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FY2024
12 months to Dec 31, 2024
|
FY2023
12 months to Dec 31, 2023
|
FY2022
12 months to Dec 31, 2022
|
|
|---|---|---|---|
| Cash flows from operating activities: | |||
| Net loss | |||
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation | |||
| Amortization | |||
| Gain on disposal of fixed asset | |||
| PPP loan forgiveness | |||
| RRF loan forgiveness | |||
| Changes in assets and liabilities: | |||
| Accounts Receivable | |||
| Inventories | |||
| Other assets | |||
| Accounts payable and accrued expenses | |||
| Due to related party | |||
| Other payables | |||
| Net cash provided by (used in) operating activities | |||
| Cash flows from investing activities: | |||
| Purchases of property and equipment | |||
| Acquisition of LV entities | |||
| Net cash used in investing activities | |||
| Cash flows from financing activities: | |||
| Advance from line of credit | |||
| Proceeds from borrowings for acquisition of LV entities | |||
| Proceeds from borrowings | |||
| Repayments on bank notes payables | |||
| Proceeds from loan payable to financial institutions | |||
| Repayment of loan payable to financial institutions | |||
| Proceeds from sale of common shares | |||
| Net cash provided by financing activities | |||
| Net decrease in cash | |||
| Cash – beginning of period | |||
| Cash – end of period | |||
| Supplemental disclosures of non-cash financing activities: | |||
| Forgiveness of paycheck protection program (PPP) loan | |||
| Forgiveness of restaurant revitalization fund (RRF) loan | |||
| Note payable to related party – acquisition of LV entities (seller carry) | |||
| Convertible notes to related party | |||
| Supplemental disclosures of cash flow information | |||
| Cash paid during the years for: | |||
| Interest | |||
| Income taxes |
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