common stock issued to purchase 10% interest in Caesar Media Group Inc. | $366,377 | $732,751 | ||
| Common stock issued to pay related party payable | $90,204 | $113,714 | ||
| Common stock issued as prepaid compensation | $ | - | $552,329 | |
| Common stock issued to purchase intellectual property | $ | - | $435,000 | |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.