Agape ATP Corp
For the period ended Dec 31, 2024. Filed Mar 31, 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 31, 2025
ATPC$1.35-0.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
(Currency expressed in United States Dollars (“US$”)
| For the years ended December 31, | |||
|---|---|---|---|
| 2024 · 2023 | |||
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||
| Net loss | $(2,486,044) | $(2,109,935) | |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation of property and equipment | 52,570 | 70,337 | |
| Amortization of intangible assets | 4,770 | 5,645 | |
| Amortization of operating right-of-use assets | 139,867 | 147,212 | |
| Amortization of finance lease assets | 29,445 | - | |
| Gain on disposal of property and equipment | (112) | (1,753) | |
| Unrealized holding loss (gain) on marketable securities | 5,018 | (3,493) | |
| Allowance for expected credit loss | 98,705 | 29,955 | |
| Deferred tax expense (benefit) | 220 | (220) | |
| Inventory write-down | 7,081 | - | |
| Changes in operating assets and liabilities: | |||
| Accounts receivables | (28,295) | (53,641) | |
| Amount due from related parties | 8,889 | (995) | |
| Inventories | (4,225) | (3,216) | |
| Prepaid taxes | (22,322) | 305,567 | |
| Prepayments and deposits | (434,447) | (34,532) | |
| Other receivables | (2,105) | 8,961 | |
| Accounts payable | 44,657 | 28,109 | |
| Accounts payable – related parties | (5,107) | 10,347 | |
| Customer deposits | (7,340) | (248,299) | |
| Operating lease liabilities | (139,476) | (147,951) | |
| Other payables and accrued liabilities | 14,761 | 3,485 | |
| Other payables – related parties | (7,065) | 3,185 | |
| Income tax payables | 4,340 | (10,591) | |
| Net cash used in operating activities | (2,726,215) | (2,001,823) | |
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||
| Purchase of property and equipment | (50,162) | (52,320) | |
| Proceeds from disposal of property and equipment | 112 | 35,069 | |
| Net cash used in investing activities | (50,050) | (17,251) | |
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||
| Shares repurchased | - | (93,889) | |
| Payment of finance lease liabilities | (11,856) | (9,594) | |
| Net proceeds from issuance of common stock | - | 5,501,520 | |
| Net cash used in financing activities | (11,856) | 5,398,037 | |
| EFFECT OF EXCHANGE RATE ON CASH AND CASH EQUIVALENTS | (4,096) | 15,067 | |
| (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | (2,792,217) | 3,394,030 | |
| CASH AND CASH EQUIVALENTS, beginning of year | 4,832,460 | 1,438,430 | |
| CASH AND CASH EQUIVALENTS, end of year | $2,040,243 | $4,832,460 | |
| SUPPLEMENTAL CASH FLOWS INFORMATION | |||
| Income taxes paid | $24,003 | $34,844 | |
| Refund of prepaid tax | $1,681 | $326,024 | |
| SUPPLEMENTAL NON-CASH FLOWS INFORMATION | |||
| Motor vehicle acquired through finance lease | $65,761 | $78,824 | |
| Operating lease right-of-use assets obtained in exchange for lease liabilities | $ | - | $428,523 |
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