Healthcare Integrated Technologies Inc
For the period ended Jul 31, 2024. Filed Oct 29, 2024.
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FY2024 · Filed Oct 29, 2024
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| For the Years Ended July 31, | |||
|---|---|---|---|
| 2024 · 2023 | |||
| CASH FLOWS FROM OPERATING ACTIVITIES | |||
| Net loss | $(702,486) | $(1,302,458) | |
| Adjustments to reconcile loss to net cash used in operating activities: | |||
| Amortization | 221,919 | 16,885 | |
| Stock-based compensation | 186,643 | 287,016 | |
| Impairment of intangibles | 140,770 | - | |
| Extinguishment of liabilities | (279,903) | - | |
| Gain on settlements | (56,250) | ||
| Shares issued for services | - | 28,750 | |
| Shares issued for note amendment fees | - | 150,000 | |
| Amortization of debt discount | - | 194,395 | |
| Change in fair value of derivative liability | - | (76,451) | |
| Changes in operating assets and liabilities: | |||
| Accounts receivable, net | (14,000) | - | |
| Prepaid expenses and other current assets | 1,070 | 2,524 | |
| Accounts payable and accrued expenses | 19,455 | 91,571 | |
| Accounts payable and accrued expenses, related party | (34,957) | 328,464 | |
| Payroll related liabilities | 250,010 | 173,101 | |
| NET CASH USED BY OPERATING ACTIVITIES | (267,729) | (106,203) | |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Cash paid for development of intangible assets | - | (27,560) | |
| NET CASH USED BY INVESTING ACTIVITIES | - | (27,560) | |
| CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Proceeds from sale of common stock | 550,000 | 300,000 | |
| Proceeds from related party loans | 114,989 | 584,283 | |
| Payments of amounts owed to related parties | (222,109) | (151,160) | |
| Principal payments on short-term debt | - | (600,000) | |
| NET CASH PROVIDED BY FINANCING ACTIVITIES | 442,880 | 133,123 | |
| Net change in cash and cash equivalents | 175,151 | (640) | |
| Cash and cash equivalents, beginning of period | 411 | 1,051 | |
| Cash and cash equivalents, end of period | $175,562 | $411 | |
| SUPPLEMENTAL CASH FLOW INFORMATION | |||
| Cash paid for interest | $ | - | $62,069 |
| SIGNIFICANT NON-CASH INVESTING AND FINACING ACTIVITIES | |||
| Shares issued for payment of payroll related liabilities | $338,516 | $1,581,056 | |
| Shares issued for payment of items included in accounts payable and accrued expenses, related party | $471,950 | ||
| Shares issued for payment of convertible debt | $150,000 | ||
| Capital expenditures included in payroll related liabilities | $110,664 | ||
| Capital expenditures from stock-based compensation | $57,990 | ||
| Shares issued for payment of items included in accounts payable and accrued expenses | $37,586 | ||
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