Toughbuilt Industries, 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

	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	FY2019 12 months to Dec 31, 2019
Cash flows from operating activities:
Net loss
Adjustments to reconcile from net loss to net cash used in operating activities:
Depreciation
Amortization of debt discount and debt issuance cost
Provision for doubtful accounts
Impairment of property and equipment
Allowance for credit losses
Inducement expense
Stock-based compensation expense
Loss on sale of property and equipment
Amortization of capitalized contract costs
Loss on exchange transactions
Amortization of right of use assets
Amortization of patents
Write-down of patents
Gain on abandonment of lease
Change in fair value of warrant and preferred investment option liability
Interest paid on short-term loan
Warrant issuance costs
Loss on exchange transaction

Changes in operating assets and liabilities
Decrease (increase) in accounts receivable
Factor receivables, net
Decrease (increase) in inventory
Decrease (increase) in prepaid assets
(Increase) in other assets
Increase in accounts payable
Accrued expenses
Deferred revenue
Lease liability
(Decrease) increase in accrued expenses
Increase in related party payables
(Decrease) in lease liability

Net cash (used in) operating activities
Cash flows from investing activities:
Proceeds from note receivable
Proceeds from sale of equipment
Purchase of other assets
Purchase of property and equipment
Net cash (used in) investing activities
Cash flows from financing activities:
Proceeds from sales of common stock and warrants, net of costs
Proceeds from exercise and conversion of warrants
Proceeds from exercise of Placement Agent warrants
Proceeds from issuance of stock, net of costs
Borrowings from note payable - Paycheck Protection Program
Cash paid in Exchange transaction
Borrowings from note payable – Paycheck Protection Program
Repayment of note payable – Paycheck Protection Program
Proceeds from notes payable
Proceeds (Repayments) of factor loan payable
Proceeds (repayments) from factor loan payable
Repayments of factor loan payable
Repayments of Series D Preferred Stock
Proceeds from loan payable
Repayments of loan payable
Net cash provided by financing activities

Effect of exchange rates on cash
Net decrease in cash
Cash, beginning of period
Cash, end of period
Cash paid during the period for:
Interest
Income taxes
Supplemental disclosures of non-cash investing and financing activities:
Common stock deemed dividend
Issuance of warrants to investors
Issuance of warrants as compensation for capital raise
Conversion of Series C Preferred Stock
Conversion of Series D Preferred Stock
Conversion of convertible note payable
Issuane of common stock for prepaid
Purchase of property and equipment included in accounts payable
Issuance of warrants in connection with convertible notes payable
Debt issuance costs paid with warrants
Issuance of common stock upon Series C preferred stock conversion
Issuance of common stock upon convertible note conversion
Issuance of Class D preferred stock upon convertible note conversion
Restricted promissory note in connection with convertible notes payable
Original issue discount
Conversion of Series B warrants into common stock
Cashless exercise of warrants
Conversion of Series C Preferred Stock to common stock
Conversion of convertible notes payable to common stock
Conversion of Series D Preferred Stock to common stock
Issuance of common stock for prepaid services
Subscription receivable
Purchase of property and equipment included in accounts payable and accrued expenses
Repayment of short-term loan payable in exchange for new short-term loan payable
Initial value of lease liability

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