Luduson G Inc
For the period ended Dec 31, 2023. Filed Mar 28, 2024.
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FY2023 · Filed Mar 28, 2024
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Item 8. Consolidated Statements of Cash Flows
(Currency expressed in United States Dollars (“US$”))
| Years ended December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Cash flows from operating activities: | ||
| Net loss | $(303,197) | $(14,037,866) |
| Adjustments to reconcile net income to net cash (used in) provided by operating activities | ||
| Amortization of goodwill | – | – |
| Stock based compensation | 205,026 | – |
| Change in operating assets and liabilities: | ||
| Decrease in inventory | (46,154) | – |
| Decrease in other receivables and other current assets | (64,102) | – |
| Increase in accounts payable | – | – |
| Increase in accrued expenses | 75,943 | 14,037,866 |
| Net cash (used in) operating activities | (132,484) | – |
| Cash flows from investing activities: | ||
| Purchases of equipment | – | – |
| Net cash used in investing activities | – | – |
| Cash flows from financing activities: | ||
| Repayment to related party | – | – |
| Proceeds from related party payable | – | – |
| Proceeds from borrowings | – | – |
| Repayment to borrowings | (3,008) | – |
| Proceeds from acquisition subsidiaries | 298,438 | – |
| Net cash provided by financing activities | 295,430 | – |
| Effect on exchange rate change on cash and cash equivalents | – | (1,442) |
| Net increase of cash and cash equivalents | 162,946 | – |
| BEGINNING OF YEAR | 12,056 | 13,498 |
| END OF YEAR | $175,002 | $12,056 |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION | ||
| Cash paid for tax | $– | $– |
| Cash paid for interest | $– | $– |
| Non-cash financing and investing activities: | ||
| Debt converted to common stock | $10,400 | $– |
| Issuance of treasury stock for intelligential property rights | $6,000,000 | $– |
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