Lease liabilities -- Operating lease           (846,992)   (833,365) 
                                               ---------   --------- 
Net cash (used in) provided by operating 
 activities                                     (53,640)      39,303 
                                               ---------   --------- 
 
Cash flows from investing activities: 
Payment made for investment in other entity     (29,906)          -- 
Net cash outflow from deconsolidation of a 
subsidiary  (Appendix A)                        (48,893)          -- 
Acquisition of property and equipment                 --    (18,288) 
                                               ---------   --------- 
Net cash used in investing activities           (78,799)    (18,288) 
                                               ---------   --------- 
 
Cash flows from financing activities: 
Proceeds from loans                              400,000          -- 
Repayment of loans                             (214,986)   (100,864) 
Repayment of equipment and vehicle loans       (119,964)   (104,598) 
Principal payment of finance lease 
 liabilities                                    (29,628)    (20,640) 
Payment for deferred offering cost             (170,000)    (90,000) 
Advance to related parties                      (23,969)          -- 
Proceeds from shareholders                       237,302     110,550 
Repayment to shareholders                             --    (47,536) 
                                               ---------   --------- 
Net cash provided by (used in) financing 
 activities                                       78,755   (253,088) 
                                               ---------   --------- 
 
Effect of exchange rate changes on cash and 
 cash equivalents                                  3,216      32,560 
                                               ---------   --------- 
Net decrease in cash                            (50,468)   (199,513) 
Cash, beginning of the year                      174,018     373,531 
                                               ---------   --------- 
Cash, end of the year                         $  123,550  $  174,018 
                                               =========   ========= 
 
SUPPLEMENTAL DISCLOSURES OF CASH FLOW 
  INFORMATION: 
Cash paid for income tax                      $       --  $       -- 
                                               =========   ========= 
Cash paid for interest                        $   31,161  $   26,474 
                                               =========   ========= 
 
SUPPLEMENTAL SCHEDULE OF NON-CASH IN 
 FINANCING ACTIVITIES 
Deferred offering costs within due to 
 shareholders                                 $  860,979  $   90,000 
                                               =========   ========= 
Deferred offering costs within accrued 
 expense and other payables                   $  541,819  $       -- 
                                               =========   ========= 
 
NON-CASH ACTIVITIES 
Dividends declared                            $       --  $  200,000 
                                               =========   ========= 
Dividends declared and offset against due 
 from shareholders                            $       --  $  101,150 
                                               =========   ========= 
Property and equipment additions included in 
 loan payable                                 $       --  $   98,245 
                                               =========   ========= 
Right of use assets obtained in exchange for 
 operating lease obligations                  $2,094,498  $  124,600 
                                               =========   ========= 
Right of use assets obtained in exchange for 
 finance lease obligation                     $   19,982  $   32,107 
                                               =========   ========= 
 
APPENDIX A -- Net cash outflow from 
deconsolidation of a subsidiary 
Working capital, net                          $   29,812  $       -- 
Investment in other entity recognized           (15,741)          -- 
Elimination of NCl at deconsolidation of a 
subsidiary                                        10,187          -- 
Loss from deconsolidation of a subsidiary       (73,151)          -- 
                                               ---------   --------- 
Cash                                          $ (48,893)  $       -- 
                                               =========   ========= 
 

View original content:https://www.prnewswire.com/news-releases/lakeside-holding-reports-impressive-42-revenue-growth-for-fiscal-year-2024-302264006.html

SOURCE Lakeside Holding Limited

(END) Dow Jones Newswires

October 01, 2024 08:50 ET (12:50 GMT)