non-controlling interest                             -      (3,025) 
                                          -------------   ---------- 
Net loss attributable to common 
 stockholders                               (1,335,407)    (304,260) 
                                          -------------   ---------- 
 
Other comprehensive loss 
Foreign currency translation gain                12,993        3,122 
                                          -------------   ---------- 
Comprehensive loss                          (1,322,414)    (304,163) 
Less: comprehensive loss 
 attributable to non-controlling 
 interest                                             -      (3,119) 
                                          -------------   ---------- 
Comprehensive loss attributable to 
 the common shareholders               $    (1,322,414)  $ (301,044) 
                                          -------------   ---------- 
 
Loss per share -- basic and diluted    $         (0.18)  $    (0.05) 
                                          -------------   ---------- 
Weighted average shares 
 outstanding -- basic and diluted*            7,500,000    6,000,000 
                                          -------------   ---------- 
 
 
                      LAKESIDE HOLDING LIMITED 
          CONDENSSED CONSOLIDATED STATEMENTS OF CASH FLOWS 
                            (UNAUDITED) 
 
                                        For the Three Months Ended 
                                              September 30, 
                                      ------------------------------ 
                                            2024            2023 
                                      -----------------  ----------- 
Cash flows from operating 
activities: 
 Net loss                              $    (1,335,407)  $ (307,285) 
Adjustments to reconcile net loss 
to net cash provided by operating 
 activities: 
 Depreciation -- G&A                             17,995       17,995 
 Depreciation -- cost of revenue                 18,164       18,165 
 Amortization of operating lease 
  assets                                        466,723      219,571 
 Depreciation of right-of-use 
  finance assets                                  7,595        7,332 
 Provision of allowance for expected 
  credit loss                                    12,837       52,122 
 Deferred tax expense (benefit)                  89,581      (2,059) 
 Loss from derecognition of shares 
  in subsidiary                                       -       73,151 
Changes in operating assets and 
liabilities: 
 Accounts receivable -- third 
  parties                                       282,864    (138,491) 
 Accounts receivable -- related 
  parties                                       257,924     (65,995) 
 Contract assets                                 88,205       26,213 
 Due from related parties                      (77,812)       49,182 
 Prepayment, other deposit                    (176,572)        2,623 
 Accounts payables -- third parties           (402,895)      133,904 
 Accounts payables -- related 
  parties                                     (156,850)      141,213 
 Accrued expense and other payables            (24,876)       37,739 
 Operating lease liabilities                  (470,260)    (225,023) 
Net cash (used in) provided by 
 operating activities                       (1,402,784)       40,357 
                                          -------------   ---------- 
 
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) 
 Prepayment for system installation            (32,507)            - 
 Acquisition of property and 
  equipment                                     (5,772)            - 
                                          -------------   ---------- 
Net cash used in investing 
 activities                                    (38,279)     (78,799) 
                                          -------------   ---------- 
 
Cash flows from financing 
activities: 
 Proceeds from loans                                  -      225,000 
 Repayment of loans                           (265,456)    (122,137) 
 Repayment of equipment and vehicle 
  loans                                        (27,990)     (29,678) 
 Principal payment of finance lease 
  liabilities                                   (7,632)      (6,425) 
 Proceeds from initial public 
  offering, net of share issuance 
  costs                                       5,351,281            - 
 Advanced to related parties                  (126,227)            - 
 Repayment to shareholders                    (879,574)            - 
                                          -------------   ---------- 
Net cash provided by financing 
 activities                                   4,044,402       66,760 
                                          -------------   ---------- 
 
Effect of exchange rate changes on 
 cash and cash equivalents                       12,386        3,216 
                                          -------------   ---------- 
Net decrease in cash and cash 
 equivalent                                   2,615,725       31,534 
Cash and cash equivalent, beginning 
 of the period                                  123,550      174,018 
                                          -------------   ---------- 
Cash and cash equivalent, end of the 
 period                                $      2,739,275  $   205,552 
                                          =============   ========== 
 
SUPPLEMENTAL DISCLOSURES OF CASH 
FLOW  INFORMATION: 
 Cash paid for income tax              $             --  $        -- 
                                          =============   ========== 
 Cash paid for interest                $          6,274  $     6,462 
                                          =============   ========== 
 
SUPPLEMENTAL SCHEDULE OF NON-CASH 
IN FINANCING  ACTIVITIES 
 Deferred offering costs within due 
  to shareholders                      $             --  $   230,000 
                                          =============   ========== 
 
NON-CASH ACTIVITIES 
Right of use assets obtained in 
 exchange for operating lease 
  obligations                          $      1,244,140  $        -- 
                                          =============   ========== 
Right of use assets obtained in 
exchange for finance lease 
obligation                             $             --  $        -- 
                                          =============   ========== 
 
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) 
                                                          ========== 
 

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SOURCE Lakeside Holding Limited

(END) Dow Jones Newswires

November 15, 2024 16:05 ET (21:05 GMT)