Prepaid payment network service fee               82             - 
                                         -----------   ----------- 
Total operating revenue                           82             - 
                                         -----------   ----------- 
 
OPERATING EXPENSE 
Selling, general and administrative 
 expenses                                  1,080,345     1,123,711 
                                         -----------   ----------- 
Total operating expenses                   1,080,345     1,123,711 
                                         -----------   ----------- 
 
LOSS FROM OPERATIONS                     (1,080,263)   (1,123,711) 
                                         -----------   ----------- 
 
OTHER EXPENSES                               (1,623)       (1,693) 
                                         -----------   ----------- 
 
LOSS BEFORE INCOME TAX PROVISION         (1,081,886)   (1,125,404) 
                                         -----------   ----------- 
 
PROVISION FOR INCOME TAXES                         -             - 
                                         -----------   ----------- 
 
NET LOSS                                 (1,081,886)   (1,125,404) 
                                         ===========   =========== 
 
OTHER COMPREHENSIVE LOSS 
Foreign currency translation 
 adjustment                                 (57,057)       (7,565) 
                                         -----------   ----------- 
COMPREHENSIVE LOSS                      $(1,138,943)  $(1,132,969) 
                                         ===========   =========== 
 
Loss per common share- basic and 
 diluted                                $     (0.46)  $     (0.47) 
                                         ===========   =========== 
 
Weighted average shares- basic and 
 diluted                                   2,376,764     2,376,764 
                                         ===========   =========== 
 
 
               SENTAGE HOLDINGS INC. AND SUBSIDIARIES 
               CONSOLIDATED STATEMENTS OF CASH FLOWS 
 
                                            For the six months 
                                              ended June 30, 
                                        -------------------------- 
                                            2023          2024 
                                        ------------  ------------ 
Cash flows from operating activities 
Net loss                                $(1,081,886)  $(1,125,404) 
Adjustments to reconcile net income 
to cash and restricted cash provided 
by (used in) operating activities: 
Depreciation and amortization                 49,087        52,151 
Allowance for Credit Losses                  (2,902)        45,231 
Changes in operating assets and 
liabilities: 
Accounts receivable                           37,863       107,348 
Prepaid expenses and other current 
 assets                                      124,441     (101,374) 
Lease liabilities                           (44,191)      (44,473) 
Accrued expenses and other current 
 liabilities                                (97,547)      (19,443) 
                                         -----------   ----------- 
Net cash used in operating activities    (1,015,135)   (1,085,964) 
                                         -----------   ----------- 
 
Cash flows from investing activity 
Additions to property, plant and 
 equipment                                     (537)             - 
                                         -----------   ----------- 
Net cash used in investing activity            (537)             - 
                                         -----------   ----------- 
 
Cash flows from financing activity 
Proceeds from (Repayment to) related 
 party loans                                 (4,709)       438,129 
Net cash (used in)/provided by 
 financing activity                          (4,709)       438,129 
                                         -----------   ----------- 
 
Reconciliation of cash and restricted 
cash, beginning of period 
Cash                                       3,805,135     2,262,881 
Restricted cash                               23,089        26,127 
                                         -----------   ----------- 
Cash and restricted cash, beginning of 
 period                                 $  3,828,224  $  2,289,008 
                                         ===========   =========== 
 
Reconciliation of cash and restricted 
cash, end of period 
Cash                                       2,724,245     1,615,725 
Restricted cash                               19,850        21,101 
                                         -----------   ----------- 
Cash and restricted cash, end of 
 period                                 $  2,744,095  $  1,636,826 
                                         ===========   =========== 
 
Effect of exchange rate changes on 
 cash and restricted cash                   (63,749)       (4,347) 
                                         -----------   ----------- 
Net decrease in cash and restricted 
 cash                                    (1,084,130)     (652,182) 
Cash and restricted cash, beginning of 
 period                                    3,828,224     2,289,008 
                                         -----------   ----------- 
Cash and restricted cash, end of 
 period                                 $  2,744,095  $  1,636,826 
                                         ===========   =========== 
 

View original content:https://www.prnewswire.com/news-releases/sentage-holdings-inc-announces-financial-results-for-the-first-six-months-of-fiscal-year-2024-302334029.html

SOURCE Sentage Holdings Inc.

(END) Dow Jones Newswires

December 17, 2024 16:00 ET (21:00 GMT)