INTELLIGENT BIO SOLUTIONS INC
For the period ended Jun 30, 2024. Filed Sep 18, 2024.
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FY2024 · Filed Sep 18, 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 8. CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended June 30, | |||
|---|---|---|---|
| 2024 · 2023 | |||
| Cash Flows from Operating Activities | |||
| Net loss | $(10,190,932) | $(10,664,555) | |
| Adjustment to reconcile net loss to cash used in operating activities: | |||
| Depreciation and amortization | 974,355 | 814,481 | |
| Amortization on right-of-use assets | 238,730 | 152,251 | |
| Non-cash loss on foreign currency translation, net | 1,178 | 9,829 | |
| Provision for credit losses | 6,772 | - | |
| Provision for inventory obsolescence | 69,676 | 189,670 | |
| Goodwill impairment | - | 4,158,670 | |
| Share-based compensation | 230,496 | 260,000 | |
| Non-cash refund of R&D expenditure claims | - | (127,944) | |
| Fair value gain on revaluation of convertible notes | - | (1,537,565) | |
| Fair value gain on revaluation of holdback Series C Preferred Stock | (175,738) | (616,800) | |
| Non-cash other operating activities | (24,177) | (94,332) | |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (135,843) | (293,861) | |
| Inventories | 202,370 | (345,390) | |
| Grant receivable/deferred grant income | 148,611 | 1,031,357 | |
| Research and development tax incentive receivable | (26,574) | (145,710) | |
| Other current assets | 55,219 | (118,335) | |
| Accounts and other payables | (632,950) | 84,502 | |
| Other long-term liabilities | (364,149) | (25,724) | |
| Operating lease liabilities | 51,387 | (107,922) | |
| Net cash used in operating activities | (9,571,569) | (7,377,378) | |
| Cash flows from Investing Activities | |||
| Cash acquired from business acquisition | - | 174,481 | |
| Cash payment for business acquisition | - | (363,500) | |
| Purchase of fixed assets | (5,368) | - | |
| Amount invested on capital work in progress | (216,058) | (505,123) | |
| Net cash used in investing activities | (221,426) | (694,142) | |
| Cash flows from Financing Activities | |||
| Proceeds from issuance of common stock and warrants | 3,786,164 | 2,554,463 | |
| Proceeds from exercise of warrants | 1,656,811 | - | |
| Proceeds from private placement | 9,117,581 | - | |
| Proceeds from issuance of preferred stock | - | 220,578 | |
| Payment of equity issuance costs - others | - | (518,914) | |
| Payment of equity issuance costs relating to acquisition of IFP | - | (806,397) | |
| Payment of tax withholding for employee stock awards | - | (14,407) | |
| Net cash provided by financing activities | 14,560,556 | 1,435,323 | |
| Effect of foreign exchange rates on cash and cash equivalents | (707) | (64,860) | |
| Net increase in cash and cash equivalents | 4,766,854 | (6,701,057) | |
| Cash and cash equivalents, beginning of period | 1,537,244 | 8,238,301 | |
| Cash and cash equivalents, end of the period | $6,304,098 | $1,537,244 | |
| Non-cash investing and financing activities | |||
| Shares issued for business acquisition | $ | - | $5,530,667 |
| Note receivable settled for business acquisition | - | 504,938 | |
| Deferred consideration payable for business combination | - | 208,500 | |
| Recording of right-of-use asset and lease liability | - | 702,566 | |
| Conversion of convertible notes payable into preferred stock | - | 367,153 | |
| Conversion of preferred stock into common stock | 57,287 | 36,888 | |
| 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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