Hour Loop, Inc
For the period ended Dec 31, 2024. Filed Mar 27, 2025.
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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 Mar 27, 2025
HOUR$1.48-0.6%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In U.S. Dollars)
| 2024 | 2023 | |
|---|---|---|
| Cash flows from operating activities | ||
| Net income (loss) | $657,447 | $(2,429,694) |
| Reconciliation of net income (loss) to net cash used in operating activities: | ||
| Depreciation expenses | 119,064 | 138,001 |
| Amortization of operating lease right-of-use lease assets | 211,348 | 387,446 |
| Deferred tax assets | 244,111 | (754,895) |
| Stock-based compensation | 75,042 | 52,332 |
| Inventory allowance | 560,293 | 675,886 |
| Unrealized Foreign Exchange Gain | (87,520) | - |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (902,897) | (395,271) |
| Inventory | (924,370) | 3,849,088 |
| Prepaid expenses and other current assets | 177,079 | 236,270 |
| Accounts payable | 363,351 | (2,838,767) |
| Credit cards payable | (1,014,565) | (827,087) |
| Accrued expenses and other current liabilities | 1,043,600 | 229,540 |
| Operating lease liabilities | (208,843) | (386,224) |
| Net cash provided by (used in) operating activities | 313,140 | (2,063,375) |
| Cash flows from investing activities: | ||
| Purchases of property and equipment | (35,996) | (14,823) |
| Net cash used in investing activities | (35,996) | (14,823) |
| Cash flows from financing activities: | ||
| Payments to related parties | (671,000) | - |
| Net cash used in financing activities | (671,000) | - |
| Effect of changes in foreign currency exchange rates | 29,284 | (238) |
| Net change in cash | (364,572) | (2,078,436) |
| Cash at beginning of year | 2,484,153 | 4,562,589 |
| Cash at end of year | $2,119,581 | $2,484,153 |
| Supplemental disclosures of cash flow information: | ||
| Cash paid for interest | $249,296 | $406,103 |
| Cash paid for income tax | $211,911 | $1,696 |
| Noncash investing and financing activities: | ||
| Operating lease right-of-use of assets and operating lease liabilities recognized | $248,716 | $27,249 |
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