MDWerks, Inc.
For the period ended Dec 31, 2024. Filed Mar 25, 2025.
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FY2024 · Filed Mar 25, 2025
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
| Year Ended | ||||
|---|---|---|---|---|
| December 31, 2024 · December 31, 2023 | ||||
| CASH FLOWS FROM OPERATING ACTIVITIES | ||||
| Net loss | $(1,621,117) | $(291,672) | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||||
| Depreciation and amortization | 289,631 | 15,126 | ||
| Gain/Loss on sale of assets | 57,900 | (168,855) | ||
| Loss on impairment of note receivable | 97,533 | - | ||
| Stock-based compensation | 71,938 | - | ||
| Common stock to be issued for royalty agreement | 15,000 | - | ||
| Imputed interest | - | 5,507 | ||
| Allowance for credit losses | 39,176 | 20,420 | ||
| Interest income | - | (2,533) | ||
| Changes in operating assets and liabilities: | ||||
| Accounts receivable | (41,584) | (11,494) | ||
| Prepaid expense | (17,000) | 1,429 | ||
| Inventory | (35,656) | 1,277 | ||
| Right-of-use asset | 189,349 | 9,881 | ||
| Accounts payable | 153,361 | (82,061) | ||
| Accounts payable related party | 46,812 | - | ||
| Deferred revenue | 173,287 | (7,288) | ||
| Right-of-use liability | (200,600) | (9,527) | ||
| NET CASH USED IN OPERATING ACTIVITIES | (781,970) | (519,790) | ||
| CASH FLOWS FROM INVESTING ACTIVITIES | ||||
| Purchase of intangible assets | - | (19,500) | ||
| Proceeds from sale of property and equipment | - | 100,000 | ||
| Net assets acquired from acquisitions | - | 46,541 | ||
| Purchase of property and equipment | (6,990) | (88,000) | ||
| NET CASH (USED IN)/PROVIDED BY INVESTING ACTIVITIES | (6,990) | 39,041 | ||
| CASH FLOWS FROM FINANCING ACTIVITIES | ||||
| Proceeds from related party notes payable | 155,500 | - | ||
| Redemption of preferred stock | (10) | - | ||
| Repayment of notes payable | (182,982) | - | ||
| Repayment of notes payable related party | (32,500) | - | ||
| Repayment of advances payable | - | (104,204) | ||
| Proceeds from subscription agreements | 745,000 | 676,349 | ||
| NET CASH PROVIDED BY FINANCING ACTIVITIES | 685,008 | 572,145 | ||
| NET CHANGE IN CASH | (103,952) | 91,396 | ||
| CASH - BEGINNING OF YEAR | 115,111 | 23,715 | ||
| CASH - END OF PERIOD | $11,159 | $115,111 | ||
| Supplemental disclosures of cash flow information: | ||||
| Cash paid for interest | $ | - | $ | - |
| Cash paid for taxes | $ | - | $ | - |
| Supplemental disclosure of non-cash investing and financing activities | ||||
| Property and equipment acquired with notes payable | $444,891 | $ | - | |
| Note receivable issued for asset sale | $ | - | $95,000 | |
| Common stock issued for acquisitions | $ | - | $885,000 | |
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