Orgenesis Inc. Cashflow Statement

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Financial Statements

Income Statement Balance Sheet Cashflow Statement

Consolidated Statements of Cash Flows

In millions of USD, except per-share amounts

	FY2024 12 months to Dec 31, 2024	FY2023 12 months to Dec 31, 2023	FY2022 12 months to Dec 31, 2022	FY2021 12 months to Dec 31, 2021	FY2020 12 months to Dec 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss
Adjustments required to reconcile net loss to net cash used in operating activities:
Stock-based compensation
Stock-based compensation for Tamir Purchase Agreement (See Notes 4)
Gain on disposal of subsidiaries
Convertible loans induced conversion expenses
Capital gain, net
Loss (gain) from deconsolidation of OBI, Korea and Belgium subsidiaries in 2024 (Octomera in 2023)
Share in loss of associated companies, net
Depreciation and amortization expenses
Credit loss on convertible loan receivable
Impairment of investment
Credit loss net related to OBI, Korea and Belgium subsidiaries
Impairment of investment (see note 2)
Impairment expenses (see note 2)
Effect of exchange differences on inter-company balances
Net changes in operating leases
Change in Contingent consideration
Interest expense accrued on loans and convertible loans
Loss from extinguishment in connection with convertible loan restructuring
Changes in operating assets and liabilities:
Accounts receivable
Prepaid expenses, other accounts receivable
Inventory
Decrease (increase) in other assets
Other assets
Related parties, net
Accounts payable
Increase (decrease) in accrued expenses and other payable
Accrued expenses and other payable
Employee and related payables
Decrease in contract liabilities
Change in advance payments and receivables on account of grant, net
Deferred taxes, net

Net cash used in operating activities
CASH FLOWS FROM INVESTING ACTIVITIES:
Increase in loan to JV partner, a related party
Investment in convertible loan to related party partners
Repayment of convertible loan to related party partners
Decrease in loan to associate entities
Increase in loan to associate entities
Loan granted
Investment in convertible loan to related party
Loan to associate
Repayment of loan granted
Sale of property, plants and equipment
Purchase of property, plants and equipment
Acquisition of Koligo, net of cash acquired (See Note 4)
Proceed from sale of subsidiaries, net
Investment in associated company
Investment in deposits
Repayment from deposits
Cash acquired from acquisition of Octomera (see note 3)
Impact to cash resulting from deconsolidation of OBI, Korea and Belgium subsidiaries (see note 20)
Increase in cash from business combinations of TLABS and Orgenesis Austria
Impact to cash resulting from deconsolidation
Investment in long-term deposits
Net cash used in investing activities
CASH FLOWS FROM FINANCING ACTIVITIES:
Repurchase of treasury stock
Proceeds from issuance of shares due to exercise of options and warrants (net of transaction costs)
Proceeds from issuance of convertible loans
Proceeds from transaction with redeemable non-controlling interest that do not result in a loss of control, see note 3
Proceeds from transaction with redeemable non-controlling interest that do not result in a loss of control
Repayment of convertible loans and convertible bonds
Repayment of short and long-term debt
Proceeds from issuance of loans payable
Grant received in respect of third party
Transfer of the grant received to third party
Receipt from Germfree (see note 13f)
Net cash provided by financing activities

NET CHANGE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF YEAR
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF YEAR
SUPPLEMENTAL NON-CASH FINANCING AND INVESTING ACTIVITIES
Finance Leases of property, plant and equipment
Right-of-use assets acquired in exchange for right-of-use liabilities
Purchase of property, plant and equipment included in accounts payable
Acquisition of other asset in exchange for common stocks
Issuance of common stocks in connection with the acquisition of Koligo
Recognition of finance lease liability and right-of-use assets
Recognition of operating lease liability and right-of-use assets
Right-of-use assets obtained in exchange for new finance lease liabilities
Right-of-use assets obtained in exchange for new operation lease liabilities
Increase (decrease) in accounts payable related to purchase of property, plant and equipment
Loan conversion for Redeemable non-controlling interest (See note 3)
Issuance of common stocks in connection with the acquisition of Mida
Extinguishment in connection with convertible loan restructuring

CASH PAID DURING THE YEAR FOR:
Interest

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