Company: EGG
Filing Date: 2025-04-16
Form Type: F-1/A
Source: 0001641172-25-004947
Chunk: 87

Company: ENIGMATIG LTD
Filing Date: 2025-04-16
Form: F-1/A
Chunk 87
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 US$451,531, which was primarily attributable to the amount due from shareholders of US$88,650 and proceeds from sale of digital assets of US$366,956, partially offset by the purchase of plant and equipment of US$4,075.

Our net cash used in investing activities during the year ended September 30, 2022 was US$3,269 which was attributable to the purchase of property and equipment.

Cash Flows from Financing Activities

Our net cash used in financing
activities during the year ended September 30, 2024 was US$1,062,640, made up of repayment of amounts due to our
shareholder.

Our net cash from financing activities during the year ended September 30, 2022 and 2023 was US$477,893 and US$347,333, respectively, made up of amounts due to our shareholder relating to payment of bills and taxes for our subsidiaries that are not profitable.

Working Capital

We believe that our Group has sufficient working capital for our requirements for at least the next 12 months from the date of this prospectus, in the absence of unforeseen circumstances, taking into account the financial resources presently available to us, including cash and cash equivalents on hand, cash flows from our operations and the estimated net proceeds from this offering.

Discussion of Certain Balance Sheet Items

Accounts receivable, net

|                          |     |         As of 
 September 30, |        |     |      |         |     |      |           |
|                          |     |          2022 |        |     | 2023 |         |     | 2024 |           |
|                          |     |           US$ |        |     |  US$ |         |     |  US$ |           |
| Accounts receivable, net |     |               | 17,805 |     |      | 420,460 |     |      | 1,081,866 |

Net accounts receivable increased from US$17,805 as of September 30, 2022 to US$420,460 as of September 30, 2023 primarily due to the slower payment from one of our long-time clients, in the amount of approximately US$200,000 and timing of accounts becoming receivable towards the end of the period. Net accounts receivable further increased to US$1,081,866 as of September 30, 2024, primarily due to the closing of several significant deals near the end of the fiscal year and