Company: CLIK
Filing Date: 2025-02-19
Form Type: 20-F
Source: 0001213900-25-015041
Chunk: 9

Company: Click Holdings Ltd.
Filing Date: 2025-02-19
Form: 20-F
Item: Item 5
Chunk 9
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 net proceeds of our initial public offering in the following manner:
 

●   approximately 40% for potential investments and/or horizontal
          acquisition of human resources solution providers;     
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●   approximately 20% for the development of a cloud-based human
           resources system and/or recruitment platform;        
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●                     approximately 10% for the expansion and recruitment of our                 
    in-house service team including accounting and finance experts as well as technology experts;
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●    approximately 10% for launching promotion and/or incentive
    campaign to attract talents and expand our talent pool; and
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●   the remaining amount for general administration and working
                              capital.                         
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Cash Flows
 
The following table sets forth a summary of our consolidated cash flows for 6M2024 and 6M2023, respectively:
 

                                                                      Six Months Ended               
                                                                          June 30,                   
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                                                      2024                     2023                  
                                                          US$                       US$              
Net cash (used in) provided by operating activities             (30,520   )               203,081    
Net cash used in investing activities                            (2,255   )                (1,114   )
Net cash used in financing activities                          (228,687   )              (256,411   )
Effect of foreign exchange rate on cash                             (79   )                  (116   )
Net decrease in cash and cash equivalents                      (261,541   )               (54,560   )
 
6

 

Operating activities
 
For 6M2024 and 6M2023, our net cash used in or provided by operating activities were primarily derived from cash inflow from our net income adjusted for (i) net non-cash expenses comprising depreciation, non-cash lease expense, and provision for expected credit losses, and (ii) net change in operating assets and liabilities, including accounts receivable, prepaid expenses and other current assets, due from related parties, accounts payable, accrued expenses and other liabilities, advance from customers, due to a related party, income tax payable and lease liabilities.
 
Net cash used in operating activities was $30,520 for 6M2024 compared to net cash provided by operating activities of $203,081 for 6M2023, representing a decrease of $233,601. Such decrease was primarily due to increase in revenue which required increase in working capital, resulting in net cash used in operating activities.
 
Investing activities
 
Net cash used in investing activities for 6M