Company: STAK
Filing Date: 2025-11-05
Form Type: 20-F
Source: 0001493152-25-020818
Chunk: 90

Company: STAK Inc.
Filing Date: 2025-11-05
Form: 20-F
Item: Item 5
Chunk 90
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 in operating activities was $1.5 million for the year ended June 30, 2023, primarily derived from (i) net income of $3.5 million, (ii) an adjustment of added non-cash items of a net amount of $0.31 million, inclusive of amortization and depreciation and other non-cash items; deducted by (iii) an increase of accounts receivables of $3.5 million with respect to the increase of our sales; and (iv) an increase of inventories of $3.4 million in relation to materials for volume production and finished goods, (v) an increase of accounts payable of $0.5 million.
 
Investing Activities
 
For the year ended June 30, 2025, net cash used in investing activities was $2.4 million, which was mainly due to purchases of intangible assets of $2.0 million and net proceeds to independent third parties of $0.4 million.
 
For the year ended June 30, 2024, net cash used in investing activities was $0.3 million, which was mainly due to loans to independent third parties.
 
For the year ended June 30, 2023, net cash used in investing activities $3.0 million, which was mainly due to loans to third parties and purchases of property and equipment, and intangible assets.
 

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Financing Activities
 
For the year ended June 30, 2025, net cash provided by financing activities was $5.7 million, which was mainly due to net proceeds from initial public offering of $4.2 million and bank loans of $1.5 million.
 
For the year ended June 30, 2024, net cash provided by financing activities was $3.1 million, which was mainly due to net proceeds from bank loans.
 
For the year ended June 30, 2023, net cash provided by financing activities was $5.0 million, which was due to (i) the contribution from shareholders in the amount of $3.7 million; and (ii) net proceeds from bank loans of $1.3 million.
 
Taxation
 
Cayman Islands Taxation
 
Payments of dividends and capital in respect of our Ordinary Shares will not be subject to taxation in the Cayman Islands and no withholding tax will be required on the payment of a dividend or capital to any holder of the Ordinary Shares nor will gains derived from the disposal of the Ordinary Shares be subject to Cay